By Andrew Welsch
EP Wealth Advisors made one of its largest acquisitions ever, buying Executive Wealth Management, a registered investment advisor with $1.6 billion in assets under management.
The deal boosts EP Wealth's total AUM to more than $31 billion, the company said Tuesday. The firm did not disclose terms of the deal, which was finalized in December.
EP Wealth ranked No. 11 on Barron's Top 100 RIA Firms for 2024.
The firm's latest acquisition boosts EP Wealth's presence in the Midwest as Executive Wealth Management has four offices in Michigan: Brighton, Northville, Jackson and Ludington. The Michigan RIA also has locations in Florida and Colorado, according to EP Wealth.
Executive Wealth Management was founded in 1985 by Bert Herzog. By joining EP Wealth, he said his firm will gain access to additional resources and capabilities. The RIA's nearly 50 team members will join EP Wealth, bringing total employee head count to more than 500, according to the company.
Torrance, California-based EP Wealth is backed by private-equity firm Berkshire Partners. It has done dozens of acquisitions since 2017. Among its most recent deals, it bought CornerCap Investment Counsel in September. CornerCap had nearly $1.1 billion in assets under management.
Write to Andrew Welsch at andrew.welsch@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
January 07, 2025 13:45 ET (18:45 GMT)
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