Nothing succeeds like success.
As cliché as that might sound, it pretty much describes the business and personal trajectory of financial advisors Jim Dwyer of Ahwatukee and Michael McGinley of Gilbert.
On the personal side, they have been close friends since the 1990s when they were undergrads at Arizona State University.
And for the last seven years, they also have been partners in a Chandler firm they founded called Providus Advisors.
Now they’re hanging a new shingle on their offices at 1490 S. Price Road.
They’ve been acquired by EP Wealth Advisors, a fee-only registered investment adviser and financial planning firm based in Torrance, California that has offices in the California cities of San Francisco, San Diego, Los Angeles and Irvine as well as Seattle, Denver, Dallas and Chicago region, managing more than $7 billion through its client-centric financial planning and investment management services to individuals and businesses.
The two men specialize in investment management and financial planning for high-net-worth individuals and families and retirement plan services for small businesses.
The move helps the two friends, who will hold the titles of partner and vice president with EP Wealth.
Although they have maintained a part-time staff over the years, they needed more time to spend with clients.
“Typically, we shared financial planning and investment management functions of the firm,” McGinley said. “We did divide other tasks.”
Dwyer handled marketing, including the website, and McGinley handled operations, such as compliance matters.
Yet, McGinley said, “As our firm grew, we found running the firm on a day-to-day basis to be more challenging. More importantly, we wanted to offer our clients more attention and greater resources.
“With EP Wealth, we feel we can offer our clients more and personally improve our own quality of life.”
Added Dwyer: “With that added support from such an established firm, we will be able to offer our clients more robust services and an even more personalized experience overall.”
They’ve given up their name – Latin for “provident, prudent, circumspect, cautious” – and replaced it with EP Wealth on their office facade.
But that hasn’t bothered their clients.
“Our clients have been very excited about the transition,” Dwyer said. “Every client moved with us to EP.”
EP Wealth is excited as well.
“We are thrilled to partner with Providus and add their team’s areas of expertise and industry experience to our roster,” said Patrick Goshtigian, CFA, President and CEO of EP Wealth.
“Providus has earned and maintained a loyal client base through a deep commitment to delivering on clients’ financial goals, a philosophy that aligns with the EP Wealth approach,” Goshtigian added, stressing that Providus “has helped its clients achieve and maintain financial independence.”
The acquisition marks the 11th transaction in a period of strategic growth for EP Wealth.
McGinley, a native Arizonan, and Dwyer, a Missouri native who moved here with his family 35 years ago, met at ASU around 1997 when they paired up for a college assignment and have been best friends ever since.
They both are certified financial planners, have bachelor’s degrees in finance and got into wealth management for similar reasons.
“I’ve always been interested with personal finance,” McGinley said. “In modern society, money is a challenging topic for everyone and I get enormous satisfaction out of helping my clients.”
Dwyer said, “I discovered my path in college when taking an options and financial derivatives class. I have been fascinated by the financial markets ever since.”
They also feel they provide an essential service because, as McGinley explained, “Everyone wants to make good decisions in regards to their finances.
“Today’s financial world is very complex,” he continued. “A good wealth advisor should be willing and able to assist you with all aspects of your financial life. Investments are important but a good advisor should help you focus on so much more – helping you build an enjoyable retirement, reducing your taxes and having your affairs in order.”
They also said that complexity likely has become even more challenging as a result of the pandemic.
“I would say many of our clients now place a higher priority on making sure their affairs are in order – in other words, ‘if something happens to me I want to make sure my loved ones are cared for,’” McGinley said.
Dwyer added, “I think people have come to realize in 2020 that things can happen that are completely unexpected so having a plan is more important than ever.”
Information: 1490 S. Price Road, Chandler; 480-704-3024, epwealth.com.