EP Wealth Advisors | Wealth Management Services - Fee Only Financial Advisors
A successful financial plan is about more than portfolio performance. It’s a pathway that takes you from where you are to where you truly want to be.That’s why the EP Wealth Advisors financial planning process starts with the relationship between you and your financial advisor.
Acquisition enhances EP Wealth’s reach in the Northwest, bolsters financial planning and investment management expertise and adds more than $500M in AUM
TORRANCE, Calif. – May 8, 2019 – EP Wealth Advisors, LLC (“EP Wealth”), a leading independent registered investment adviser that specializes in client-centric financial planning and investment management services, has announced its acquisition of Conlon Dart Wealth Management (“Conlon Dart”) in Seattle. The acquisition expands EP Wealth’s presence in the greater Seattle region.
Conlon Dart is an independent, fee-only wealth management firm founded by Mitch Conlon and Stephen Dart. The firm serves as a financial advocate for its clients, with its practice focused on academically grounded investment management, modern financial planning techniques and consistent client communication to prioritize needs and goals. Conlon and Dart will each assume the role of Regional Director and Partner at EP Wealth. Rick Bryan and Joe Boden will each assume the role of Senior Vice President, Senior Wealth Advisor and Partner at EP Wealth.
“EP Wealth remains committed to growth in 2019, expanding our resources, capabilities and geographic reach. Aligning with the right partners who enhance our client offering is central to that mission,” said Patrick Goshtigian, CFA, President and CEO of EP Wealth. “Conlon Dart and EP Wealth share a commitment to providing clients with holistic, sophisticated planning and superior service. The addition of Mitch, Stephen and the rest of the Conlon Dart team will enable us to provide additional depth and expertise to our clients.”
“Identifying the right professional partner was central to our vision for Conlon Dart and our clients, and we sought to align with a firm that complements our approach and provides an unparalleled depth of services to meet our clients’ needs,” said Conlon.
“We consider EP Wealth to be an ideal fit and true extension of our core business philosophy,” said Dart. “We now have increased our financial planning and investment management capabilities, along with deeper educational resources to support our clients.”
This is EP Wealth’s fifth acquisition since taking a minority investment from Wealth Partners Capital Group (“WPCG”), a financial services holding company, in July 2017. It also marks the firm’s second regional expansion, following last year’s acquisition of Donnelly Wealth Advisors in San Diego. Last year, the firm also acquired Rampart Wealth Advisors of Greenwood Village, Colo., Caves & Associates, Inc. of Manhattan Beach, Calif., and Millie Capital Management of Walnut Creek, Calif.
“As the RIA industry continues to consolidate, EP Wealth’s thoughtful strategy and emphasis on growth stands out as a particularly attractive option for RIA owners looking to join a dynamic, experienced team,” commented Rich Gill, a partner at WPCG.
The acquisition closed May 6, 2019 and will increase EP Wealth’s assets under management by more than $500 million, while adding more than 300 clients. Financial and legal terms of the deal will not be disclosed.
About EP Wealth Advisors
EP Wealth Advisors, LLC (“EP Wealth”) is a fee-only registered investment adviser and financial planning firm based in Torrance, Calif., with additional offices in the San Francisco Bay area, San Diego, West Los Angeles and Irvine, Calif., Seattle and Denver. The firm manages more than $4 billion in AUM as of March 31, 2019, and provides client-centric financial planning and investment management services to individuals and businesses. EP Wealth is led by co-founders and Managing Directors Derek Holman, CFP®, AIF® and Brian Parker, CFP® and President and CEO Patrick Goshtigian, CFA®. For more information, please visit www.epwealth.com.
About Wealth Partners Capital Group
Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which has partnered with EP Wealth Advisors (“EP Wealth”). WPCG assists EP Wealth by identifying and integrating like-minded registered investment advisers who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. The WPCG management team is led by partners John W. Copeland, Rich Gill and Sean Bresnan. For more information, please visit www.wealthpcg.com.
With the new tax law, people are often wondering about the new rules and tax deductions—especially small business owners.
Journalist Maryalene Laponsie of the US News and World Report interviewed me on the subject of taxes for small business owners and quotes me in her article “6 Small Business Tax Deductions.” If you’re a small business owner, I recommend you check it out.
