Allworth acquires California firm managing $283 million

Allworth acquires California firm managing $283 million
RedRock Financial & Insurance Services is based in Chico.
JAN 10, 2023

Allworth Financial announced Tuesday that it has acquired RedRock Financial & Insurance Services, a Chico, California-based firm overseeing $283 million in assets.

RedRock’s partners, Kathleen Carpenter, Diane Knight and Benjamin Knight, will be joining Allworth along with their team.

Allworth is a Folsom, California-based registered investment advisor that advises on $15 billion in assets.

Terms of the transaction were not disclosed.

‘IN the Nasdaq’ with Ryan McCormack, ETF strategist at Invesco

Latest News

Most advisors say AI portfolio construction is worth $500 a month
Most advisors say AI portfolio construction is worth $500 a month

A survey from TacticalMind AI found 69% of advisors say a high-quality AI platform that makes investment recommendations and constructs portfolios is worth $500 monthly, while research-only tools are valued closer to $250.

CAIS embeds Claude AI into advisor workflows for alternatives intelligence
CAIS embeds Claude AI into advisor workflows for alternatives intelligence

The alts tech provider's latest integration lets advisors query fund data and surface portfolio insights without leaving their primary workspace.

FINRA puts structured product supervision under the microscope
FINRA puts structured product supervision under the microscope

The regulator is scrutinizing how some firms oversee concentrated positions in complex "worst-of" notes – and wants answers.

RIA moves: Beacon Pointe tops $4B in New England with latest female-founded partner firm
RIA moves: Beacon Pointe tops $4B in New England with latest female-founded partner firm

Meanwhile, Carson Group fully integrates a decades-old practice in Phoenix, Arizona, and Triad Wealth touts its 5x growth to hit a $2 billion milestone.

Gen Z is cutting spending but retirement savings are still constrained by living costs: BofA
Gen Z is cutting spending but retirement savings are still constrained by living costs: BofA

Matt Gellene shares the bank’s latest research on how young adults are managing their finances.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline