US-based independent registered investment adviser (RIA) EP Wealth Advisors has acquired Berkeley-based firm Mindful Money for an undisclosed sum.
The deal further bolsters EP Wealth Advisors’ presence in the San Francisco Bay Area.
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Established in 2001 by Jonathan DeYoe, the acquired entity provides independent financial advice to customers. It specialises in life planning, client education and financial planning.
Mindful Money’s digital financial education programmes, launched in 2021, are available to the public and are complimentary for current wealth management clients.
As part of the deal, DeYoe will join EP Wealth as senior vice president along with his team of three advisors and four support staff.
EP Wealth president and CEO Patrick Goshtigian said: “The Mindful Money team brings years of experience in all aspects of planning for life’s major events to the table, as well as robust marketing and a strong culture.
“When it comes to EP Wealth’s culture, Jonathan’s team is a natural fit. We are excited to partner with them as we continue to expand our presence in California.”
DeYoe added: “My mission is to educate our clients and help them develop a better relationship with money.
“We are thrilled to partner with EP Wealth. As we gain access to expanded services and resources for our clients, this gives us the ability to focus more on our work with them, providing financial education and being involved in their communities.”
The latest deal marks EP Wealth’s 20th transaction in the last five years. Since Wealth Partners Capital Group’s investment in the firm in July 2017, it has partnered with firms in Illinois, Washington, Colorado, California, Arizona, Texas, and Utah.
In 2021, EP Wealth purchased the business of Homewood Capital Management, California-based advisor Abbas Heydari, New Focus Financial Group, Sound Financial Management, and Friday Harbor.
The firm said it will further expand its organisation and capabilities in 2022.
