The move into the private markets space, done via the use of curated opportunities with a partner, fits into a wider business trend in the world's wealth management sector.

EP Wealth Advisors, an RIA, has announced a strategic partnership with Opto Investments, a technology-enabled solution that says it expands private markets' access for independent investment advisors.

EP Wealth will use Opto’s custom funds offering. With a comprehensive due diligence process that provides a curated selection of private markets opportunities, custom funds enable EP Wealth to craft bespoke strategies that fit with clients' goals and risk preferences. 

“When introducing private market strategies to client portfolios, a one-size-fits-all approach simply does not work,” Adam Phillips, managing director of investments at EP Wealth Advisors, said. “Opto’s fiduciary-first approach helps us build personalized portfolios that meet the unique needs of our clients, while providing access to institutional-grade investments from a vast array of managers.”

EP Wealth Advisors operates from 36 offices in 13 states and manages more than $26.2 billion in assets as of July 31, 2024. Headquartered in Torrance, California, it is led by CEO Ryan Parker, along with co-founders and managing directors Derek Holman, and Brian Parker, and executive chair Patrick Goshtigian. It is backed by Berkshire Partners, the Boston firm. Opto was founded by Joe Lonsdale, and backed by investors such as 8VC and Michael Dell’s DFO Management.

The partnership comes at a time when private banks, wealth advisors and others serving HNW individuals are being encouraged to put more client money into private markets to diversify and improve returns. In the past, only ultra-wealthy individuals and large institutions could do so. However, platforms such as New York-headquartered iCapital and fellow US business CAIS have developed platforms to widen access, working with a raft of banks and advisors. Another player in this space is Berlin-headquartered  Moonfare. 

Ryan VanGorder, chief executive officer at Opto, added: “We remain hyper-focused on positioning advisors to confidently navigate the intricacies of private markets in a more scalable way.”