Allworth Financial, the Sacramento, Calif.-based registered investment adviser formerly known as Hanson McClain Advisors, has acquired Houston Asset Management, a registered investment advisory firm managing $450 million.
The Houston, Texas-based firm, which was founded more than 40 years ago and consists of 13 people, increases Allworth’s assets under management to approximately $8 billion.
The transaction is Allworth’s eighth acquisition since it received a capital injection from private equity firm Parthenon Capital in 2017.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
Also, wealth.com enters Commonwealth's tech stack, while Tifin@work deepens an expanded partnership.
Back office workers and support staff are particularly vulnerable when big broker-dealers lay off staff.
The fintech giant is doubling down on its strategy to reach independent advisors through a newly created leadership role.
The two firms are strengthening their presence in California with advisor teams from RBC and Silicon Valley Bank.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
From direct lending to asset-based finance to commercial real estate debt.
