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August 22, 2019

EP Wealth Advisors expands California presence with new purchase

California-based EP Wealth Advisors has acquired local peer Personal Financial Consultants.

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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
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The deal, whose value was not revealed, adds over $200m in assets to EP Wealth’s books.

EP Wealth said that the transaction boosts its presence in the San Francisco Bay area.

Headquartered in Lafayette, Personal Financial offers financial planning as well as investment management services.

EP Wealth president and CEO Patrick Goshtigian said: “EP Wealth remains focused on partnering with firms that share our philosophy and business approach.

“Loren built Personal Financial on the belief that financial advice should be customised to effectively meet the needs and goals of each client, which is the same holistic planning approach that drives our team’s work.”

All Personal Financial staff will move to EP Wealth as part of the deal.

Personal Financial founder Loren Kayfetz and partner Jonathan Spector will become vice president and wealth adviser at EP Wealth.

“As the planning landscape evolves and client needs become more complex, I sought a partner who could provide expanded technology offerings and in-house expertise, allowing our team to focus on a superior client experience,” Kayfetz noted.

The latest deal is EP Wealth’s third purchase this year.

Last month, the firm acquired Pathlight Investors. This May, EP Wealth snapped up Conlon Dart Wealth Management.

 

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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