Torrance-based EP Wealth Advisors has purchased Pathlight Investors, expanding its footprint into Phoenix and the greater Arizona market.

Terms of the transaction were not disclosed. The acquisition closed July 8 and will increase EP Wealth’s assets under management by more than $230 million while adding more than 190 clients.

EP Wealth Advisors is a registered investment adviser that specializes in financial planning and investment management services. As of May 31, EP Wealth reported $4.9 billion in assets under management.

This is EP Wealth’s sixth acquisition since taking a minority investment from WPCG, a financial services holding company, in July 2017.

The firm recently acquired Conlon Dart Wealth Management in Seattle, the firm’s second regional expansion since last year’s acquisition of Donnelly Wealth Advisors in San Diego. In 2018, the firm also acquired Rampart Wealth Advisors of Greenwood Village, Colo.; Caves & Associates Inc. of Manhattan Beach; and Millie Capital Management of Walnut Creek.

In an October interview with the Business Journal, EP Wealth President and Chief Executive Patrick Goshtigian said his firm has developed a plan to hit $20 billion of assets under management by 2022 through growth organically or through acquisition.

EP Wealth had identified several possible acquisitions to scale the company in size in Los Angeles, Northern California, Colorado and elsewhere, Goshtigian said.

He said all of the firms EP Wealth wanted to buy have between $100 million and $300 million in assets under management, or higher.

Finance reporter Pat Maio can be reached at [email protected] or (323) 556-8329.