$2B RIA and $300M firm team up in California

The move focuses on women advisers, succession planning

Jan 21, 2016 @ 4:12 pm

By Alessandra Malito

EP Wealth Advisors, a fee-only financial advisory firm based in Torrance, Calif., with $2 billion in assets under management, has merged with Ballou Plum Wealth Advisors, a San Francisco-based firm with $300 million in AUM.

The merger announced Wednesday is part of a five-year plan for EP Wealth Advisors, which has offices in San Francisco, West Los Angeles, Irvine, Calif. and Denver, to expand its business.

The merged company also puts a greater spotlight on financial planning for women. Ballou Plum co-founders Lynn Ballou and Marilyn Plum, both of whom are certified financial planners, started the firm in 1998 and work with high-net-worth clients, with a particular focus on women clients.

“Ballou Plum Wealth Advisors are more than a good partner, they are at the forefront in the shift in financial services and they help us meet the market's demand for more female advisers, which is part of a culture shift in financial services,” Patrick Goshtigian, president of EP Wealth Advisors, said in a press release.

For Ballou Plum, the move meant a good succession plan for the firm and its clients.

“Even though Lynn and Marilyn plan to work for many years to come, EP Wealth Advisors shares a similar client-centric approach and it comes with a built-in, long-term succession plan, so the firm will continue to serve clients in the same quality way,” David Selig, chief executive and founder of Advice Dynamics Partners, a mergers and acquisitions consulting firm, said in a statement.

0
Comments

What do you think?

View comments

Recommended for you

Featured video

INTV

Where in the U.S. are RIAs growing the fastest?

InvestmentNews' deputy editor Robert Hordt talks to senior columnist Jeff Benjamin about his report on how registered investment advisers are faring in different regions of the country.

Latest news & opinion

Top 10 RIAs in the Midwest

These are the largest registered investment advisers in terms of AUM in the Midwestern U.S.

Top 10 RIAs in the Northeast

These are the largest registered investment advice firms in the Northeastern U.S., in terms of assets under management.

10 predictions for financial advice in 2019

Deloitte expects these 10 changes will hit the financial advice business in 2019.

Midwestern magic? RIA assets soared nearly 30% there last year

Theories for what's driving the growth spurt abound, but it surpassed all other regions of the country.

8 apps advisers love for getting stuff done

We reached out to advisers to find out which apps they are using to run their business more efficiently.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print