Sep 28, 2022

Successful Acquisition Stories – Video Transcript

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Text fades in: For financial professional use only.

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Photo of Allworth co-founders Scott Hanson and Pat McClain standing in a large group of Allworth Partners.

Text appears: Successful Acquisition Stories

Sub-text: Allworth Financial is an Investment Advisor registered with the Securities and Exchange Commission.

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New text fades in: Why did you decide to partner with Allworth Financial?

[Dean Baumgartner, co-founder of Blueprint Financial] I have a business partner, and he is going to retire next year. My plan is to continue working for another five or six years.

We’ve been considering, for five years, how we would have the appropriate transition where we would be able to have the greatest amount of certainty as to what the experience would be like for our clients after we’re gone, and that’s a very, very challenging problem to try to solve. We had looked at other independent advisors with our previous broker-dealer, but we had uncertainty about what the future would look like.

Again, we have an obligation to take care of our clients after we’re gone, and we began having conversations with Allworth, or at the time, Scott and Pat, about two-and-a-half years ago.

[John Ohmer, founder of Yellow Brick Road] You know, it’s a cool time to be in the profession because it’s changing, and if you’re going to keep doing what you’re doing today, you will be left behind in the next three to five years. And I’m not talking 10 to 20 years. It’s around the corner. So it’s an opportunity for those who want to be part of what is the path forward. And I like that we, in fact, can be part of that path forward, And Allworth is part of that path forward.

There’s a lot of people in this profession who are just hanging on and who just want to, hopefully, keep up, or just make a transition to their own financial-independence years and to see the business, sort of, stay alive but not thrive. I think those at Allworth just… You know, that’s not the makeup, and so, it’s a pretty cool time to be part of what’s going to be this profession in the next 3 to 5, even 10 years, and what it’s going to be is not what it is today.

[Hugh Phillips, founder of HBP Retirement Group] So, the reason I chose to partner with Allworth Financial is… You know, a real reason is because Pat and Scott asked me. Again, I come from a different perspective, but I’ve known these fellows for almost 30 years. And when you know somebody that well and you still want to partner with them, I mean, what does that say, right?

I mean, these are two guys, and I was not going to be the one, “I wish I would have done it.” Too many great things have happened in our 30-year personal and our 20-year professional relationship, and so far, beyond my expectations. I seriously thought we were going to lose a lot more clients because we’re asking them to change where they’re custodying assets.

We’ve changed offices. We’ve changed the name several times, and yet, it’s amazing that we’ve moved over the assets. I think we’ve moved over close to 98% of the assets from our previous independent broker-dealer.