Calif.-based RIA acquires firm managing $250 million

Calif.-based RIA acquires firm managing $250 million
AUG 09, 2019

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. [Recommended Video: Race is on to boost diversity of the advice business]

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