EP Wealth Advisors, a California-based RIA, has strengthened its regional footprint with the purchase of CPIC International. The transaction value was not revealed.
Based in San Francisco, CPIC provides specialised financial services and portfolio management.
The deal adds around $110m in assets under management (AuM) to EP Wealth’s books and increases its client base by 55.
CPIC founders Diane Jakubowski and Thomas Bonomo will join EP Wealth as part of the deal.
Jakubowski will take up the role of senior wealth adviser while Bonomo will become the business operations manager.
EP Wealth president and CEO Patrick Goshtigian said: “Our team continues to seek opportunities that will fortify our offerings for clients and extend our geographic reach. The acquisition will enhance our investment management expertise and build on our momentum in the San Francisco area with a partner who shares our vision.”
Jakubowski added: “EP Wealth has committed to large-scale investment management resources that include technological tools and client-centric resources. The partnership opens doors to new financial planning services for our clients to meet their financial goals.”
In 2017, EP Wealth received a minority investment from Wealth Partners Capital Group and has since acquired eight firms.
Last year, it acquired Rampart Wealth Advisors in Greenwood Village, Donnelly Wealth Advisors in San Diego, Caves & Associates based in Manhattan Beach, and Walnut Creek-based Millie Capital Management.