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September 1, 2021

EP Wealth Advisors bolsters California presence with latest deal

By Verdict Staff

California-based RIA EP Wealth Advisors has acquired Homewood Capital Management, expanding its reach in the Greater San Francisco region to include the Danville area.

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  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
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by GlobalData
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The deal, who financial terms were not revealed, strengthens EP Wealth’s overall financial planning expertise and boosts its assets under management by over $120m.

Established in 1994 by William Wee, Homewood offers customised financial planning services to high-net-worth individuals and families.

EP Wealth will absorb the entire Homewood team, including Wee, as part of the transaction.

Wee will become a senior wealth adviser at EP Wealth.

Commenting on the deal, Wee said: “I am thrilled to align with EP Wealth under a united mission of providing comprehensive, holistic and personalised planning solutions for our clients. I am eager to expand and leverage EP Wealth’s extensive offerings, resources and solutions for my clients.”

EP Wealth president and CEO Patrick Goshtigian said: “The team at Homewood embodies the same dedication to clients’ overall well-being that we value at EP Wealth.

“Their team has an established history of providing top-tier service and demonstrating a commitment to clients’ every day financial needs, which aligns closely with our team’s overall philosophy. We are excited to be partnering with Billy and his team as we expand our presence in the Northern California region.”

The latest deal, which marks EP Wealth’s 16th transaction, advances its ongoing consolidation activities.

The firm, which took an investment from Wealth Partners Capital Group (WPCG) in July 2017, completed acquisitions in Texas, California, Colorado, Washington, Arizona, Illinois, and Utah.

In February this year, EP Wealth Advisors acquired the business of Abbas Heydary, adding financial planning expertise to its Torrance base.

It followed the company’s takeover of NewFocus Financial Group in January.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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