EP Wealth Advisors is expanding its Torrance, California footprint with the acquisition of local competitor, Harris Financial Advisors.
The deal marks the 13th acquisition by EP Wealth since it sold a minority ownership stake to private equity firm Wealth Partners Capital Group in July 2017.
With the addition of Harris Financial, which manages $535 million in client assets, EP has more than $9 billion in total assets under management and has completed acquisitions in California, Washington, Colorado, Arizona, Illinois, Texas and Utah.
“In partnering with EP Wealth, we are strategically furthering our commitment to our clients,” said Mary Harris, founder of the 28-year-old advisory firm.
“EP Wealth’s wide-ranging resources and comprehensive expertise in investment and financial management will add value, supporting us as we work toward achieving our clients’ financial goals,” she added.
Also, Orion has added BlackRock, Fidelity, and Vanguard to its custom portfolios suite, and RedBlack has set up a new headquarters after crossing a trillion-dollar milestone.
Also, New York-based Legacy Edge Advisors names its first-ever CEO, while Novare Capital Management hires a Vanguard veteran with a multigenerational planning focus.
Asset managers are racing to bring private market products to retirement plans, but cost and liquidity concerns linger.
Treasury's latest tax-exemption crackdown on private schools lands in the wake of a separate push to restrict refundable credits for some immigrant filers.
Workforce trust measures predicted which companies came out ahead during COVID-19. The same dynamic may now be playing out across the AI transition — and the data suggests the spread could be just as wide.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
