Allworth Financial Announces the Acquisition of Pathways Financial Partners of Tucson, Arizona
SACRAMENTO, Calif., October 27, 2020- Allworth Financial (“Allworth”) has entered into a definitive agreement to acquire Pathways Financial Partners (“Pathways”) of Tucson, Arizona. With roughly $158 million in assets under management, Pathways becomes Allworth’s third partnership in the Southwest United States and increases Allworth’s total assets under management to over $9.5 billion. The transaction is expected to close prior to the end of the year.
“Acquisition interest has really picked up in the advisory sector,” said Scott Hanson, co-CEO of Allworth Financial. “With Pathways, we are entering into a partnership with a firm that has a great reputation and a long, rich history of serving the community of Tucson.”
“We are thrilled to be joining the Allworth team,” said Pathways Financial Partners’ president and founder, Brian Murphy. “Allworth’s model of providing straightforward fiduciary investment management and retirement planning advice appealed to us right from the start. We’re proud to be a part of what’s truly an exciting time for our firm and our industry.”
The deal represents Allworth’s 4th acquisition this year, and 11th overall since the Sacramento-based firm partnered with Boston-based Parthenon Capital back in 2017.
“With the addition of Pathways, we’re one step closer to fulfilling on our mission to build a national firm that is a respected leader in the marketplace,” said Allworth Co-CEO Pat McClain. “Arizona is a market that we’ve wanted to be in for quite some time and we’re extremely pleased that we were able to find such a great firm to partner with there.”
About Allworth Financial
Allworth Financial (www.AllworthFinancial.com) is an independent investment financial advisory firm that specializes in retirement planning, investment advising, and 401(k) management with a direct approach to financial planning. Allworth Financial delivers long- and short-term investment planning solutions and advice to help clients achieve their goals and plan strategically for retirement. In 2019, Allworth Financial was awarded the National Business Research Institute’s Circle of Excellence award for customer satisfaction.
About Pathways Financial Partners
Pathways Financial Partners specializes in investing and retirement planning for individuals and families, and works with businesses that sponsor 401(k) plans, in the Southwest United States.