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Financial Advisory  + Latest News  + RIAs & Financial Advisors  |  April 6, 2023
EP Wealth Adds 2nd RIA in Greater Philly Area with Acquisition of $1B Firm
Joe Palmisano
By: Joe Palmisano

EP Wealth Adds 2nd RIA in Greater Philly Area with Acquisition of $1B Firm

EP Wealth Advisors LLC, a $16.1 billion independent registered investment advisor (RIA), is expanding its East Coast presence with the purchase of Lehman & DeRafelo Financial Resources LLC, a Media, PA-based RIA with about $1 billion in client assets.

Financial details of the deal were not made available.

Lehman & DeRafelo offers financial planning and investment management services, including a significant alternative investment strategy that EP Wealth intends to integrate with its other services, with a focus on high-net-worth clients.

Firm 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.

“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,” said Patrick Goshtigian, CFA, CEO of EP Wealth.

The deal marks Torrance, CA-based EP Wealth’s second acquisition in the greater Philadelphia area and its eighth office on the east coast, as well as its 28th deal since taking a minority investment from Wealth Partners Capital Group.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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