$28.9B EP Wealth extends 2024 deal count with twin acquisitions

EP Wealth Advisors is extending its 2024 deal streak as it reveals a pair of pre-Election Day acquisitions in New England and the Lone Star State.

On Monday, the firm announced it had acquired Gather Financial Planning in Maine and Riley Private Client in Texas, furthering expanding its nationwide reach into the two regions.

On top of adding more than $240 million in assets under management, the acquisitions bring EP Wealth’s total transaction tally in 2024 to seven, building on its most recent M&A victory in September when it snapped up $1.1 billion RIA firm CornerCap Investment Counsel.

“With these partnerships, we are able to serve more families across the country, staying true to our mission of enriching lives through guidance in achieving financial goals,” Ryan Parker, CEO of EP Wealth, said in a statement Monday. “Firms like Gather Financial and Riley Private Client allow us to offer clients personalized attention while benefiting from the resources of a larger organization.”

Founded by Michael Goldman and Abby Morton, Gather Financial Planning has offices in Bangor and Falmouth, Maine. It represents EP Wealth’s third New England acquisition since 2022, adding to its presence in New Hampshire, northern Massachusetts, and Boston.

Goldman, who will join EP Wealth as a vice president and advisor, expressed optimism about the transition.

“Joining EP Wealth will provide additional resources and expertise, such as tax and estate planning services, which will help us deliver even greater value to our current and future clients,” he said.

Meanwhile in Texas, Graham-based Riley Private Client, based in Graham, has been led by Doug Jones since the passing of its namesake founder Bill Riley in 2022. The firm's integration into EP Wealth was initiated by Dallas Regional Director Frank Sloan, who joined the firm as part of its July deal to acquire Dallas-based Sloan Investment Management.

“Our familiarity with the former Sloan team strengthened our confidence in partnering with a firm like EP,” said Jones, who will also join EP Wealth as a vice president and advisor. This acquisition brings EP’s managed assets in North Texas to over $1.2 billion.

EP Wealth Advisors now operates over 37 offices across 13 states, offering financial, tax, and estate planning services nationwide. The serial RIA acquirer, which manages more than $28.9 billion in assets, secured backing from PE firm Berkshire Partners in 2020, when it had just $7 billion in AUM within its network.