EP Wealth Advisors, the fee-only national RIA based in California, has made a major stride in the Southeast with its latest and largest acquisition in the region.
On Tuesday, the firm announced it has acquired CornerCap Investment Counsel, a registered investment adviser based in Atlanta, Georgia.
The deal marks EP Wealth’s biggest expansion in the Southeast, adding nearly $1.1 billion in AUM. This acquisition aligns with EP Wealth’s strategy of increasing its national footprint while maintaining a focus on local, boutique client experiences.
"EP Wealth focuses on people when partnering with firms, and CornerCap is a talented group who will be a great addition to our team," Ryan Parker, CEO of EP Wealth, said in a statement. "Their values align with ours, and the partnership establishes an important Southeast hub as we continue on our path to becoming a single, nationwide RIA.”
CornerCap has served clients in the Southeast for 35 years, offering wealth management and investment research services. Cannon Carr, CEO of CornerCap, will join EP Wealth as regional director, along with other key personnel. “As part of EP Wealth, we’ll have enhanced resources to continue doing so for a growing client base that values commitment and care,” Carr said.
Including CornerCap, EP Wealth has landed four partnerships in 2024 so far, including a $700 million independent RIA in Texas and a $1.2 billion California practice. The acquisition in Atlanta, assisted by Wealth Partners Capital Group, is also EP Wealth's 33rd transaction since 2017.
"CornerCap's research capabilities and commitment to a 'client-first' culture align with the values and goals of EP Wealth," noted Nick Trepp, principal at Wealth Partners Capital Group.
In August, EP Wealth welcomed its first-ever chief people officer, Megan Glover, to help integrate its vision into HR practices as it continues to pursue strategic growth.
EP Wealth now manages more than $26.2 billion in assets, with over 36 offices across 13 states.
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