Allworth Financial Scoops Up $500M Texas Firm 

Allworth Financial has acquired a six-person wealth management team in Texas, which manages $500 million in assets under management.  

Denton, TX–based Grunden Financial Advisory, which was founded in 2001, has offices in Denton and Addison, and deepens Allworth’s footprint in North Texas, Allworth said. 

Grunden Financial Advisory provides “comprehensive” wealth management, investment management, and financial planning to multigenerational families throughout North Texas. 

The firm includes three partner advisors Ricky Grunden Sr., Dave Ragan, and Susy Thomas, who will continue in their existing roles, Allworth said. 

As part of the acquisition, Grunden Financial clients will gain access to Allworth’s nationwide platform, which provides “enhanced” financial planning resources and tax and estate planning capabilities. 

“After exploring relationships with more than ten different firms, Allworth stood out immediately,” Grunden said. “They genuinely care about our employees and our clients. As a long-term steward of this firm, it was important to choose a partner that shares our responsibility to protect what we’ve built and support its continued growth.” 

Recently, Allworth Financial has added Needham, MA-based FSA Wealth Management, which oversees about $460 million in assets under management.  

Folsom, CA-based Allworth Financial, founded in 1993, oversees more than $34 billion in total client assets across 40 offices and specializes in investment management, tax planning and preparation, estate planning, and 401(k) management. 

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Pictured: Grunden Financial Advisory