EP Wealth Advisors has expanded its footprint to the Greater Vancouver, Wash,. area with the acquisition of NewFocus Financial Group LLC, a $700 million registered investment advisor, the company announced today.
Financial and legal terms of the deal, which closed Jan. 15, were not disclosed.
NewFocus, with an additional office in San Mateo, Calif., was founded by Rob Black and Chad Burton, who are widely recognized within their communities through their radio and podcast shows. According to a press release, their commitment to investor education was a significant driver behind the acquisition in that it complements EP’s focus in this area.
The firm provides comprehensive financial planning and investment management services for wealthy individuals and families, business owners, trusts, and retirement and pension plans. The NewFocus team will join EP Wealth, with Black serving as radio host and partner and Burton as regional director and partner.
Black is the host of “Rob Black & Your Money,” a daily radio show offering market and investing insights, and Burton hosts an investing and financial planning-focused podcast, “NewFocus on Wealth,” which provides insight on financial planning and wealth management trends and issues.
“Our goal is to empower our clients and communities by arming them with the knowledge they need to be successful, an approach that the EP Wealth team shares,” Burton said in a statement. He added that the partnership with EP Wealth aligns their core focus areas and will allow them to serve a broader group of investors.
Patrick Goshtigian, EP Wealth’s president and CEO, said NewFocus is regarded as a well-respected resource for clients and investors within its community, and that the acquisition extends EP Wealth’s reach to a new region.
This is EP Wealth’s 14th acquisition. Since taking a minority investment from Wealth Partners Capital Group in July 2017, EP Wealth has completed acquisitions in California, Washington, Colorado, Arizona, Illinois and Texas.
The firm provides client-centric financial planning, investment management and integrated tax and estate planning services to individuals and businesses. It had more than $10.7 billion in asset under management as of Dec. 31.