US-based registered investment adviser (RIA) EP Wealth Advisors has acquired Coulston Financial Service to further expand its growing presence in California’s Bay Area.

The deal, which was concluded on 22 April 2022, increases EP Wealth’s assets under management (AuM) by $75m.

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Financial terms of the transaction were not shared.

Coulston Financial Services offers investment management services for high-net-worth (HNW) clients.

As part of the agreement, Coulston founder Cliff Coulston will join EP Wealth as a senior wealth adviser while Missy Westbrook will assume the role of a consultant.

EP Wealth CEO Patrick Goshtigian said: “The Coulston Financial Services team is regarded for its dedication to client service and fostering a strong client experience, providing its clients with thoughtful investment strategies that align with their financial goals.

“These values are core to EP Wealth as well, and we are excited to integrate Cliff and Missy into our larger team.”

The deal marks EP Wealth’s 23rd transaction in the last five years.

The firm, which secured a minority investment from Wealth Partners Capital Group in July 2017, has expanded its presence in California, Washington, Colorado, Arizona, Illinois, Texas and Utah through acquisitions.

Recently, the firm bought Klein Financial Advisors to further bolster its footprint in southern California to the Newport Beach area.

In January, the firm scooped up Berkeley-based firm Mindful Money, further expanding its reach in the San Francisco Bay Area.

EP Wealth said that it intends to expand its client services and talent and expertise through additional acquisitions throughout 2022 and beyond.