Latest news with #EPWealthAdvisors
Yahoo
30-04-2025
- Business
- Yahoo
EP Wealth expands in California with NBS Financial Services
California's EP Wealth Advisors has strengthened its regional footprint with the purchase of NBS Financial Services. Financial specifics of the deal were not revealed. Westlake Village, California-based NBS Financial Services, established in 1981, offers financial, tax, estate, retirement, education planning, as well as investment management services. The addition of this firm bolsters EP Wealth's existing office located in Westlake Village, California, and contributes over $230m in assets to its books. Geordie Crossan, who has been with NBS since 1986 and serves as its president, will transition to EP Wealth's Westlake Village office along with two other team members. Commenting on the move, Crossan said: 'Joining EP Wealth allows us to strengthen our commitment to helping families achieve their financial goals. 'We look forward to continuing to serve the Westlake Village and Conejo Valley communities under the EP Wealth name.' This acquisition represents EP Wealth's fifth partnership in 2025. EP Wealth CEO Ryan Parker said: 'When identifying new partners, we prioritise firms deeply rooted in their communities. 'With over 40 years of dedicated service in the Conejo Valley, NBS shares our commitment to personalised, high-quality service. We're thrilled to welcome them to the EP Wealth family.' EP Wealth Advisors, a fee-only RIA, has over 50 offices across 17 states. As of 31 March 2025, the firm oversaw more than $32.6bn in assets. The firm is employee-owned and provides a comprehensive range of services, including financial, tax, estate planning, and investment management. "EP Wealth expands in California with NBS Financial Services" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Journals
21-04-2025
- Business
- Business Journals
Greater Cincinnati wealth management firm AlphaMark Advisors acquired by California company
By submitting your information you are agreeing to our Privacy Policy and User Agreement . A 26-year-old Greater Cincinnati wealth management firm has been acquired by a California-based firm that manages $31 billion in assets. Story Highlights EP Wealth Advisors acquired AlphaMark Advisors, expanding into Cincinnati. AlphaMark gains access to EP Wealth's financial services. The deal helps AlphaMark with succession planning and talent acquisition. A 26-year-old Greater Cincinnati wealth management firm has been acquired by a California company. Fort Wright-based AlphaMark Advisors is now part of EP Wealth Advisors, a fast-growing investment advisory firm that's building a national operation. Terms of the deal, completed April 11, were not disclosed. GET TO KNOW YOUR CITY Find Local Events Near You Connect with a community of local professionals. Explore All Events AlphaMark managed $385 million in assets. EP Wealth manages $31 billion. The partnership gives EP Wealth, based in the Los Angeles suburb of Torrance, Calif., its first location in Greater Cincinnati and Ohio. Mike Simon, founder, president and chief investment officer of AlphaMark, said the firm hadn't been looking to sell until recently. 'Over the last five to 10 years, the increased amount of administration, regulations and compliance that took me and my partners away from doing what we enjoy the most – working with clients – was getting bogged down,' Simon told me. He also saw the market for advisory firms heating up, prompting AlphaMark to receive a lot of calls from firms interested in buying it. About a year ago, he decided to look at selling the firm. He contacted a lawyer who put him in touch with investment banking firm Houlihan Lokey, which helped line up candidates to acquire the firm. 'Having run through the other 13 firms we wanted to look at, there was no question EP was the one we wanted to work with,' Simon said. 'We thought we were doing a great job already, but they'll enhance it.' AlphaMark now can access EP Wealth's back-office service but also its financial planning expertise, estate planning, tax planning and more. 'We can compete with the family offices (that serve ultra-wealthy clients) now, with this type of firepower,' Simon said. 'Other firms say they do it, but it's not really part of their DNA. These were things that were part of their firm since they founded it.' EP Wealth now has 49 offices in 17 core markets, EP Wealth CEO Ryan Parker told me. But it doesn't target geographic areas as it finds firms to partner with. 'We say, 'Who are the best people running the best firms that are like-minded entrepreneurs, they want to continue to grow and they would be great additions to our culture?'' Parker told me. 'It really all starts with talent. 'We're not just trying to fill in the map," he said. "The map will still fill in by finding the right people.' expand Ryan Parker is CEO of EP Wealth Advisors. EP Wealth Advisors EP Wealth has been adding firms at a rapid pace. It has already completed four acquisitions – which it calls partnerships based on how it views the people it adds – this year after doing seven last year. More are coming. It has a 'strong pipeline' for the rest of the year, Parker said. AlphaMark's five client-facing employees – three advisers and two client support people – have come over to EP Wealth. Simon is now regional director and partner with EP Wealth. Kelly Owens, who was also a partner with AlphaMark, is also regional director and partner with EP Wealth. AlphaMark remains operating from its office at 810 Wright's Summit Parkway. Simon, 57, said the deal also will help with succession planning. He has no plans to retire anytime soon, but aligning with EP Wealth will create succession for the long term. 'I had to think about it,' Simon said. 'We do need to bring in some younger talent, and this partnership will help us do that.' AlphaMark views itself as a boutique firm with high service levels. 'I'm always happy to hear clients say they just emailed us and we called them back right away,' he said. It focuses on retirement planning, small business services and guiding clients through major transitions such as divorce. Owens launched its Women & Wealth initiative aimed at empowering women to handle financial decisions during major life changes. EP Wealth, which is owned and operated by its employees, offers a full range of services led by financial planning. Those services also include investment management, tax planning and estate planning. Largest Cincinnati Area Money Management Firms Locally managed assets as of 5/1/2024 Rank Prior Rank Business name (Prior rank) 1 1 Fort Washington Investment Advisors Inc. 2 2 Sycamore Capital 3 3 Johnson Investment Counsel View this list
Bloomberg
04-04-2025
- Business
- Bloomberg
S&P Still Has Plenty of Room to Fall If Recession Is Inevitable
The fasetst US stock market selloff since the depths of the Covid pandemic has left valuations looking cheap. But if a recession is inevitable due to the global trade war sparked by President Donald Trump's tariffs, the definition of inexpensive becomes relative. 'What are you doing to me, Trump? We're all navigating in the dark with recession risks rising,' said Adam Phillips, managing director of portfolio strategy at EP Wealth Advisors, whose firm is neutral US equities.
