Allworth Buys $1.1B New Jersey RIA 

Allworth Financial has acquired George McKelvey Company, a Manasquan, NJ–based practice owned by Robert McKelvey, Robert Giunco Jr. and Richard Looney that manages $1.1 billion in assets under management. The deal is the first in NJ and provides a significant boost to the firm’s presence in the region.  

Financial terms of the agreement were not disclosed. 

McKelvey provides financial planning and investment management services for high-net-worth clients. The firm’s team of nine advisors and eight support staff will join Allworth. 

“The addition of George McKelvey Company represents an important move in our ongoing mission to provide exceptional financial guidance across the nation,” said Allworth CEO, John Bunch. “Their strong presence in New Jersey and their impressive track record perfectly aligns with our growth objectives and commitment to client service.” 

Allworth is a full-service RIA that specializes in investment management, tax planning and preparation, estate planning, and 401(k) management. The firm was founded in 1993 in Sacramento, CA and has approximately $22 billion in assets under advisement, clients in all 50 states and 43 offices nationwide. 

In June, the firm acquired $220 million Northern California-based Del Monte Group. In January, the RIA scooped up 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.