EP Wealth Advisors has picked up 22 team members and nearly $1.2 billion in assets under management with the acquisition of Wacker Wealth Partners in San Luis Obispo, California.
Led by former CEO Ryan Caldwell, EP's new regional director for Central California, and former President and COO Bryan Krill, who is stepping into the role of associate regional director, the Wacker team serves 700 families and 27 clients institutions representing a “range of industries.”
“We were in Northern California and Southern California, but we thought it would be nice to have a presence on the Central Coast,” said EP co-founder Brian Parker, noting that he and co-founder Derek Holman went to college. in the area.
“To be honest, there aren't many firms out there, so we feel so lucky to have found the Wacker team,” he added. “One of the initial draws was meeting the team and realizing that they look at the world in a similar way to us – as believers, which we hold dear. If you look at how they were founded and how they serve customers, they are very similar to EP.”
Established in 1988, Wacker Wealth has always been a fee-only firm. Founder Bob Wacker passed away in February, three weeks before his 75th birthday, but he was closely involved in the negotiation process and approved the sale to EP. Access to an expanded menu of service capabilities available through the larger firm was a key motivator.
“Partnering with EP allows us to continue to serve this growing area with the same focus and dedication we've had for decades by providing the support and capabilities – a great team of professionals specializing in planning, investment, technology, compliance and more – of a national RIA,” said Caldwell.
“We look forward to leveraging EP's expanded resources to enhance our service to current and future clients, including tax and estate planning,” added Krill. “Having the capabilities of a firm of this size will give our advisors and staff more tools and support as we continue to grow.”
The agreement is the second announced by the EP in 2024, following PURCHASE of a two-person team in southwestern Utah that manages $188 million for about 200 clients.
It is the 31st since selling a minority stake to Wealth Partners Capital Group in 2017. Celebrating its 24th anniversary this year, EP Wealth manages more than $22 billion for more than 12,500 households and nearly 600 institutional clients.
“I don't think our pipeline has ever been stronger than it is right now,” Parker said, noting that the focus is on getting the right people and geographic considerations are secondary. “We're looking for firms that look at the world the same way we do, which is client first, planning first, trying to add services and be that family office for everyone.”