Torrance, Calif.-based EP Wealth Advisor, an independent registered investment adviser that specializes in client-centric financial planning and investment management services, has acquired International Research & Asset Management, Inc., of Dallas, Texas, with $394 million in assets under management, according to a news release.

The transaction closed on Monday. Terms of the deal were not disclosed.

EP Wealth Advisors said in its announcement that the acquisition establishes its presence in Texas and enhances its investment management and strategic wealth planning expertise.

According to the release, International Research has provided financial planning for its clients for nearly 30 years. Brett Anderson, who served as CEO and principal of International Research, will assume the role of regional director at EP Wealth. Advisor Michael Stillman and Sheri Nelson, director of client service, also will join the EP Wealth team.

“We have built our business on providing our clients with independent, transparent and unbiased financial advice, and as we looked to the future of our business, it was essential that our partner share this philosophy,” Anderson said in a prepared statement.

Patrick Goshtigian, president and CEO of EP Wealth, said the team has worked to establish a strong presence in Dallas and develop a reputation for executing on their clients’ needs and goals. “That work ethic and dedication to helping clients is what put this partnership in motion, and as a team, we hope to continue to add to the level of trust they’ve built in the region,” he said.

The transaction marks the latest in a period of strategic growth for EP Wealth. Since taking over a minority stake from Wealth Partners Capital Group in July 2017, EP Wealth has completed 10 acquisitions in California, Washington, Colorado, Arizona, Illinois and Texas. Most recently, the firm announced its acquisition of Guidant Wealth Advisors in Palatine, Illinois.

EP Wealth has offices in the San Francisco Bay area, San Diego, West Los Angeles and Irvine, Calif., Seattle, Phoenix, Denver and the Chicago region. The firm manages more than $6.7 billion in AUM as of Dec. 31, 2019.