EP Wealth Advisors today announced that it has acquired Lehman & DeRafelo Financial Resources, a suburban Philadelphia firm with $1.1 billion in AUM, according to a news release.

Financial terms of the deal were not disclosed.

Based in Media, Pa., the six-member firm is headed by firm principals Rich DeRafelo and Ron Lehman, who will each assume the role of regional director, while Lehman will also serve as senior wealth advisor. The firm offers multifaceted financial planning and investment management services with a focus on wealthy clients, the release said, noting that it also “designed a comprehensive alternative investments strategy that can be paired with EP Wealth’s larger investment approach.”

“We’re excited about the additional resources and capabilities that our firm and clients will now enjoy thanks to joining EP Wealth,” Lehman and DeRafelo said in a joint statement. “This strategic partnership was born from many conversations with EP’s leadership, and it is wonderful to align with a firm whose philosophy so closely matches ours.”

This is the fifth East Coast acquisition for the Torrance, Calif.-based EP Wealth since September and the second this year. It also marks the second in the greater Philadelphia area. Additionally, the partnership is the 28th for EP Wealth since taking a minority investment from Wealth Partners Capital Group in July 2017.

“As EP Wealth grows to a nationwide firm, we continue to enhance our financial, tax, estate and specialized planning capabilities, paired with diverse investment solutions that help clients advance toward their goals,” said EP Wealth CEO Patrick Goshtigian. “The Lehman & DeRafelo team has additional expertise in alternative investment strategies, which enhances our client offering and sharpens our competitive edge in the marketplace. EP Wealth is proud to welcome them to our team.”

Mac Selverian, principal at Wealth Partners Capital Group, said the growth strategy at EP Wealth has been driven by focusing on expanding talent and resources for its client base. “The acquisition of Lehman & DeRafelo, which will enhance EP’s growing presence on the East Coast and add to the overall investment offering, is a prime example of this strategy,” he added.

EP Wealth has more than 30 offices in 11 states. The firm manages more than $16.1 billion in assets as of December 31, 2022.