Allworth Financial names new CEO

John Bunch’s resume includes stints at Edelman Financial Engines, The Mutual Fund Store, TD Ameritrade and Charles Schwab.

Allworth Financial announced that John Bunch will succeed co-founders Scott Hanson and Pat McClain as the wealth management firm’s chief executive.

Bunch most recently was chief financial services officer at Evelyn Partners, a UK wealth management and professional services firm. Earlier, he served as chief operating officer and executive vice president at Edelman Financial Engines and CEO of The Mutual Fund Store, and held executive positions at TD Ameritrade and Charles Schwab.

Allworth had announced in August that Hanson and McClain were stepping down as co-CEOs, although they will remain with the firm and continue to serve clients. Hanson will be the firm’s vice chairman and McClain will continue to head its mergers and partnerships unit.

“We are absolutely thrilled to have John join us to lead this great company through its next chapters of growth,” Hanson said in a statement. “Both Pat and I have known John for over a decade and there is no one better fit for this role than Bunch.”

Bunch will join Allworth Nov. 6; Hanson and McClain will continue to serve as co-CEOs until then.

“I couldn’t be more excited to join the incredible folks at Allworth as we build one of the nation’s top financial advice firms,” Bunch said in the statement. “The independent advice model is clearly the platform of choice for consumers and Allworth has a phenomenal cadre of advisers and a superior team of associates.”

Allworth Financial manages more than $18 billion for 23,000 clients through 34 offices in 18 states.