Southern California RIA looks to acquire

Torrance, Calif., based firm has expanded into San Diego and Orange County, and has bigger aspirations
DEC 11, 2013
An independent financial advisory firm in Southern California with $1.4 billion in assets under management is opening its wallet and looking for deals. Torrance, Calif.-based EP Wealth Advisors Inc. is looking to acquire other firms in Southern California, according to the president of the fee-based registered investment adviser. “We've been able to achieve strong organic growth and were fortunate for that, but part of why I was hired in 2011 — two years ago — was to institutionalize the business and achieve additional growth,” said the president, Patrick Goshtigian, in an interview. “It allows us to provide an opportunity to benefit from the scale we're starting to achieve and provides a mechanism by which they can achieve some succession planning or just take advantage of that scale and be able to focus more on their clients and growth of their client base.” EPWA has partnered with Advice Dynamics Partners LLC to manage the process. Mr. Goshtigian said his firm is likely looking for independent advisers managing between $100 and $300 million in assets. The firm has ambitions to reach $5 billion in managed assets overall, he said. EPWA was formed in 2004, the product of a merger between Premier Financial Management LLC and Enright Financial Consultants Inc.

Latest News

Schwab loses $4.5 million lawsuit to teachers who bought structured products
Schwab loses $4.5 million lawsuit to teachers who bought structured products

The products in question were a mix of sophisticated, complex and potentially volatile offerings.

Concurrent adds $425 million Houston team as breakaway wave continues
Concurrent adds $425 million Houston team as breakaway wave continues

Winstone Wealth Partners joins Concurrent from Raymond James, pushing the RIA platform's assets past $23 billion this year.

Democratic lawmakers demand probe into DOL 401(k) rule comments
Democratic lawmakers demand probe into DOL 401(k) rule comments

Senior Democrats including Senator Bernie Sanders urge a DOJ and FBI investigation into thousands of allegedly fake comments backing DOL's private-assets 401(k) rule.

Retirement assets hit $51.2 trillion as savers keep contributing
Retirement assets hit $51.2 trillion as savers keep contributing

Total US retirement holdings jumped 7.9% in the second quarter, with 401(k) balances and IRA contributions both climbing despite lingering economic unease

Global M&A value rises 15%, with highest sentiment in financial sector
Global M&A value rises 15%, with highest sentiment in financial sector

Megadeals are surging in 2026, but small and mid-market transaction volume remains well below historical norms.

SPONSORED In the Age of AI, Trust Becomes the Advisor's Greatest Asset

As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains