EP Wealth Advisors snaps up Millie Capital Management - Verdict

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EP Wealth Advisors, an independent registered investment advisor that specialises in client-centric financial planning and investment management services, has acquired Millie Capital Management, for an undisclosed sum.

Established in 1991, Millie Capital Management operates as an independent registered investment advisor and specialises in designing investment plans and managing portfolios for high net worth individuals. It has offices in Reno in Nevada and Walnut Creek in California.

The acquisition will boost EP Wealth’s assets under management by $240m, as well as add 40 new households with average assets of more than $5m to its roster.

Commenting on the deal, EP Wealth Advisors president and CEO Patrick Goshtigian said: “Ross has spent the last 27 years building a dedicated fiduciary-minded financial planning practice and helping his clients achieve financial success. His commitment to offering high quality service complements our approach to doing business.

“Our size and scope can afford Ross greater leverage as he continues to meet these goals. We’re thrilled to partner with a likeminded advisor and work together to promote ongoing client success.”

Millie Capital Management founder Ross Millie said: “In order for me to spend more time with my clients, I need a partner who offers greater leverage and in-house expertise.

“I was most attracted to EP Wealth’s investment philosophy and dedication to achieving consistent returns for its clients. I am excited to offer my clients exposure to this expertise and gain further leverage through EP Wealth’s customised and individualised approach to financial planning.”

Millie will assume the role of senior wealth advisor at EP Wealth.

The latest transaction marks EP Wealth’s third acquisition in Northern California since 2016. It acquired Ballou Plum Wealth Advisors in Lafayette and Private Capital Management Associates in San Mateo in January 2016 and June 2017, respectively.