Sep 2, 2021

Allworth Financial Announces Partnership with Novak Financial Planning

Agreement expands Allworth’s footprint from coast-to-coast

Folsom, California, September 1st, 2021 – Allworth Financial, the 4th fastest growing RIA in America[1], has acquired Novak Financial Planning (NFP) of Bel Air, Maryland.

Founded in 1987 by husband-and-wife team Dan and Carol Novak, NFP specializes in providing comprehensive fiduciary retirement planning and client-focused investment management advice. The Bel Air, Maryland-based firm has grown to over $365 million in assets under management and serves approximately 450 advisory clients.     

“With over 60 years of combined experience working as advisors, Dan and Carol Novak are not only terrific professionals with a deep commitment to their clients, but they are also the first husband and wife team to join our firm as equity partners, which represents a milestone for Allworth Financial,” said Co-CEO and Co-founder, Scott Hanson. “We now have offices from coast-to-coast and in every region of the country and are actively exploring expansion in several additional states.”

Said Carol Novak, “We found ourselves at a crossroads and realized we needed a deeper bench sooner than the time it would take to hire and train additional advisory staff.” Dan Novak added, “We are looking forward to becoming a member of the Allworth team to enhance our client and employee experience while gaining a better work/life balance knowing our clients will be cared for.”

“RIAs such as Novak Financial Planning that are well-run and have loyal clients are hard to find,” said Allworth Co-CEO and Co-founder, Pat McClain. “The fact that it’s a family-run advisory firm providing fiduciary investment management made partnering with Dan and Carol an easy decision to make.”   

Allworth Financial, with nearly $13 billion in AUM, and clients in all 50 states, was founded in 1993 in Sacramento, California. The firm was again awarded the National Business Research Institute’s Circle of Excellence award for client satisfaction this year (2021), which ranks it among the most-admired wealth management brands in America. 

Carol Novak, CFP®®, MBA, Co-Founder,
Novak Financial Planning
Dan Novak, CFP®, Co-Founder,
Novak Financial Planning

About Allworth Financial

With its direct and educational approach to advising, Allworth Financial is a full-service independent investment financial advisory firm that specializes in retirement planning, investment advising, tax planning & preparation, estate planning, and 401(k) management. With $13 billion in AUM, Allworth delivers long and short-term investment planning solutions and guidance to help clients achieve their goals and plan strategically for retirement

[1] According to Financial Advisor Magazine (