Allworth Financial Secures PE Backing in Third Funding Round

RIA Allworth Financial has received its third funding round, which was led by private equity firm Integrum Holdings and includes former investors Lightyear Capital and Ontario Teachers’ Pension Plan. 

As part of the undisclosed stake, Allworth’s management team will continue to lead the firm, and existing employee and advisor shareholders will maintain significant ownership of the firm. 

“With all three investors at the table, we have the right group of thought and capital partners to accelerate our growth and expand our capabilities” John Bunch, CEO of Allworth Financial, said. “From our earliest conversations, our partners are aligned with what makes Allworth work: our people, our culture, and our commitment to clients.” 

Lightyear Capital and Ontario Teachers’ Pension Plan purchased a majority stake in Allworth Financial from Parthenon Capital in October 2020, which initially invested in Allworth in 2017. 

Lightyear’s newest partnership with Allworth marks its ninth investment in the wealth management and retirement sector since 2010, according to Max Rakhlin, partner at Lightyear. 

Allworth’s latest announcement comes after the RIA partnered with RISR, a fintech platform, to incorporate technology that will allow the RIA’s financial advisors to utilizebusiness-owner planning technology. 

Folsom, CA-based Allworth Financial, founded in 1993, oversees more than $35 billion in total client assets across 40 offices and specializes in investment management, tax planning and preparation, estate planning, and 401(k) management.