Allworth Financial

Office address: 340 Palladio Pkwy, 501, Folsom, CA 95630
Website: allworthfinancial.com
Year established: 1993
Company type: financial services
Employees: 400+
Expertise: retirement planning, investment advising, wealth management, 401(k) management, tax planning, estate planning, insurance services, financial planning, direct indexing, concentrated stock management
Parent company: Lightyear Capital and Ontario Teachers' Pension Plan
Key people: John Bunch (CEO), Pete Engelken (COO), Chris Oddy (CFO), Andy Stout (CIO), Barry Greenberg (chief legal officer), Brad Boekestein (CMO), Corey Gamble (chief compliance officer)
Financing status: private equity-backed

Allworth Financial is a fiduciary registered investment advisor (RIA) with its main office in Folsom. It manages more than $34 billion in client assets as of 2025. The company handles wealth management, retirement planning, 401(k) programs, tax strategies, and more.

History of Allworth Financial

Allworth started in 1993 as Hanson McClain Advisors in Sacramento. Its co-founders, Scott Hanson and Pat McClain, were young advisors who shared one desk and a big idea.

The pair left a large Wall Street-backed firm to build a fee-based fiduciary practice from scratch. It was a risky move because fiduciary companies were still niche and often dismissed at the time.

From one desk to a national brand

The gamble worked as Allworth's client-first model drew investors and like-minded firms across the country. That growth led the company to rebrand from Hanson McClain Advisors to Allworth Financial in 2019.

A year later, Lightyear Capital and the Ontario Teachers' Pension Plan acquired the firm from Parthenon Capital. It also operates Allworth Airline Advisors (formerly RAA), which has served pilots for more than 30 years.

New ground in the Northeast

Allworth Financial's expansion reached the Northeast for the first time in 2025 through an acquisition. It picked up Shorepoint Capital Partners, a Norwood, MA-based RIA with 10 team members and four advisors.

CEO John Bunch said the deal gave the company its first foothold in Boston's high-net-worth market. The move stayed true to a growth-through-partnership model that Allworth has followed since its founding.

Allworth Financial builds on its Texas presence

The company turned to Texas that same year to strengthen its North Texas presence. There, it acquired Grunden Financial Advisory, a six-person wealth management team based in Denton.

Bunch said Grunden's philosophy matched Allworth's approach to building long-term client relationships. The deal continued a pattern of growth that traces back to the firm's earliest days. It seeks to grow through acquisitions while staying true to its original fiduciary model.

Allworth Financial's products and services

Allworth pairs fiduciary guidance with in-house tax, insurance, and estate planning experts under one roof:

Advisory and planning services

• financial planning: full-picture strategies for a client's financial life
• retirement planning: long-term income strategies for retirees
• investment management: custom portfolios matched to individual goals
• tax planning: strategies that lower tax obligations
• estate planning: legacy-focused tactics across generations
• insurance services: policy audits that spot coverage gaps

Investment solutions

• custom portfolios: holdings built around risk and return targets
• direct indexing: personalized index strategies with tax benefits
• separately managed accounts (SMAs): individually managed securities
• tax-loss and tax-gain harvesting: trades timed for tax savings
• concentrated stock management: risk reduction for large stock positions
• ESG and faith-based funds: values-aligned investment options
• alternatives and private equity: access to non-traditional assets
• structured notes and covered calls: income and downside-protection tools

Employer and specialty programs

• 401(k) for employers: plan design and oversight for businesses
• Allworth Airline Advisors: financial planning for pilots and airline staff

Allworth Financial also produces a regular podcast, workshops, and educational resources for its clients. The firm uses AI-powered planning tools and a wrap fee program that bundles management, trading, and custody costs into one charge.

Culture and corporate values

Allworth Financial's approach, called the Allworth Advantage, centers on three principles:

1) complete
2) personalized
3) aligned

The company states that its fiduciary experts are motivated to serve clients, not sell to them. The model connects its services under one roof.

In terms of employee benefits, Allworth Financial gives its staff competitive pay and a benefits package that includes:

• health and dental coverage: Blue Shield, Kaiser, MetLife dental, and VSP vision plans
• savings and retirement: 401(k) with company contributions and healthcare savings accounts
• time off: flexible PTO for exempt staff, 15 days for non-exempt staff, and 11 paid holidays
• flexible work: remote and hybrid arrangements available to employees
• supplemental options: optional benefits and flexible spending accounts
• growth and equity: internal advancement paths and an equity purchase program

Allworth Financial also says it seeks to foster a collaborative space where employees can learn and grow over time. Staff are encouraged to take part in planning, decision-making, and shaping the firm's culture.

About CEO John Bunch and key people

John Bunch is the CEO of Allworth Financial and brings more than 30 years of leadership in financial services. He previously served as chief financial services director at Evelyn Partners, a UK-based wealth management firm. Before that, Bunch was COO and EVP at Edelman Financial Engines.

The rest of Allworth Financial's leadership team helps steer the company's direction:

• Andy Stout is chief investment officer, leading the firm's investment and trading teams nationwide
• Pete Engelken is COO, bringing more than 25 years of leadership in financial services and technology to Allworth Financial
• Chris Oddy is CFO, with past roles at Marsh McLennan and Barclays in the UK
• Barry Greenberg is chief legal officer, a former SEC enforcement attorney and Akin Gump partner
• Brad Boekestein is chief marketing officer, with over 15 years in financial and insurance marketing
• Corey Gamble is chief compliance officer, a role he has held at Allworth since 2013

Allworth's leaders focus on delivering tailored, full-service advice that puts clients first. They do this by trying to hold every business decision to the firm's fiduciary standard.

The future at Allworth Financial

The company built on its Boston presence in late 2025 with another deal. It brought in FSA Wealth Management, a Needham-based RIA with $460 million in assets. The move followed its earlier Shorepoint Capital purchase as Allworth targets affluent clients in greater Boston.

Then in early 2026, Allworth Financial teamed up with RISR, a business-owner planning fintech, to expand its advisor tools. The deal lets Allworth's advisors model business valuations, succession paths, and exits alongside each client's tax and personal goals. These tools help the firm serve a growing wave of business owners who are nearing retirement and weighing ownership transitions.

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