EP Wealth expansion, RFG majority deal highlight alternate paths in RIA M&A surge

EP Wealth Advisors is accelerating its national expansion strategy, while RFG Advisory is deepening its capabilities in advisor succession in two approaches that show how dealmaking is evolving across the wealth management industry.

EP Wealth announced it is expanding its reach in the Mid-Atlantic market through a partnership with Bethesda, Maryland-based Divergent Planning, adding approximately $418 million in client assets and establishing a new East Coast region.

The move extends EP Wealth’s already substantial footprint, which spans more than $42.2 billion in assets and over 67 offices nationwide, and reflects a continued push to grow through culturally aligned partnerships.

Founded in 2010 by Ara Abrahamian and Matt Brock, Divergent built its business around transparency and fiduciary advice, formally transitioning to a fee-only RIA model in 2017. That alignment was central to the deal, executives said.

“From the beginning, our goal at Divergent has been to build a firm rooted in trust, transparency, and true accountability to our clients,” said Abrahamian. “Partnering with EP Wealth allows us to preserve that mission while giving our clients and our team the scale, resources, and long-term support of a firm that shares our fiduciary values and commitment to putting clients first.”

Seven team members from Divergent will join EP Wealth, forming the firm’s first regional presence in Maryland and expanding its ability to serve clients across the East Coast.

“Divergent Planning represents exactly the kind of team we want to grow with at EP Wealth—planning-led, fiduciary-minded, and deeply committed to earning client trust,” said Ryan Parker, CEO of EP Wealth. “This partnership expands our Mid-Atlantic region and reflects our strategy of expanding with firms that strengthen our culture, deepen our capabilities, and enhance what we can deliver to clients over the long term.”

The transaction marks EP Wealth’s fourth partnership of 2026, continuing a steady cadence of growth through acquisition.

RFG’s new investment

Meanwhile, RFG Advisory is pursuing a different, but equally strategic, path by using majority investments to help advisors navigate ownership transitions.

The Birmingham, Alabama-based firm has taken a majority stake in RVA Wealth Management, a Richmond, Virginia firm overseeing more than $320 million in client assets, marking RFG’s first majority acquisition and signaling an expansion of its capital solutions offering.

“This transaction represents an important evolution in how RFG shows up for advisors across every stage of their journey,” said Shannon Spotswood, CEO of RFG Advisory. “We’ve always been focused on helping Advisors build enterprise value and grow intentionally. With RVA, we’re demonstrating our ability to also be the right partner when it’s time to monetize, transition leadership, and ensure continuity for clients and team members alike.”

RVA founder David Koren pursued the transaction as part of a longer-term succession plan, seeking to preserve the firm’s client relationships and planning philosophy while transitioning leadership. Caleb Vaughan will continue in a key next-generation leadership role.

RVA will retain its brand and operate within RFG’s platform as a W-2 partner firm, gaining access to expanded infrastructure and resources while maintaining continuity for clients.