The Utah-based acquisition marks EP Wealth’s largest transaction to date and adds to its comprehensive wealth management offerings for clients
EP Wealth Advisors, LLC ("EP Wealth"), a leading independent registered investment adviser ("RIA") that specializes in client-centric financial planning and investment management services, announced its acquisition of The Insight Group, Inc. and Financial Insight Center, LLC ("Insight" in reference to both). This is EP Wealth’s largest acquisition to date and marks a significant milestone in its growth trajectory as the firm expands its reach to Utah.
Based in Salt Lake City, Utah, and with an additional office in Logan, Utah, Insight provides wealth management services for individuals and families and seeks to facilitate a highly customized experience for its clients. The firms, which share a management team, focus on distinctive client bases, with The Insight Group catering to high-net-worth individuals and Financial Insight Center providing personalized investment advice for a wider range of clients. Insight’s leadership team and staff will assume roles at EP Wealth following the acquisition. Founding owners Mark Matley and Paul Salisbury will both take on Regional Director positions, as well as become Partners at EP Wealth. Chuck Cutler and Brady Jardine will become Senior Vice Presidents and Partners.
"Insight has achieved remarkable success within the industry and on behalf of its clients, due in large part to its highly specialized team and loyal client base," said Patrick Goshtigian, CFA, President and CEO of EP Wealth. "We quickly recognized a shared client-first philosophy and a mutual commitment to providing quality solutions and resources. Their expertise and customized approach complement our work with clients, and we are excited to add them to our team."
Matley added: "We are proud of the great success our firm has enjoyed throughout its history. As we continued to grow, we saw an opportunity to partner with the EP Wealth team and take advantage of their scale, back office and compliance support, as well as the depth and breadth of their team."
"Our partnership with EP marks a significant new chapter for our clients," said Salisbury. "We are excited to enhance our offerings and breadth of available solutions through EP, allowing us to provide even more specialized support moving ahead."
The acquisition marks the 12th and largest transaction in a period of strategic growth for EP Wealth. 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 and Texas. Most recently, the firm expanded its presence in the Phoenix region with the acquisition of Providus Advisors.
"EP and Insight have formed a strong relationship over the past two years," commented Sean Bresnan, Partner at WPCG. "As rapid consolidation in the RIA space continues, it is exciting to see EP cultivate partnerships with client-focused firms like Insight and continue to expand its national presence."
The acquisition closed Sept. 30, 2020, and will increase EP Wealth’s assets under management by more than $1 billion. 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, Seattle, Phoenix, Denver, Dallas and the Chicago region. The firm manages more than $7 billion as of June 30, 2020, 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®, 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.
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Marissa Foy Comerford
Gregory FCA for EP Wealth