Allworth Financial Acquires $460M Wealth Management Firm 

Allworth Financial has added a Massachusetts-based advisory firm, which oversees about $460 million in assets under management. 

Needham, MA-based FSA Wealth Management, founded in 2006, includes managing partners Gavin Morrissey and Simon Heslop, and five financial advisors. 

FSA provides financial planning, wealth management, investment management, and estate and tax planning to high-net-worth clients. 

Morrissey and Heslop were previously affiliated with Commonwealth Financial Network until 2017, according to their BrokerCheck profiles. 

As part of the deal, all of FSA’s employees will relocate to Allworth’s existing office in Waltham, Massachusetts, Allworth said. 

“Our team was drawn to Allworth because of their experienced leadership team and the support they provide to advisors,” Morrissey said. “Allworth has the resources in place to take care of the tasks that often pull advisors away from what matters most — taking care of clients. By freeing up our time and providing a deep bench of expertise, Allworth allows us to deliver an even higher level of service.” 

The deal marks Allworth’s second in the state for this year, following its acquisition of Norwood, MA-based RIA Shorepoint Capital Partners, which manages $850 million in assets under management. 

Folsom, CA-based Allworth Financial, founded in 1993, oversees more than $31 billion in total client assets across 43 offices and specializes in investment management, tax planning and preparation, estate planning, and 401(k) management.