Prominent Fee-Only Financial Advisory Firm Expands to Better Serve Clients, Scale and Grow
Los Angeles [January 20, 2016] – EP Wealth Advisors, an independent financial planning and investment management firm based in Southern California that manages approximately $2 billion for clients nationwide, today announced a merger with Ballou Plum Wealth Advisors, a boutique financial advisory practice in the San Francisco Bay area that advises on more than $300 million in client assets. M&A veteran David Selig of Advice Dynamics Partners advised the parties in this transaction.
EP Wealth Advisors has experienced rapid growth since its inception in 2004. With an increase in demand up and down the coast, the firm decided that the time was right for expansion in the San Francisco / East Bay area. This merger is part of a five-year plan of continued growth throughout California.
“Joining forces with Ballou Plum gives EP Wealth a natural extension into a new geographic market,” said Patrick Goshtigian, President of EP Wealth Advisors. “The firm specializes in helping clients develop and maintain sound financial lives through the use of financial planning, investment planning, retirement strategies, estate planning and risk management, making them not only a trusted advisor to their clients but also a perfect fit for EP Wealth’s client-focused culture and fee-only business model.”
Ballou Plum co-founders Lynn Ballou, CFP®, and Marilyn Plum, CFP®, have been involved in the financial planning profession since its infancy. They understood early on the importance of obtaining the CERTIFIED FINANCIAL PLANNER™ professional marks.
“Ballou Plum Wealth Advisors are more than a good partner, they are at the forefront in the shift in financial services and they help us meet the market’s demand for more female advisors—which is part of a culture shift in financial services,” Goshtigian said.
Merger Brought Like-Minded Firms Together
“Today’s savvy consumers are in search of a financial advisor who will listen to their needs and help them achieve their life goals—not just advise on investments,” said Ballou. “EP Wealth Advisors has become known for being more client-centric financial advisors – professionals who help clients achieve their goals in a more comprehensive manner. In assessing the competitive landscape and casting an eye toward the future, we at Ballou Plum felt that this well-established and more comprehensive financial advisory firm would give us the platform we needed to best serve our clients well into the future.”
“Our clients are the foundation of our business,” continued Plum. “We love that EP Wealth Advisors’ goals align with our aspirations, goals and values to create financial success for our clients.”
Structure Benefits Clientele
“The Financial Planning Association announced last year that 75% of financial planners lack even a basic succession plan – which can leave clients with the difficult task of finding a high-quality advisor,” said David Selig, CEO and founder of Advice Dynamics Partners, a full-service mergers and acquisitions consultancy.
“This merger is about peace of mind for Ballou Plum clients and the founders of Ballou Plum themselves. Even though Lynn and Marilyn plan to work for many years to come, EP Wealth Advisors shares a similar client-centric approach and it comes with a built-in, long-term succession plan, so the firm will continue to serve clients in the same quality way,” Selig said.
About EP Wealth Advisors
EP Wealth Advisors is a fee-only registered investment advisory and financial planning firm headquartered in Torrance, California. With additional offices in the San Francisco Bay area, West Los Angeles, Irvine, California and Denver, Colorado, the firm provides client-centric financial planning, wealth management and investment management services to individuals and businesses. EP Wealth was listed among the Top RIA Firms in 2015 by Financial Advisor magazine and in 2016 by Financial Planning magazine (both lists rank firms by discretionary and non-discretionary assets under management as reported on Form ADV, with some other qualitative screens as prescribed by the editorial team). For more information, visit www.epwealth.com.
About Ballou Plum Wealth Advisors
Since 1998, Ballou Plum Wealth Advisors has been the trusted advisor to high-net-worth families, with an emphasis on women. Lynn Ballou, CFP®, is a sought-after thought leader in the financial planning industry and is passionate about educating women on the importance of financial planning. She also serves as the CFP Board of Standards Ambassador for the San Francisco Bay Area, a role in which she educates the public about the importance of financial planning. Marilyn Plum, CFP®, has over 30 years of experience in the financial services industry, primarily in financial planning and client education in the areas of wealth preservation and portfolio management strategies. The firm brings over $300 million in client assets to EP Wealth. For more information, please visit www.ballouplum.com.