Allworth Financial acquires $367 million RIA

Allworth Financial acquires $367 million RIA
A husband-and-wife team runs Novak Financial Planning in Bel Air, Maryland.
SEP 02, 2021

Allworth Financial, a Folsom, California-based registered investment advisory firm managing almost $13 billion, has acquired Novak Financial Planning, an RIA in Bel Air, Maryland that manages $367 million.

Founded in 1987 by husband-and-wife team Dan and Carol Novak, the firm serves approximately 450 clients.

Terms of the acquisition were not disclosed.

Active investment managers must consider ESG when building portfolios today

Latest News

Consumer sentiment continues lower, businesses see uncertain future
Consumer sentiment continues lower, businesses see uncertain future

Two separate readings of American sentiment reflect worrying outlook

Treasuries hold steady ahead of key market events
Treasuries hold steady ahead of key market events

Quarterly refunding, economic data are in focus.

Veteran investor Mobius says he's 'keeping the cash' in funds
Veteran investor Mobius says he's 'keeping the cash' in funds

95% of his funds' holdings are in cash amid trade uncertainty.

Gold-backed ETFs are back in favor
Gold-backed ETFs are back in favor

Report shows trade wars has fueled inflows to funds.

Global AUM at new record high of $128T but industry reform is required, report warns
Global AUM at new record high of $128T but industry reform is required, report warns

Remaining competitive requires reduced vulnerability to external conditions

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.