EP Wealth Advisor has expanded its presence in the Phoenix market with the acquisition of Providus Advisors LLC, the company announced today.
The acquisition, which closed at the end of July, increased EP Wealth’s assets under management by more than $155 million. Financial and legal terms of the deal were not disclosed.
Founded by Mike McGinley and James Dwyer, Chandler, Ariz.-based Providus has helped its clients achieve and maintain financial independence for the last 15 years, according to a press release announcing the deal. The firm specializes in investment management and financial planning for high-net-worth individuals and families, as well as retirement plan services for small businesses. Both McGinley and Dwyer will serve as vice president and partner at EP Wealth.
McGinley said EP Wealth will provide the strategic investment management and back-office tools his firm needs to continue to grow and flourish. Dwyer added that the extra support from EP Wealth will enable them to offer clients more robust services and an even more personalized experience overall.
Patrick Goshtigian, president and CEO of EP Wealth, said Providus has earned and maintained a loyal client base through a deep commitment to delivering on clients’ financial goals, a philosophy that aligns with the EP Wealth approach.
The acquisition marks the 11th transaction for EP since taking a minority investment from Wealth Partners Capital Group in July 2017. It has completed acquisitions in California, Washington, Colorado, Arizona, Illinois and Texas. In July 2019, EP acquired Pathlight Investors, its first in the Phoenix region.
Torrance, Calif.-based EP Wealth is a fee-only registered investment advisor and financial planning firm that manages more than $7 billion as of June 30. The firm is led by co-founders and managing directors Derek Holman and Brian Parker, and president and CEO Patrick Goshtigian.