Allworth Financial announces partnership with $300M firm

Allworth Financial announces partnership with $300M firm
The deal brings the growing RIA firm's total acquisitions to 34.
FEB 15, 2024

Allworth Financial has completed another acquisition, bringing its total to date to 34.

The $19 billion AUA nationwide RIA firm welcomes Brennan Asset Management Group to its footprint, a firm based in Redding, California, and managing $300 million in assets. Terms of the transaction were not disclosed.

For Brennan Asset Management Group founder Robert Brennan, the decision to join Allworth comes after decades of building his firm into a regional powerhouse. But he felt that now was the right time to scale back on his operational responsibilities and focus on what he loves most, working with clients to improve their lives.

“After conducting an exhaustive, nationwide search for the ideal fit, we are very excited to be joining forces with the incredible team of professionals that Allworth Financial has assembled,” he said.

For Allworth, which now has 41 offices across the country and clients in all 50 states, adding Brennan is the latest in a recent flurry of acquisitions including two firms with a combined $621 million AUM in January and two with a combined $650 million AUM announced in December.

“I continue to be thrilled with the types of firms that are choosing to join Allworth,” said Allworth CEO John Bunch. “Advisory firms such as Brennan Asset Management Group that are well-run, growing, and good philosophical and cultural fits are what we look for in new partners.”

Latest News

CFP Board doubles down on women's focus with new program
CFP Board doubles down on women's focus with new program

The credential-granting body for planners is launching a multi-year strategy that includes research, industry partnerships, and building out the female talent pipeline.

WPCG, Merit expand with latest multibillion-dollar RIA partnerships
WPCG, Merit expand with latest multibillion-dollar RIA partnerships

WPCG gains a foothold in Kentucky while national RIA Merit makes its Idaho debut.

Bonds rise as cloudy economic path supports case for Fed cuts
Bonds rise as cloudy economic path supports case for Fed cuts

Fed Chair Powell's "slightly less-hawkish tone," downplaying of recession risks while acknowledging elevated uncertainty, helped push down yields on Treasuries.

SEC unveils Marketing Rule guidelines around private investments, performance reporting
SEC unveils Marketing Rule guidelines around private investments, performance reporting

New guidance addresses some areas of ambiguity for investment firms, but they may require a revamp for some materials.

UBS to be 'the biggest loser' in fight for advisors in 2025, recruiting firm predicts
UBS to be 'the biggest loser' in fight for advisors in 2025, recruiting firm predicts

Toward the end of last year, UBS said it was redrawing its pay plan for advisors.

SPONSORED Beyond the all-in-one: Why specialization is key in wealth tech

In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'

SPONSORED Record growth: Interval funds emerge as key players in alternative investments

Blue Vault Alts Summit highlights the role of liquidity-focused funds in reshaping advisor strategies