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January 27, 2022

EP Wealth Advisor buys Klein Financial Advisors to expand reach

California-based registered investment advisers (RIA) EP Wealth Advisors has acquired Newport Beach-based Klein Financial Advisors, further expanding its reach in the home market.

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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
Enter your details here to receive your free Report.

The deal, whose financial terms were not disclosed, was closed on 21 January 2022.

Founded by Lauren Klein in 2003, Klein Financial Advisors is a boutique financial planning and wealth management firm. The firm focus on helping women manage their wealth through life’s transitions.

As part of the deal, Klein will take up the role of vice president and senior wealth advisor at EP Wealth Advisors. She is serving as president of Klein Financial Advisors.

Klein said: “My main goal is to instil confidence in women as they navigate life events like parenthood, divorce, re-marriage, being widowed and more. I want them to feel in control of their finances by empowering them with the advice, tools, and resources to help them excel amid life’s ups and downs. That’s why we partnered with EP Wealth. We look forward to the expanded services and offerings for our clients that EP will offer.”

Klein Financial Advisors client service manager Jamie Klein will also move to the EP team.

The latest deal marks EP Wealth’s 22nd transaction in the last five years.

Commenting on the deal, EP Wealth president and CEO Patrick Goshtigian said: “Klein Financial is a team dedicated to helping clients reach their full potential in life.

“That is something we strive to do every day at EP Wealth. We are thrilled to partner with a firm whose philosophy mirrors ours and that will expand our financial planning services for life’s major transitions, particularly for women.”

EP Wealth, since securing a minority investment from Wealth Partners Capital Group in July 2017, has accelerated its consolidation strategy.

Last year, it struck several deals with firms majorly based in California and Washington. These include the acquisition of Homewood Capital Management, Sound Financial Management, New Focus Financial Group, Friday Harbor, and Mindful Money.

EP Wealth said that it has plans to expand its organisation and capabilities this year.

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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