EP Wealth Adds Two Wealth Mgmt Practices with $828M

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EP Wealth Advisors says it has acquired two wealth management practices expanding its footprint in California and Washington state.

Founded in 2001 by Jonathan DeYoe, Mindful Money is EP Wealth’s seventh acquisition in the region since 2016, according to the firm. DeYoe, who previously served as Mindful Money’s president, is joining EP Wealth as a senior vice president, the company says. He’s joined by three more financial advisors and four support staff, according to EP Wealth.

The addition of Mindful Money adds more than $346 million in assets under management to EP Wealth, the company says.

DeYoe said in a statement that joining EP Wealth will allow his team “to focus more on our work with [our clients], providing financial education and being involved in their communities.”

The companies didn’t disclose the financial terms of the deal, which closed on December 22, 2021.

In addition, EP Wealth says that it has acquired a team of four financial advisors and three staff based in Kirkland, Washington.

Led by Todd Flynn and John Buller, the team will bring over $482 million to EP Wealth, according to the firm.

The addition will expand the firm’s presence in the Puget Sound region. The company already has offices in Seattle, Mt. Vernon and Friday Harbor as well as Vancouver, EP Wealth says.

Flynn and Buller have been in the financial services industry since 2002 and were registered with Soundmark Wealth Management in Kirkland until their move to EP Wealth, according to the Securities and Exchange Commission’s Investment Advisor Public Disclosure database.

Buller said in a statement that his team “saw a lot of value in joining a larger firm with a growing presence in Washington state.”

As part of the acquisition, Flynn joins EP Wealth as senior vice president and Buller as senior wealth advisor, according to the firm.

The companies didn’t disclose the financial terms of the deal, which closed on December 28.

In November, EP Wealth announced that it acquired a $103 million RIA based in Washington.

Last year, the company also added Homewood Capital Management in Danville, California, as well as Torrance, California-based advisor Abbas Heydari and New Focus Financial Group, a registered investment advisor firm with offices in Washington and California, according to the firm.

In 2020, EP Wealth made five acquisitions, making it one of the top RIA acquirers that year, according to DeVoe.

Torrance-based EP Wealth, led by co-founders and managing directors Derek Holman and Brian Parker and president and chief executive officer Patrick Goshtigian, managed more than $13.3 billion as of the end of September, the company said.

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