EP Wealth Advisors Expands Reach with CornerCap Acquisition
EP Wealth Advisors Undertakes Strategic Acquisition
EP Wealth Advisors, a notable registered investment adviser based in Torrance, California, has successfully acquired CornerCap Investment Counsel, a well-respected firm based in Atlanta. This acquisition strengthens EP Wealth's position in the market significantly by adding nearly $1.1 billion to their assets under management, reflecting their commitment to growth and expansion.
New Partnership Promotes Localized Client Services
Ryan Parker, CEO of EP Wealth, emphasized the importance of aligning values between the two firms. He stated, "EP Wealth focuses on people when partnering with firms, and CornerCap is a talented group who will be a great addition to our team. Most importantly, they share our commitment to great client service." This strategic collaboration will enable EP Wealth to provide a more localized and boutique experience for their clients, maintaining their core mission of outstanding service.
CornerCap's Legacy and Commitment
CornerCap has been providing exceptional wealth management services for 35 years, particularly within the Southeast region. With a strong emphasis on investment research and a client-centered approach, the firm has continuously sought innovative solutions for its clients. Under the new structure, Cannon Carr, the CEO of CornerCap, will take on the role of regional director. This will enable him to leverage EP Wealth’s extensive resources while introducing their proprietary research system, Fundametrics, to a wider clientele.
Team Expansion Highlights Key Talent
The acquisition not only represents a strategic growth opportunity for EP Wealth but also expands their talented team. Along with Carr, Senior Vice President Richard Bean, Senior Wealth Advisor Tom Quinn, and additional skilled professionals will join the company. This diverse expertise across advisory, investments, and financial planning underscores EP Wealth’s dedication to enhancing their service capabilities.
Strengthening the Client-First Philosophy
Nick Trepp, a principal at Wealth Partners Capital Group, described the integration of CornerCap as pivotal in EP Wealth’s ongoing growth strategy. This partnership is a testament to both firms’ shared commitment to a "client-first" culture, emphasizing personalized service and attention to client needs. Such synergy is crucial as EP Wealth continues to expand its national reach.
What’s Next for EP Wealth Advisors?
This transaction marks the fourth acquisition for EP Wealth in the current year, illustrating a robust and strategic investment trajectory. With 33 total acquisitions since 2017, EP Wealth is poised for continuous growth. The enhancement of their offerings through this new partnership signals a commitment to providing comprehensive financial services that cater to diverse client needs.
Understanding the Terms of the Acquisition
While the financial and legal terms of the acquisition have not been made public, the strategic implications of this partnership are clear. EP Wealth's ability to integrate CornerCap’s established services with their own robust infrastructure and national resources creates an exciting prospect for current and future clients.
About EP Wealth Advisors
As a fee-only registered investment adviser, EP Wealth Advisors manages more than $26.2 billion in assets as of mid-2024. The firm is recognized for its client-centric financial, tax, and estate planning services as well as investment management. Celebrating its 25th anniversary, EP Wealth continues to focus on assisting families in achieving their financial objectives.
About Wealth Partners Capital Group
Wealth Partners Capital Group specializes in partnering with leading wealth management firms, providing strategic growth opportunities and integration of like-minded advisers. Their expertise serves as a valuable resource for firms looking to expand capabilities and implement tailored transition solutions.
Frequently Asked Questions
What is the significance of EP Wealth's acquisition of CornerCap?
The acquisition adds nearly $1.1 billion to EP Wealth's assets under management, marking a strategic expansion in their services and reach.
How long has CornerCap operated in the wealth management sector?
CornerCap has been delivering wealth management services for 35 years, focusing on innovative client solutions.
What role will Cannon Carr have after the acquisition?
Cannon Carr will transition to the role of regional director at EP Wealth, helping to integrate CornerCap's experienced team into the broader EP Wealth framework.
What does EP Wealth aim to achieve with this acquisition?
EP Wealth aims to create a more robust and localized service experience for clients while expanding their national footprint and resources.
How has EP Wealth's growth trajectory been documented?
This acquisition is the fourth in 2024 and the 33rd since 2017, indicating a consistent growth strategy focusing on strategic partnerships within wealth management.
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