EP Wealth scoops $700M Texas practice

EP Wealth scoops $700M Texas practice
The fast-growing RIA boosts its assets in the state past $1B as it welcomes a 23-year planning and investment veteran as its new regional director.
JUL 01, 2024

EP Wealth Advisors has expanded its presence in Texas as it picks up a $700 million planning RIA firm.

The fast-growing national firm announced its acquisition of Dallas-based Sloan Investment Management, adding approximately $700 million in AUM to its portfolio.

This acquisition boosts EP Wealth’s total AUM in Texas to over $1 billion, contributing to a national total of $25.2 billion.

Sloan Investment Management, led by Managing Partner Frank Sloan, has built a reputation for providing customized financial planning and long-term investment strategies for its clients. The firm is known for its client-first approach and deep understanding of the Dallas market.

Following the acquisition, Sloan will take on the role of regional director and partner at EP Wealth. Casey Conway and James Henry will join as partners and senior vice presidents, while Shannen Smith will become vice president. The existing support staff will remain in place.

Ryan Parker, CEO of EP Wealth, highlighted his firm’s focus on “[partnering] with firms that share our commitment to delivering an excellent experience to clients” and “embracing an entrepreneurial spirit that never rests on our laurels.

“As we have gotten to know Frank and his team, we are confident that they embody these elements of our culture,” Parker said in a statement Monday.

Sloan echoed this sentiment, highlighting how the partnership gives his firm “access to significant additional resources to evolve the way we serve our clients. providing both a more robust client experience and growth opportunities.

“We remain dedicated to delivering personalized, high-quality financial advice," the 23-year industry veteran said.

Nick Trepp, principal at Wealth Partners Capital Group, which took a minority stake in EP Wealth in July 2017, praised Sloan’s approach.

"Sloan’s success stems from its dedication to providing exceptional client service and high-quality solutions – both from a planning and investment perspective," Trepp said.

“[I]t is exciting to see EP expand its footprint in the Dallas market because of this new partnership," he added. In April, the fee-only RIA bolstered its presence in California as it welcomed a sports-focused advisory team from RBC Wealth Management and acquired a $1.2 billion independent practice in San Luis Obispo.

Latest News

Social Security trustees see one less year in insolvency countdown, project shortfall to start 2034
Social Security trustees see one less year in insolvency countdown, project shortfall to start 2034

New report shows dimmed outlook for benefits to retirees and disabled Americans, creating further pressure for federal tax hikes or more borrowing.

NY Republican Stefanik presses SEC to probe Harvard bond sale
NY Republican Stefanik presses SEC to probe Harvard bond sale

Open letter to SEC Chair Paul Atkins questions whether the Ivy League university withheld material information prior to its $750 million taxable bond offering.

Ex-LPL leader re-emerges at The Wealth Consulting Group
Ex-LPL leader re-emerges at The Wealth Consulting Group

The Las Vegas-based hybrid RIA overseeing $8.8 billion in assets has named Andy Kalbaugh president to help scale its advisor platform.

Envestnet extends investment offerings with new alts model portfolios
Envestnet extends investment offerings with new alts model portfolios

The wealth tech giant – in collaboration with Fidelity, BlackRock, State Street, and Franklin Templeton – is offering its advisor and wealth firm users more ways to diversify.

Just as wealth industry M&A was picking up, economic uncertainty could kill it again
Just as wealth industry M&A was picking up, economic uncertainty could kill it again

Deal volume increased post-election but now caution has taken over.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave