Allworth Financial Acquires 2 RIAs, Adding $1.2B in Combined AUM

Allworth Financial has acquired two registered investment advisory firms, adding over $1.2 billion in assets under management. 

Allworth’s first acquisition is Lynnfield, MA-based Sachetta, a wealth management and tax-focused firm that oversees $1.1 billion in total client assets, making it Allworth’s third Boston-area deal for the year. 

Sachetta offers investment management, asset management, financial planning, tax solutions, and estate planning to affluent clients as well as to pension plans, trusts, estates, charitable organizations, and corporations, according to the firm’s Form ADV Part 2A Brochure. 

As part of the acquisition, Sachetta brings about 21 financial professionals, including 13 wealth and tax advisors, and about 630 client households to Allworth, and bolsters the firm’s presence in the Greater Boston area. 

Through the acquisition, Sachetta’s advisors and clients will gain access to Allworth’s investment capabilities, estate planning resources, access to private markets, client services and digital tools, and operational support. 

Allworth’s second acquisition is Bethesda, MD-based RIA Arthur Stein Financial, which oversees about $141 million in client assets across 283 accounts.  

The firm provides wealth management services, including portfolio management and financial planning, for federal employees and retirees and has 76 clients, according to the RIA’s Form ADV updated on March 23. 

The transactions come after Allworth entered a new strategic investment partnership with Integrum Holdings, Lightyear Capital, and Ontario Teachers’ Pension Plan in May.  

Before that transaction, Lightyear and Ontario Teachers’ were Allworth’s majority owners. They acquired their position from private equity firm Parthenon Capital in 2020. 

In January, Allworth acquired Denton, TX–based Grunden Financial Advisory, which manages $500 million in total client assets. 

Folsom, CA-based Allworth Financial, founded in 1993, oversees more than $39 billion in total client assets across 40 offices and specializes in investment management, tax planning and preparation, estate planning, and 401(k) management.