Allworth Financial, the top-ranked RIA with nearly $25 billion in assets under advisement, is broadening its presence in the Pacific Northwest.
On Tuesday, the firm announced its acquisition of City Fiduciary Group, a wealth management and tax planning shop with offices in Washington and Oregon.
The acquisition, Allworth’s seventh this year, strategically expands the firm's geographic footprint while bolstering its in-house tax service offerings.
“The demand from our clients for comprehensive financial and tax planning continues to grow, and this is an exciting partnership that will help us meet that demand,” said John Bunch, Allworth’s CEO in a statement Tuesday. “City Fiduciary Group’s expertise and deep roots in the Pacific Northwest make this a very exciting partnership for us.”
City Fiduciary Group brings approximately $839 million in assets under management to Allworth, along with a team of 31 professionals specializing in investment advisory and tax planning.
For City Fiduciary managing partner Scott Lowe, whose 21-year record as an investment advisor includes affiliations with Osaic, Cetera, and Edward Jones, the partnership was an opportunity to expand the scope of his firm's impact and founding vision.
“We’ve built our firm on the principle of providing holistic financial guidance,” he said. “Allworth’s approach and culture make them an ideal partner to help us continue that mission on a larger scale.”
Founded in 1993 in Sacramento, California, Allworth serves clients in all 50 states with 43 offices nationwide, specializing in investment management, tax planning, estate planning, and 401(k) management services.
Since 2018, the fast-growing RIA has maintained a robust pace of expansion with 38 acquisition deals and counting. Prior to the City Fiduciary partnership, its 2024 deal calendar has included its June agreement to acquire Stewart and Patten, a firm with over $1 billion in AUM in Northern California and its acquisition of the Del Monte Group, another California firm managing $220 million in assets.
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