Torrance, Calif.-based EP Wealth Advisors has acquired Harris Financial Advisors Inc., a Torrance-based firm with more that $490 million in assets under management, according to an announcement today.
The transaction, which closed on November 13, brings more than 390 new clients to EP Wealth’s roster. Financial and legal terms of the deal will not be disclosed.
Founded by Mary Harris, Harris Financial has supported its clients through advanced investment management and financial planning services for more than 28 years, the announcement said. Harris, who will assume the role of senior wealth advisor, will be joined by her team at EP Wealth.
“EP Wealth’s wide-ranging resources and comprehensive expertise in investment and financial management will add value, supporting us as we work toward achieving our clients’ financial goals,” Harris said in a statement.
Patrick Goshtigian, president and CEO of EP Wealth, said Harris Financial is a welcome addition to the EP Wealth team that enables it to increase its presence in the South Bay, Torrance and Palos Verdes Peninsula areas in the greater Los Angeles metro region.
The acquisition marks the 13th transaction in a period of strategic growth for EP Wealth. Since taking a minority investment from Wealth Partners Capital Group in July 2017, EP Wealth has completed acquisitions in California, Washington, Colorado, Arizona, Illinois, Texas and Utah. In October, the firm expanded its presence into Salt Lake City and Logan, Utah, with its acquisition of sister companies The Insight Group and Financial Insight Center.
EP Wealth is a fee-only registered investment advisor and financial planning firm that manages more than $9 billion in assets as of Oct. 31.