Allworth Monetary, a registered funding advisor based mostly in Folsom, Calif., with practically $25 billion in property below advisement, has acquired CCA LLP, a tax-focused CPA agency in Nice Hill, Calif. With this deal, Allworth provides 25 tax professionals and bolsters its in-house tax capabilities.
This represents Allworth’s eighth acquisition this 12 months and thirty ninth since 2018. The RIA now has 43 workplaces nationwide.
“The demand from our shoppers for complete monetary planning, together with strong in-house tax providers, continues to develop,” Allworth CEO John Bunch mentioned in a press release. “CCA has an distinctive tax staff that may assist us meet that demand and higher serve our shoppers.”
“Allworth’s scale, assets, and breadth of providers will allow us to develop the tax planning and compliance work we’ve offered our shoppers for practically 20 years,” mentioned Gerardo Alvarado, founder and senior associate of CCA, in a press release.
This deal follows Allworth’s acquisition final week of Metropolis Fiduciary Group, a tax planning-focused wealth agency within the Pacific Northwest with $839 million in shopper property. Different acquisitions this 12 months included Del Monte Group, a Walnut Creek, Calif.-based RIA with over $220 million in property; Stewart and Patten Firm, a Lafayette, Calif.-based agency with $1 billion in shopper property; Brennan Asset Administration Group, a Redding, Calif.-based RIA with $300 million in property; Tridea Advisors, one other California RIA with $341 million in property; and Capital Level Monetary Group, a Glenview, Unwell.- and Sarasota, Fla.-based agency with $280 million in property. The RIA accomplished seven offers in 2023.
When Allworth acquires an RIA, the agency usually comes below the Allworth model, and the offers are structured as a mix of money and fairness. Homeowners will get about 20% to 30% in fairness, and the remainder in money. Some 110 advisors at present personal fairness within the agency.
Allworth’s co-founders Scott Hanson and Pat McClain introduced plans final summer time to step down from their roles as co-CEOs of the RIA “as a part of a pure succession plan.” The agency employed Bunch, a former Edelman Monetary Engines govt, who took on the chief govt function late final 12 months.
