EP Wealth Advisors is continuing its ongoing acquisition streak with the purchase of St. George-based Vantage Advisors.
The deal, whose financial terms were not disclosed, was closed on 29 April 2022.
The acquired entity provides financial planning and tax preparation for entrepreneurs, executives and professionals.
The deal increases EP Wealth’s assets under management (AuM) by $349m and expands its current footprint in the state of Utah to three locations. The firm already has a presence in Salt Lake City and Logan.
As part of the deal, Vantage Advisors CEO and founding member Gregory Kemp will become a consultant at EP Wealth while president and wealth manager Neal Marchant will join the firm a senior vice-president.
Four additional staff members will also join EP Wealth.
EP Wealth CEO Patrick Goshtigian said: “Vantage Advisors’ client-centric approach emulates the core values at EP Wealth.
“Their expertise in holistic tax and financial planning complements our work with clients. We are excited to partner with them as we expand our presence to southern Utah.”
Marchant added: “We will be able to leverage their in-house resources and tools to optimise our impact for clients and help them meet their planning goals.”
The deal marks EP Wealth’s 23rd transaction in the last five years.
The firm, which secured a minority investment from Wealth Partners Capital Group in July 2017, has expanded its presence in California, Washington, Colorado, Arizona, Illinois, Texas and Utah through acquisitions.
This year, the firm made a number of acquisitions, including that of Coulston Financial Service, Klein Financial Advisors and Mindful Money.