Allworth Financial Partners with Stewart and Patten Company, Adds $1 Billion in Assets
Principal-owned and operated for multiple generations, the Lafayette, California, firm is Allworth’s 35th acquisition
Folsom, California, June 3, 2024 – Allworth Financial has acquired Northern California-based Stewart and Patten Company, bringing the firm to 17 California locations and 42 offices nationwide. Berkshire Global Advisors served as exclusive financial advisor to Stewart and Patten Company. Financial terms of the agreement were not disclosed.
Founded in 1965 by Ronald S. Patten and John K. (Jack) Stewart, Stewart and Patten manages over $1 billion in AUM for its clients, including families, trusts, charitable foundations, retirement plans, estates, and corporations. The partnership will bring two partner-advisors and five support team members to Allworth.
“The opportunity to work with a firm that has the same dedication to clients as we have while also offloading operational responsibilities was a major factor in our decision to partner with Allworth,” said Stewart and Patten principal, Robert Gentry. “Additionally, Allworth will provide resources to us to ensure long-term business continuity.”
“We’ve traditionally had to interface with numerous outside CPAs, estate planning attorneys, and even financial planning specialists,” noted Stewart and Patten principal, Lori Sherman. “By partnering with Allworth, we will have access to comprehensive tax, estate planning and financial planning solutions while still working with outside professionals, as needed.”
“We’re honored to partner with a firm with such a rich history,” said Allworth CEO, John Bunch. “Over the past 60 years, Stewart and Patten has built an impressive firm centered around their commitment to placing the well-being of their clients ahead of all else.”
About Allworth Financial
Founded in 1993 in Sacramento, California, with approximately $22 billion in assets under advisement, clients in all 50 states, and with 42 offices nationwide, Allworth is an award-winning, full-service RIA that specializes in investment management, tax planning and preparation, estate planning, and 401(k) management. With its direct and educational approach to advising, Allworth delivers short- and long-term financial guidance to help clients achieve their goals and strategically prepare for retirement. The firm has consistently been recognized throughout the financial services industry, winning multiple Best Places to Work awards1 and being named to annual lists of the fastest growing RIAs2.
1Investment News 2021 Best Place to work Winner. https://allworthpartners.com/2021-best-places-to-work/
22022 RIA Channel – 19th fastest growing RIA. https://www.riachannel.com/top-wealth-managers-growth-in-assets-Allworth-Financial/