Allworth Financial Adds Two Firms with Combined $621M in Assets

Allworth Financial has added a pair of advisory firms, one in California and the other with offices in Florida and Illinois, with a combined $621 million in assets under management.

Roseville, CA-based Tridea Advisors employs three advisors managing $341 million in assets, while Capital Point Financial Group Ltd, which was founded by John Selzer, Jr, has offices in Glenview, IL, and Sarasota, FL and oversees $280 million in assets under management.

Financial terms of the agreements were not disclosed.

Tridea is the $19 billion Folsom, CA-based Allworth’s 12th partner in the Golden State and brings with it a family of advisors, including partner Steve Eklund, his daughter and equity partner Allison Scoggin, and her husband Wesley Scoggin.

“I am happy to welcome Tridea Advisors and Capital Point Financial Group Ltd to the Allworth family,” said Allworth CEO John Bunch. “We strongly believe that this is just the beginning of what is going to be a record year of growth for our firm.”

In October, Allworth announced that Bunch, a former Edelman Financial Engines executive, would succeed co-CEOs Scott Hanson and Pat McClain.

Hanson and McClain, who launched Allworth as Hanson McClain Advisors in 1993, supervised the company’s expansion into a deal-making juggernaut by the late 2010s. In 2017, Parthenon Capital, a private equity firm, invested in the company.

In 2020, Parthenon sold its controlling interest to private equity firm Lightyear Capital and the Ontario Teachers’ Pension Plan Board.