Expanding Presence in the Southeast Region

  • EP Wealth Advisors acquires CornerCap Investment Counsel with nearly $1.1 billion in assets under management
  • This is EP Wealth’s fourth acquisition this year and 33rd since 2017
  • CornerCap CEO Cannon Carr will serve as a regional director at EP Wealth
  • EP Wealth aims to become a national brand through acquisitions
  • CornerCap specializes in serving medical spa owners and podcasting

EP Wealth Advisors has acquired CornerCap Investment Counsel, a registered investment advisor with nearly $1.1 billion in assets under management. This is EP Wealth’s fourth acquisition this year and their 33rd since 2017. The deal aims to expand EP Wealth’s presence in the Southeast region of the United States. CornerCap CEO Cannon Carr will serve as a regional director at EP Wealth, while maintaining its local boutique feel. EP Wealth plans to support CornerCap’s specialties, such as serving medical spa owners and podcasting.

Factuality Level: 9
Factuality Justification: The article provides accurate and objective information about the acquisition of CornerCap Investment Counsel by EP Wealth Advisors, including details on the assets under management, the number of acquisitions made by EP Wealth, their growth strategy, and the roles of key individuals involved. It also discusses the benefits for both parties in the deal.
Noise Level: 3
Noise Justification: The article provides relevant information about a business acquisition and the strategic goals of the acquiring company, EP Wealth Advisors. It includes specific details about the acquired firm, CornerCap Investment Counsel, and the benefits for both parties involved in the deal. However, it lacks analysis or exploration of broader trends or consequences, and does not offer significant actionable insights or new knowledge beyond the immediate transaction.
Private Companies: EP Wealth Advisors,CornerCap Investment Counsel,Berkshire Partners
Key People: Ryan Parker (CEO of EP Wealth), Cannon Carr (CEO of CornerCap)

Financial Relevance: Yes
Financial Markets Impacted: The acquisition of CornerCap Investment Counsel by EP Wealth Advisors impacts the wealth management and financial advisory industry.
Financial Rating Justification: The article discusses the acquisition of a registered investment advisor with nearly $1.1 billion in assets under management, which is a significant financial transaction within the wealth management sector.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: No market move size mentioned.
Sector: Finance
Direction: Up
Magnitude: Medium
Affected Instruments: Stocks

Reported publicly: www.barrons.com