EP Wealth Advisors, a California-based independent registered investment adviser, has acquired local peer Donnelly Wealth Advisors (DWA) for an undisclosed sum.
San Diego-based DWA was established in 1997 by Richard “Rich” Donnelly, who will now become regional director and a partner at EP Wealth.
“Our shared values attracted us to EP Wealth, and we quickly recognised how their in-house expertise could supplement our own to enhance the client experience. Coupled with their additional technology resources and compliance support, we knew this would be a fruitful partnership for our clients,” Donnelly noted.
DWA financial planners Bradley Owen and Adam Werner will also join EP Wealth as part of the deal, with Owen appointed as senior vice president and senior wealth adviser and Werner appointed as vice president and wealth adviser. The pair will also become partners at EP Wealth.
The deal adds over $400m in assets and more than 300 clients to EP Wealth’s portfolio.
EP Wealth president and CEO Patrick Goshtigian said: “DWA is one of the largest and fastest-growing fee-only RIAs in San Diego, and its multi-generational team will provide us with strong organic growth as we continue to enhance EP Wealth’s San Diego presence.
“Their team takes a personalised approach to financial life planning and emphasises the individual client relationship. This philosophy aligns closely with our own goals and what our clients expect when working with us.”
The latest transaction marks EP Wealth’s third acquisition over the past 12 months, the other two being the acquisition of Private Capital Management Associates and Millie Capital Management.