Calif.-based RIA acquires firm managing $250 million

Addition of Siena Wealth Management firm brings Allworth's AUM to $4.5 billion

Aug 9, 2019 @ 11:18 am

By InvestmentNews

Allworth Financial, the Sacramento, Calif.-based registered investment adviser formerly known as Hanson McClain Advisors, has acquired Siena Wealth Management, a San Jose, Calif.-based firm managing $250 million.

(More:Lightyear's Wealth Enhancement Group acquires $1 billion RIA)

Siena has four employees and a client base of approximately 200 families. The firm is headed by Ron Howard, who will join Allworth.

The Siena acquisition brings Allworth's total assets under management to over $4.5 billion. The firm has added five firms and more than $1.5 billion in acquired assets in the last year and a half.

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