Allworth Scoops Up Two Cali-based Advisory Firms with $650M in Assets
Allworth Financial, a $19 billion Folsom, CA-based registered investment advisor, has acquired two CA-based advisory firms with combined client assets of $650 million.
Allworth acquired $375 million San Jose-based Silicon Valley Wealth Advisors and $291 million San Diego-based Hall Private Wealth Advisors.
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.
Allworth has had an active 2023, completing seven partnerships, including $260 million Harvest Group, $506 million McDaniel Knutson Financial Partners and $283 million RedRock Financial & Insurance Services.
Allworth is backed by private equity firm Lightyear Capital and the Ontario Teachers’ Pension Plan Board.
