TORRANCE, Calif.--(BUSINESS WIRE)--EP Wealth Advisors, LLC (“EP Wealth”), a leading independent registered investment advisor that specializes in client-centric financial planning and investment management services, has announced its acquisition of Millie Capital Management LLC (“MCM”).
With offices in Reno, Nev. and Walnut Creek, Calif., MCM is an independent registered investment advisor that specializes in designing investment plans and managing portfolios for high net worth individuals. MCM is dedicated to acting as a fiduciary for its clients and offers specialized services that help investors properly diversify and mitigate investment risk. The firm was founded by Ross Millie in 1991. Millie will assume the role of Senior Wealth Advisor at EP Wealth.
“Ross has spent the last 27 years building a dedicated fiduciary-minded financial planning practice and helping his clients achieve financial success. His commitment to offering high quality service complements our approach to doing business,” said Patrick Goshtigian, CFA®, President and CEO of EP Wealth. “Our size and scope can afford Ross greater leverage as he continues to meet these goals. We’re thrilled to partner with a likeminded advisor and work together to promote ongoing client success.”
“In order for me to spend more time with my clients, I need a partner who offers greater leverage and in-house expertise,” said Millie. “I was most attracted to EP Wealth’s investment philosophy and dedication to achieving consistent returns for its clients. I am excited to offer my clients exposure to this expertise and gain further leverage through EP Wealth’s customized and individualized approach to financial planning.”
This is EP Wealth’s third acquisition in Northern California since 2016. Ballou Plum Wealth Advisors in Lafayette joined EP Wealth in Jan. 2016, and Private Capital Management Associates in San Mateo was acquired in June 2017. Today’s transaction marks EP Wealth’s first since taking a minority investment from Wealth Partners Capital Group (“WPCG”), a financial services holding firm, in July 2017.
WPCG Partner Rich Gill commented, “The financial advice industry is increasingly complex, and EP Wealth offers a unique business model to smaller RIA firms. The partnership they’ve established with MCM showcases the power of their approach, the firm’s robust infrastructure and the team’s deep planning expertise, both for advisors and for the end clients.”
The acquisition closed on Feb. 9, 2018 and the transaction will increase EP Wealth’s assets under management by $240 million, as well as add 40 new households with average assets of more than $5 million to its roster. MCM was advised by David Selig, CEO of Advice Dynamics Partners. 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 advisor and financial planning firm based in Torrance, CA with additional offices in the San Francisco Bay area, West Los Angeles and Irvine, CA, Seattle and Denver. The firm manages over $3.29 billion in AUM as of December 31, 2017 and provides client-centric financial planning and investment management services to individuals and businesses. EP Wealth is led by co-founders and Managing Directors Derek Holman, CFP®, AIF®, 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 invested in and partnered with three leading wealth management firms. Through its three partner firms, EP Wealth Advisors, MAI Capital Management and Forbes Family Trust, WPCG is focused on identifying and integrating like-minded registered investment advisors 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.