EP Wealth Advisors Acquires NewFocus Financial Group

·4 min read

The acquisition expands EP Wealth’s financial planning capabilities in the Pacific Northwest and San Francisco Bay areas, while amplifying its presence through the NewFocus founders’ popular podcast and radio show

EP Wealth Advisors, LLC ("EP Wealth"), a leading independent registered investment adviser ("RIA") on a mission to provide clients with honest and objective advice from experienced financial advisor teams through personalized financial planning, customized investment portfolios, and integrated tax and estate planning, announced its acquisition of NewFocus Financial Group, LLC ("NewFocus"). The acquisition expands EP Wealth’s footprint to the area of Greater Vancouver, Washington, adds to the firm’s financial planning capabilities, and fortifies its commitment to quality investor education through the NewFocus founders’ popular podcast and radio show.

Based in Vancouver and with an additional office in San Mateo, California, NewFocus was founded by Rob Black and Chad Burton, CFP®. The firm specializes in helping clients build, maintain and preserve wealth, and provides comprehensive financial planning and investment management services for wealthy individuals and families, business owners, trusts, and retirement and pension plans. The NewFocus team will join EP Wealth, with Black serving as Radio Host and Partner and Burton assuming the role of Regional Director and Partner.

"NewFocus is regarded as a well-respected resource for clients and investors within its community," said Patrick Goshtigian, CFA, President and CEO of EP Wealth. "The team’s commitment to providing exceptional service and solutions for its clients aligns with our mission. We are excited to build on the reputation Chad, Rob and the NewFocus team have cultivated in their communities and extend EP Wealth’s reach to a new region."

Black and Burton have emerged as recognized voices in the financial services community through their respective radio show and podcast. Black is the host of "Rob Black & Your Money," a daily radio show offering market and investing insights. Burton hosts an investing- and financial planning-focused podcast, "NewFocus on Wealth," which provides insight on financial planning and wealth management trends and issues.

"Our goal is to empower our clients and communities by arming them with the knowledge they need to be successful, an approach that the EP Wealth team shares," Burton commented. "Our partnership aligns our core focus areas and will allow us to serve a broader group of investors."

Black added: "We have built a team of focused, experienced and credentialed individuals who are well-equipped to serve our clients. Our partnership with EP Wealth provides added resources, tools and technology that will harness the power of our team and extend their reach further."

EP Wealth has completed 14 transactions in a period of strategic growth for the firm. Since taking a minority investment from Wealth Partners Capital Group ("WPCG") in July 2017, EP Wealth has completed acquisitions in California, Washington, Colorado, Arizona, Illinois, Texas and Utah. In September 2020, the firm completed its largest acquisition to-date, adding The Insight Group and Financial Insight Center in Salt Lake City and Logan, Utah. In November, the firm announced its acquisition of Harris Financial Advisors in Torrance, California.

"In an increasingly competitive marketplace, firms that communicate and educate investors will earn more trust," said Rich Gill, Senior Partner at WPCG. "The partnership between EP Wealth and NewFocus underscores their shared commitment to clients, their financial literacy and their long-term financial success."

The acquisition closed Jan. 15, 2021, and will increase EP Wealth’s assets under management by more than $700 million. Financial and legal terms of the deal will not be disclosed.

About EP Wealth Advisors

EP Wealth Advisors, LLC ("EP Wealth") is a fee-only registered investment adviser and financial planning firm based in Torrance, California, with additional offices in the San Francisco Bay area, San Diego, West Los Angeles and Irvine, California; Salt Lake City and Logan, Utah; Seattle, Phoenix, Denver, Dallas and the Chicago region. The firm manages over $10.7 billion in AUM as of Dec. 31, 2020, and provides client-centric financial planning, investment management and integrated tax and estate planning services to individuals and businesses. EP Wealth is led by co-founders and Managing Directors Derek Holman, CFP®, AIF®, and Brian Parker, CFP®, and President and CEO Patrick Goshtigian, CFA®. For more information, please visit www.epwealth.com.

About Wealth Partners Capital Group

Wealth Partners Capital Group ("WPCG") is a financial services holding company, which has partnered with EP Wealth Advisors ("EP Wealth"). WPCG assists EP Wealth by identifying and integrating like-minded registered investment advisers who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. The WPCG management team is led by partners John W. Copeland, Rich Gill and Sean Bresnan. For more information, please visit www.wealthpcg.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005753/en/

Contacts

Marissa Foy Comerford
Gregory FCA for EP Wealth
EP@GregoryFCA.com
610-228-2104