EP Wealth Advisors Makes a Strategic Move with Acquisition
EP Wealth Advisors, a prominent registered investment adviser located in Torrance, California, has completed the purchase of CornerCap Investment Counsel, a respected firm from Atlanta. This acquisition significantly bolsters EP Wealth's market presence, adding nearly $1.1 billion to their assets under management and showcasing their dedication to growth and expansion.
Collaboration Enhances Client Services
Ryan Parker, the CEO of EP Wealth, highlighted the importance of shared values between the two organizations. He remarked, "EP Wealth prioritizes people when choosing partners, and CornerCap is a talented group who will enrich our team. Most importantly, they align with our commitment to exceptional client service." This collaboration is set to allow EP Wealth to offer a more personalized and boutique experience, staying true to their mission of delivering outstanding service.
CornerCap's Reputation and Dedication
For 35 years, CornerCap has excelled in providing top-tier wealth management services, especially in the Southeast. With a strong focus on investment research and a client-first mentality, the firm has continually pursued innovative solutions for its clients. Following the acquisition, Cannon Carr, CornerCap's CEO, will step into the role of regional director. This new position will allow him to harness EP Wealth’s extensive resources while broadening the reach of their proprietary research system, Fundametrics, to a larger clientele.
Expansion Brings Together Key Talent
This acquisition signifies not just a strategic growth opportunity for EP Wealth but also an expansion of their talented workforce. Alongside Carr, Senior Vice President Richard Bean, Senior Wealth Advisor Tom Quinn, and other proficient professionals will join the team. This rich diversity in expertise across advisory services, investments, and financial planning reflects EP Wealth’s commitment to enhancing their service capabilities.
Reinforcing the Client-First Approach
Nick Trepp, a principal at Wealth Partners Capital Group, noted that integrating CornerCap is crucial to EP Wealth’s ongoing growth strategy. This partnership highlights both firms’ shared commitment to a "client-first" culture, emphasizing personalized service and a keen focus on client needs. Such collaboration is vital as EP Wealth continues to broaden its national presence.
What’s Next for EP Wealth Advisors?
This latest transaction marks EP Wealth's fourth acquisition so far this year, illustrating a robust and strategic investment path. With a total of 33 acquisitions completed since 2017, EP Wealth is well-positioned for ongoing growth. This new partnership enhances their offerings, demonstrating a commitment to providing comprehensive financial services that meet a range of client needs.
Clarifying the Acquisition Details
While the specific financial and legal terms of the acquisition remain confidential, the strategic benefits of this partnership are evident. By integrating CornerCap’s established services with their own robust infrastructure and national resources, EP Wealth is set to create exciting prospects for both current and future clients.
About EP Wealth Advisors
As a fee-only registered investment adviser, EP Wealth Advisors manages over $26.2 billion in assets as of mid-2024. The firm is well-regarded for its client-focused financial, tax, and estate planning services, in addition to investment management. Celebrating 25 years in business, EP Wealth remains dedicated to helping families achieve their financial goals.
About Wealth Partners Capital Group
Wealth Partners Capital Group specializes in partnering with leading wealth management firms, offering strategic growth opportunities and integrating advisers with aligned values. Their expertise serves as an invaluable resource for firms aiming to expand capabilities and implement customized transition solutions.
Frequently Asked Questions
What is the significance of EP Wealth's acquisition of CornerCap?
The acquisition boosts EP Wealth by nearly $1.1 billion in assets under management, representing a strategic move to enhance their services and market reach.
How long has CornerCap operated in the wealth management sector?
CornerCap has been providing wealth management services for 35 years, with a strong focus on crafting innovative solutions for clients.
What role will Cannon Carr have after the acquisition?
Cannon Carr will become the regional director at EP Wealth, facilitating the integration of CornerCap's experienced professionals into the broader EP Wealth organization.
What does EP Wealth aim to achieve with this acquisition?
The goal is to create a stronger, more localized service experience for clients while expanding their national reach and resources.
How has EP Wealth's growth trajectory been documented?
This acquisition marks the fourth for 2024 and the 33rd since 2017, highlighting a consistent growth strategy that emphasizes strategic partnerships in wealth management.
