Allworth Financial Acquires Two Additional Firms, Adds Over $650M In Client Assets
The agreements mark the 6th and 7th partnerships of 2023 for the fast-growing advisory firm, which now has 37 locations nationwide.
With the completion of two additional California-based partnerships – Allworth Financial, the 9th fastest growing RIA in America1 – has reported the purchase of $376M Silicon Valley Wealth Advisors (SVWA) of San Jose, and nearby Half Moon Bay, and $291M Hall Private Wealth Advisors (HPWA) of San Diego. The two acquisitions add over $650M in new AUA to Allworth Financial. Terms of the agreements were not disclosed.
“As the process and negotiations unfolded, I became increasingly confident that Allworth’s philosophy of looking out for the interests of new partners, their employees, and the well-being of their clients, is completely genuine,” said Hall Private Wealth Advisors Founder and CEO, Russell Hall. “The deciding factor to partner with Allworth over any other firm was that their founders, Scott Hanson and Pat McClain, have established a culture that cares about doing what’s right every bit as much as we have.”
“Not only do I agree with Russell Hall’s assessment of the terrific culture at Allworth Financial,” said Silicon Valley Wealth Advisors Managing Principal, Tracy Lasecke, “but one of the most important things that a larger firm such as Allworth provides is that it allows a firm like ours to get back to doing what we are most passionate about, which is serving our clients instead of running an office.”
“Firms such as SVWA and HPWA that are well-run, growing, and good cultural fits are what we look for in new partners,” said Allworth CEO John Bunch. “The fact that Russell Hall, Tracy Lasecke, and their terrific teams, were seeking to step back from the day-to-day responsibility of managing a business so they could devote more time to improving the lives of clients made the decision to form a partnership with these two outstanding advisors an easy one.”
About Allworth Financial
Founded in 1993 in Sacramento, California, with approximately $19 billion in assets under advisement (AUA), clients in all 50 states, and with 37 offices nationwide, with its direct and educational approach to advising, Allworth is an award-winning, full-service RIA that specializes in investment management, tax planning and preparation, estate planning, and 401(k) management. Allworth delivers short- and long-term financial guidance to help clients achieve their goals and strategically prepare for retirement, and has consistently been recognized throughout the industry, winning multiple Best Places to Work awards2, and named to annual lists of the fastest growing RIAs3.
[1] https://www.riachannel.com/top-wealth-managers-growth-in-assets-Allworth-Financial/
[2] Investment News 2021 Best Place to work Winner. https://allworthpartners.com/2021-best-places-to-work/
[3] 2022 RIA Channel – 9th fastest growing RIA. https://www.riachannel.com/top-wealth-managers-growth-in-assets-Allworth-Financial/