From a big-picture view of your whole portfolio, to a focused look at the individual assets that comprise it, your investment statement offers a wealth of useful information. Here are some things to consider when you’re looking at those numbers.
Investment Statement Overview
The goal of the investment statement is to understand where your investments are and if you’re on track for your goals. This means you may want to read your statements in context with a financial plan.
The first page of your EP Wealth Investment Statement is a topline summary of your current asset allocation and recent factors affecting any change in its value. Pie charts depict, by percentage and dollar value, the breakdown of your portfolio into the major asset classes of equities, fixed income and other, as well as the breakdown into the sectors, such as small-, mid- and large-cap stocks, within those classes. The Components of Change table shows your overall portfolio’s beginning and ending balances for quarter to date, year to date and the previous 12 months. For each period, you’ll be able to see how your contributions, withdrawals and investment gains contributed to the final value.
The next two sections of your statement—Performance Summary and Portfolio Holdings— give you a detailed picture of how specific sectors have performed year to date, and the contributions of the individual assets within those sectors.
What You’ll See In An Investment Statement (And What You Won’t)
Your investment statement spells out the quantities and dollar values of the various assets in your portfolio and how they add up to create your overall asset allocation.
How do the current percentages and values of the various sectors in your portfolio compare to where they stood at the end of the preceding year? The Performance Summary section of your statement shows you. Column by column for each sector, you’ll see:
Value (e.g. 12/31/17) – The balance with which you ended last year
Purchases – How much new money you invested
Sales – How much money you took out through sales of shares
Current Value – What this asset was worth on the statement date
Weight – The percentage of your total portfolio this asset class or sector represents
Net Investment Gain – The change in value of the investment
Income/Expenses – Dividends or other transactions that alter the value
Return – The net of fees percentage change in the asset’s value, before taxes
Portfolio Holdings: Drilling Down to the Details
Lastly, we come to the section of your statement that gives you a deep view into the inner workings of your portfolio. Grouped by asset class, the Portfolio Holdings table provides seven important pieces of data for each individual asset:
Weight – The percentage of your total portfolio this asset represents
Cash Invested – The amount of new money you invested
Cost Basis – Total of new money and asset-generated income reinvested
Value – What this asset was worth on the statement date
Unrealized Gain – A paper profit (or loss) caused by assets that have changed in market value but not yet been sold for cash
Cumulative Income – Total income generated by the asset to date for this period
Current Yield – Annual return due to an asset’s dividends or interest payments, as a percentage of its current value
The Rewards of Knowledge
The better you understand your Investment Statement, the easier it becomes to work with your investment advisor to discuss the performance of your portfolio in light of your goals, current market conditions, and your financial plan. There’s also the satisfaction that comes with being knowledgeable about a topic that is important to your financial well-being and that of your family and everyone who is important to you.
Material contained in the EP Wealth Advisors Investment Statement should serve only as supplemental information to your custodial statements. The pricing enclosed in this report might differ from that denoted by the custodian, for, among other reasons, this report is inclusive of accrued interest and we report trades as of the trade date and not the settlement date. Custodial statements should be viewed as the official statement of your portfolio. Custodial statements must be delivered on a monthly basis. Please verify that you are receiving monthly custodial statements and contact us if you are not.
When talking about the Baby Boomer generation, sometimes the ‘Great Wealth Transfer’ comes up in the conversation. People wonder how wealth management will change as the holders of massive amounts of wealth change.
When talking about finances and investments with my clients, I rely on a fundamental question to help guide the financial planning and investment management process.
If you’re curious what my question is, I shared it with US News and World Report’s Maryalene LaPonsie in her article “The Anatomy of a Good Financial Plan.” I also share with her my observations on budgeting software and the value a financial professional can add.
When it comes to setting up your retirement plans, there are a lot of guidelines that might not apply to your specific situation.
U.S. News and World Report’s Maryalene Laponsie quotes me in her article, “Will You Really Live on Less in Retirement?” where I got to put my input my opinion on this certain stigma of retirement planning. Check out the article, definitely a good read!