A Northern California-based agency with about $500 million in belongings underneath administration will be a part of Allworth Monetary in its ninth acquisition this yr, a document annual excessive for the agency.
Ryan Wealth Administration serves about 800 households and has places of work in Yuba Metropolis, Calif. and Spokane, Wash. In accordance with Allworth, the transfer will increase its presence in California and the Pacific Northwest markets.
Three companion advisors and several other assist workers will transfer to Allworth. The workforce was beforehand affiliated with Osaic.
Ryan Wealth Principal Rob Ryan mentioned the deal will present the workforce with “enhanced assets and expertise whereas permitting us to take care of the customized service our shoppers have come to count on.”
RIAs acquired by Allworth sometimes undertake the agency’s model, and offers are sometimes structured with homeowners receiving 20-30% fairness and the remainder in money (about 110 advisors presently personal fairness).
Final yr, John Bunch, an alum of Charles Schwab, TD Ameritrade and Edelman Monetary Engines, succeeded Allworth co-founders Scott Hanson and Pat McClain as a part of a “pure succession plan.” Each stay on the agency in advisory roles.
Allworth has about $26 billion in belongings underneath advisement and 43 places of work nationwide (with shoppers in all 50 states). Final month, the agency acquired CCA LLP, a California-based tax-focused CPA agency that added 25 tax professionals, boosting Allworth’s in-house tax capabilities. The deal shortly adopted Allworth’s acquisition of Metropolis Fiduciary Group, an $839 million Pacific Northwest agency beforehand at Osaic.
Different Allworth offers this yr embody its acquisition of Del Monte Group, a Walnut Creek, Calif.-based RIA with over $220 million in belongings, the Layfayette, Calif.-based $1 billion agency Stewart and Patten Firm, the Redding, Calif.-based Brennan Asset Administration Group and Tridea Advisors, one other California RIA with $341 million in belongings.
In 2020, Allworth offered the agency to personal fairness agency Lightyear Capital and Ontario Academics’ Pension Plan Board, Canada’s largest single-profession pension plan. It was beforehand owned by Parthenon Capital.
