California-based investment firm EP Wealth Advisors has completed its acquisition over Personal Financial Consultants, a fee-only financial management firm based in Lafayette, California.
According to a report from Financial Advisor, the latest acquisition will enable EP Wealth to expand its presence into the San Francisco Bay area. As part of the arrangement, Personal Financial Consultants founder Loren Kayfetz, along with her partner, Jonathan Spectorm, will take the post of vice president and wealth advisor at EP Wealth respectively. To date, the Personal Financial Consultants manages $200 million in client assets.
“We pride ourselves on the ability to support our clients through their life transitions. As the planning landscape evolves and client needs become more complex, I sought a partner who could provide expanded technology offerings and in-house expertise, allowing our team to focus on superior client experience,” shared Kayfetz in a press release.
The latest addition of Personal Financial Consultants marks EP Wealth’s third acquisition for this year, following Conlon Dart Wealth Management in Seattle and Pathlight Investors in Phoenix. In 2018, the investment giant has managed to acquire a total of four other companies, namely Rampart Wealth Advisors, Donnelly Wealth Advisors, Caves & Associates, Inc., and Millie Capital Management.
“EP Wealth remains focused on partnering with firms that share our philosophy and business approach,” said EP Wealth President and CEO Patrick Goshtigian. “Loren built Personal Financial on the belief that financial advice should be customized to effectively meet the needs and goals of each client, which is the same holistic planning approach that drives our team’s work.”
The acquisition was completed on August 19, 2019. Financial and legal terms of the deal have not been disclosed to the public.
“We’re excited to support the Personal Financial team’s growth within EP Wealth and bring expanded resources to their clients,” Goshtigian added.
