Torrance, California-based EP Wealth Advisors acquired Atlanta-based RIA CornerCap Investment Counsel as part of its ongoing expansion that it said Tuesday is part of its goal to become a national RIA.
The acquisition, which adds almost $1.1 billion in assets under management (AUM) to EP, is its fourth to be announced in 2024 and its 33rd since 2017.
EP has over 36 offices in 13 states and managed more than $26.2 billion in assets as of July 31, it said. The previous 2024 acquisitions include Sloan Investment Management in Dallas, with $700 million in assets, Wacker Wealth Partners in San Luis Obispo, California, with $1.2 billion in AUM; and Parker Advisory Group in St. George, Utah, with $188 million in AUM.
Wealth Partners Capital Group assisted EP in the transaction.
The acquisition closed on Friday, an EP spokesperson told WSR.
“CornerCap will fully re-brand as EP Wealth Advisors in the coming weeks,” the spokesperson also said, noting all of CornerCap’s advisors and staff will remain with EP and its Atlanta office will be EP’s second office in that city.
“CornerCap will fully re-brand as EP Wealth Advisors in the coming weeks.”
– EP Wealth Advisors spokesperson
More Transactions Likely
“EP Wealth Advisors commits to partnering with firms that share our client-first mission and culture to serve families,” the spokesperson said. “This will be ongoing as we find the right firms with the right talent that share these values.”
“EP Wealth focuses on people when partnering with firms, and CornerCap is a talented group who will be a great addition to our team,” according to Ryan Parker, CEO of EP.
Southeast Hub
“Most importantly, they share our commitment to great client service,” Parker said. “Their values align with ours, and the partnership establishes an important Southeast hub as we continue on our path to becoming a single, nationwide RIA with extensive offerings and resources that allow our advisors across the country to deliver a local, boutique experience for clients who rely on EP.”
CornerCap has been providing wealth management services to clients throughout the Southeast.
More Executive Appointments
CornerCap’s team has been led by CEO Cannon Carr, who will shift to the role of Regional Director, joined by Senior Vice President Richard Bean and Senior Wealth Advisor Tom Quinn, according to a news release.
Jeff Moeller, meanwhile, joins EP as Director, Quantitative Research, and Catharine Sanders joins as Director, Segment Marketing, along with 12 additional CornerCap team members with expertise in advisory, investments, financial planning and client service.
EP is backed by Boston private investment firm Berkshire Partners and marks its 25th anniversary this year.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jberman@wealthsolutionsreport.com.
