EP Wealth Advisors® Continues East Coast Expansion Through Partnership with Maine-Based Cribstone Capital
TORRANCE, Calif.--(BUSINESS WIRE)--Jan 4, 2023--
EP Wealth Advisors, LLC (“EP Wealth”), a leading independent registered investment adviser (“RIA”) on a mission to provide clients with personalized service through integrated financial planning, investment management and tax and estate planning, has partnered with Cribstone Capital Management, LLC (“Cribstone.”) Cribstone, who has two offices in Maine, is EP Wealth’s third recent East Coast partner and marks the sixth and final acquisition of 2022, having closed December 31.
Cribstone is led by Scott Upham and Jeff Burch, who both now serve as Regional Director/Partner for EP Wealth, along with Amyn Moolji, who becomes a Managing Director on EP Wealth’s Portfolio Strategy team. Three additional team members also join, as Cribstone will take advantage of EP’s resources in planning, tax, estate, portfolio strategy, investment and technology to help set the stage for growth beyond Maine to New Hampshire and Vermont.
“Cribstone has been built on a foundation similar to EP Wealth and is focused on delivering personal, purposeful plans across the client spectrum,” said Patrick Goshtigian, CFA, CEO of EP Wealth. “Scott, Jeff and their team share EP Wealth’s focus on delivering plans for financial health to clients, as well as a platform for growth and development for employees. They are a welcome addition as we continue to expand our geographic footprint while providing exceptional local service.”
EP Wealth has achieved consistent and strategic growth over the last five years, and this acquisition marks its 26 th partnership over that period. Since taking a minority investment from Wealth Partners Capital Group (“WPCG”) in July 2017, EP Wealth has partnered with firms in California, Washington, Colorado, Arizona, Illinois, Texas, Utah, Massachusetts, Pennsylvania and now Maine. The firm continues to experience double-digit, organic growth year-over-year while expanding capabilities and resources through the addition of outstanding talent.
“I have enjoyed a decades-long professional relationship with members of EP’s leadership team, so I was well aware of our shared vision for client experience. Joining together seemed like a natural progression for our firm and a great opportunity for our current and future clients,” said Upham. “The additional depth and breadth of resources and services will allow us to focus on and enhance our client services and broaden our reach in Maine and throughout the region,” added Burch.
The acquisition of Cribstone adds over $357 million in AUM and brings EP Wealth’s total employee base to nearly 330. Financial and legal terms of the deal will not be disclosed.
“The established relationships and shared goals between Cribstone and EP made this a strong and seamless pairing,” said Nick Trepp, Principal at WPCG. “EP’s acquisition of Cribstone strengthens its presence in the Northeast, exemplifying EP’s thoughtful and tactical growth strategy throughout the years.”
About EP Wealth Advisors
EP Wealth Advisors, LLC (“EP Wealth”) is a fee-only registered investment adviser and financial planning firm based in Torrance, California, with additional offices in Los Angeles, Orange County, the San Francisco Bay Area and San Diego, California; Portland, Oregon; Seattle, Puget Sound and Vancouver, Washington; Phoenix, Arizona; Denver, Colorado; Salt Lake City, Logan and St. George, Utah; Dallas, Texas; Chicago, Illinois; Westwood, Massachusetts; and Exton, Pennsylvania. The firm manages more than $15.1 billion in assets as of Dec. 31, 2021, and provides client-centric financial planning and investment management services to individuals and businesses. EP Wealth is led by co-founders and Managing Directors Derek Holman, CFP®, AIF®, and Brian Parker, CFP®, along with CEO Patrick Goshtigian, CFA, and President Ryan Parker. It is backed by Berkshire Partners, a leading private investment firm in Boston. For more information, please visit www.epwealth.com.
About Wealth Partners Capital Group
Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded registered investment advisors and financial advisors who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. For more information, please visit www.wealthpcg.com.
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Gregory FCA for EP Wealth
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE
SOURCE: EP Wealth Advisors, LLC
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PUB: 01/04/2023 11:30 AM/DISC: 01/04/2023 11:32 AM