EP Wealth Advisors, the PE-backed RIA acquirer, has simultaneously debuted in a new market and crossed a key AUM milestone via a landmark partnership.
On Tuesday, the Torrance, California-based firm announced its acquisition of Executive Wealth Management, marking the firm’s first entry into Michigan and a significant expansion of its Midwest presence.
The partnership brings approximately $1.6 billion in assets under management to EP Wealth, raising its total AUM to over $31 billion.
EWM’s integrated approach to financial, tax, investment, and legal services closely mirrors EP Wealth’s philosophy. But beyond that, Ryan Parker, chief executive of EP Wealth, emphasized a philosophical sync between the two firms.
“For nearly 40 years, EWM has provided clients with dedicated service and care while working towards financial goals together,” Parker said in a statement Tuesday. “When discussing the potential partnership, it was clear we share both a vision and commitment to enriching lives, so adding this team and their clients to the growing EP family is a natural fit.”
Founded in 1985 by Bert Herzog, Executive Wealth Management has built up a strong presence in Michigan with offices in Brighton, Northville, Jackson, and Ludington. Outside the state lines, it has locations in Florida and Colorado.
Herzog, whose four-decade BrokerCheck record originated in 1983, framed the partnership as a new chapter in his firm's continuing commitment to serving clients.
“This business is about people and putting clients first. If you aren’t focused on your clients, you’re in the wrong business,” he said. “Joining EP Wealth is an exciting milestone that strengthens the legacy of Executive Wealth Management and enables us to continue serving our clients with excellence while gaining access to additional resources that enhance our capabilities.”
The acquisition will bring nearly 50 EWM team members to EP Wealth, increasing its total employee count to over 500, including more than 150 advisors. Nine EWM partners, including Herzog, Michael Chechel, and Mike Lay, will transition to EP Wealth as employee-owners. Lay, who will step in as a regional director at EP Wealth, noted the firm’s shared dedication to community engagement.
“For years, we have been dedicated to building better futures for our clients and employees. This partnership will only strengthen our ability to do this and create even more opportunities to serve families throughout the Midwest,” he said.
EP Wealth's partnership with EWM was finalized in December, capping off a busy year for the firm's inorganic growth strategy backed by Berkshire Partners. It completed a record seven integrations, including a significant double-deal announced November which brought in additional partners in Maine and Texas.
Beyond that, its biggest new partners for 2024 were $1.1 billion RIA CornerCap in Georgia and fellow California firm Wacker Wealth Partners, which added $1.2 billion in assets.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Survey finds AI widely embedded in research and analysis, but barely touching portfolio construction or trade execution.
Two firms land teams managing more than $1.1 billion in combined assets from Kestra and Edward Jones.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
