EP Wealth closed out 2019 with the acquisition of Guidant Wealth Advisors, an RIA with $260 million in assets under management in Palatine, Ill.
Advisor Frank Patzke founded Guidant Wealth Advisors 25 years ago in 1995. With new owners, Patzke and the rest of the 10-member Guidant Wealth team will "assume roles at EP Wealth," the company stated. Patzke is now a senior wealth manager at EP Wealth.
The acquisition of Guidant gives EP Wealth, which is headquartered in Torrance, Calif., a stake in the Chicago area, according to EP.
EP Wealth, which had $5.9 billion in assets under management as of Sept 30, has been buying up RIAs since 2017 with the acquisition of Wealth Partners Capital Group. It continued its buying spree with nine acquisitions in five states: California, Washington, Colorado, Arizona, and Illinois.
In 2019, the independent RIA bought CPIC International in San Francisco, Personal Financial Consultants in Lafayette, Calif., Conlon Dart Wealth Management in Seattle, Pathlight Investors in Phoenix, and lastly, Guidant Wealth Advisors.