EP Wealth Adds $103M RIA in Washington – Financial Advisor IQ

EP Wealth Advisors says it has acquired Sound Financial Planning to expand its presence in Washington state.

Founded in 1982 by William “Bill” Morrissey, Sound Financial Planning specializes in retirement and estate planning for high net worth individuals and families from offices in Mt. Vernon and Friday Harbor, Washington, according to EP Wealth.

Morrissey is joining EP Wealth as senior wealth advisor and partner while Tammy Prouty, Sound Financial’s vice-president, is joining as vice-president and partner, EP Wealth says. They’re also joined by client services specialist Sheryl Jakel, according to the firm.

The acquisition will add more than $103 million in client assets to EP Wealth, the company says.

The companies didn’t disclose the financial terms of the deal, which closed on November 19.

Torrance, California-based EP Wealth, led by co-founders and managing directors Derek Holman and Brian Parker and president and chief executive officer Patrick Goshtigian, oversaw more than $13.3 billion as of the end of September from offices in California, Oregon, Washington, Arizona, Colorado, Utah, Texas and Illinois, the company says.

The addition of Sound Financial Planning is EP Wealth’s 19th deal over the past five years, according to the firm. The company says it plans to grow its staff in 2022.

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