EP Wealth Advisors LLC, an independent registered investment advisor that specializes in client-centric financial planning and investment management services, has acquired Donnelly Wealth Advisors Inc. in San Diego, California.
The acquisition will increase EP Wealth’s assets under management by more than $400 million, as well as adding more than 300 clients. Financial and legal terms of the deal were not disclosed.
Donnelly Wealth Advisors is an independent RIA firm that was founded in 1997 by Richard Donnelly, who will assume the role of regional director at EP Wealth. Two financial planners will assume new roles, as well, with Bradley Owen serving as senior vice president and senior wealth advisor, and Adam Werner serving as vice president and wealth advisor. The trio will all become partners at EP Wealth.
“[Donnelly Wealth Advisors] is one of the largest and fastest-growing fee-only RIAs in San Diego, and its multi-generational team will provide us with strong organic growth as we continue to enhance EP Wealth’s San Diego presence,” said Patrick Goshtigian, president and CEO of EP Wealth.
This is EP Wealth’s third acquisition in the last 12 months, after acquiring Private Capital Management Associates in San Mateo, California in June 2017 and Millie Capital Management of Walnut Creek, California earlier this year.
EP Wealth Advisors LLC is a fee-only RIA and financial planning firm based in Torrance, California, with additional offices in the San Francisco Bay area, West Los Angeles and Irvine, California, Seattle and Denver. The firm manages more than $3.6 billion in AUM as of March 31, 2018 and provides financial planning and investment management services to individuals and businesses.