Ryan Parker, CEO of EP Wealth Advisors, joined Keith Black, Managing Director of RIA Channel, to discuss the asset growth experienced by the advisory firm.
As of March 2024, EP Wealth Advisors managed over $22 billion in assets, up 31% in two years, rising from less than $7 billion in 2019. This growth ranks EP seventh on RIA Channel’s 2024 ranking of Top Wealth Managers by Growth in Assets. While EP has experienced substantial growth in its 25-year history, the majority of the firm is still owned by the founders, management team, and advisors.
Parker notes that financial advisory firms are a complex but not a complicated business. The key is to solely focus on meeting the needs of clients while providing a great working environment for advisors. By maintaining this focus, firms can build a strong and sustainable long-term growth rate.
Organic growth is sustained by serving clients well, while inorganic growth can occur by providing scale and resources to advisors looking for a partnership. Asset growth is likely to continue as long as EP focuses on providing a great experience and a compelling value proposition for both clients and advisors.
The goal is to build one of the nation’s leading fee-only advisory firms. As new advisors join EP Wealth Advisors, the geographic footprint of the firm continues to expand. From its founding in Southern California, EP now has advisors throughout mountain states and the northeast. While advisor fit and entrepreneurial talent is more important than geography, EP would like to continue its expansion into new geographies across the US.
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