California-based RIA acquires $200 million RIA

California-based RIA acquires $200 million RIA
Personal Financial Consultants adds $200 million in assets to $4.4 billion EP Wealth Advisors
AUG 21, 2019

EP Wealth Advisors, a Torrance, Calif.-based registered investment adviser that manages almost $4.4 billion in assets, has acquired Personal Financial Consultants, an RIA in Lafayette, Calif., which managed $200 million in assets. [More:​ RIA rundown 2019: Top fee-only RIAs by state] The acquisition bolsters EP Wealth Advisors' presence in the San Francisco Bay area, the company said in a release. Personal Financial was founded in 1985 by Loren Kayfetz. He and his partner, Jonathan Spector, have become vice presidents and wealth advisers at EP Wealth, and all other employees of Personal Financial have also joined EP Wealth. [Recommended video: How fintech is evolving the onboarding process for clients and advisers] Financial and legal terms of the deal were not disclosed.

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