Wealthspire Advisors and EP Wealth Advisors each advanced their expansion strategies this week, with Wealthspire set to extend its West Coast footprint and EP notching a key acquisition in New Mexico.
Wealthspire Advisors, an NFP company with $31 billion in assets under management, said it has entered into an agreement to acquire Marin Financial Advisors, a boutique RIA with more than $380 million in assets.
Based in Larkspur, California, Marin Financial Advisors is led by its principal Colin Drake, whose IAPD record with the SEC goes back to 2002. The firm has been providing financial guidance to individuals and families since 1987, according to a statement announcing the deal Tuesday.
Making the transition along with Drake is Client Service Director Christine Cione, as well as a larger team of professionals at Marin Financial Advisors.
Wealthspire has integrated more than nine firms since 2019. Over the past several years, Wealthspire's acquisitions have included GM Advisory Group in 2023, which brought more than $6 billion in client assets, and its more modest deal for Heron Wealth that same year. In 2024, it snapped up Walden Wealth Partners to expand its Midwestern presence while adding $420 million in AUM.
“We are excited to welcome the Marin Financial Advisors team,” said Wealthspire CEO Mike LaMena in a statement Tuesday, noting that both firms share a commitment to client service and fiduciary standards. He added that the acquisition “reflects our continued commitment to seeking out like-minded advisors who prioritize longstanding client relationships.”
Meanwhile, fee-only RIA EP Wealth Advisors, which reported over $36.4 billion in assets as of June 30, announced its acquisition of Better Money Decisions, a Santa Fe, New Mexico-based RIA with approximately $370 million in assets under management.
The team behind the women-led firm founded in 2015 includes Managing Partner Lea Ann Knight, who will step into EP Wealth as regional director and partner, as well as four wealth advisors and one office services associate. As part of the transition, the firm's other managing partner, Lorraine Ell, will retire after more than four decades in the financial services industry.
“BMD is a firm that leads with heart and purpose,” EP Wealth CEO Ryan Parker said Tuesday. He noted that Better Money Decisions’ philosophy of helping clients use money as a tool for living well “aligns with our own client-first approach.”
The deal with BMD, EP Wealth's eight strategic partnership this year, follows a series of other acquisitions this summer, including $1.2 billion Rappaport Reiches Capital Management in Chicago and $900 million Buffington Mohr McNeal in Idaho.
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The SEC-registered RIA advises on more than $1 billion in client assets, with no advisory fee through 2027 and no human financial advisors.
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