The latest deals and transactions in and around North American wealth management.

EP Wealth, Lehman & DeRafelo
California-based EP Wealth Advisors, has acquired Media, Pennsylvania-based Lehman & DeRafelo Financial Resources.

The acquisition is EP Wealth’s second in the greater Philadelphia area and eighth office on the East Coast. Financial and legal terms weren’t disclosed. The acquisition is expected to add over $1 billion to EP Wealth’s assets under management.

Lehman & DeRafelo’s principals Rich DeRafelo and Ron Lehman will each assume the role of regional director, while Jeff Lehman will become a senior wealth advisor. In total, four advisors and two support staff will join EP Wealth, according to a press release from EP Wealth.

“As EP Wealth grows to a nationwide firm, we continue to enhance our financial, tax, estate and specialized planning capabilities, paired with diverse investment solutions that help clients advance toward their goals,” Patrick Goshtigian, CEO of EP Wealth, said. “The Lehman & DeRafelo team has additional expertise in alternative investment strategies which enhances our client offering and sharpens our competitive edge in the marketplace.”

“This strategic partnership was born from many conversations with EP’s leadership, and it is wonderful to align with a firm whose philosophy so closely matches ours,” added Lehman and DeRafelo, said.

This acquisition marks EP Wealth’s second this year and 28th since taking a minority investment from Wealth Partners Capital Group in July 2017. EP Wealth now has more than 30 offices across 11 states coast-to-coast.

EP Wealth managed more than $16.1 billion in assets as of December 31, 2022. It is headquartered in Torrance, California and backed by Boston’s Berkshire Partners.