Allworth Financial has added two advisory firms, one in California and the other with offices in Illinois and Florida, that have a combined $621 million in assets under management, the RIA announced Wednesday.
Roseville, California-based Tridea Advisors has three advisors overseeing $341 million in client assets: its founder, Steve Eklund, who will be a partner and advisor at Allworth; Eklund’s daughter, Allison Scoggin, who will be an equity partner and advisor; and Allison’s husband, Wesley Scoggin, who will be an advisor. Two staffers at the firm will also join Allworth.
“We’ve followed Allworth Financial closely since its inception over 30 years ago,” Eklund said in a statement. “By joining forces now, we can benefit from Allworth’s infrastructure which will enable us to continue to prioritize our clients’ needs while letting go of many of the day-to-day operational responsibilities that running a thriving advisory practice requires.”
At Capital Point Financial Group, which has offices in Glenview, Illinois, and Sarasota, Florida, founder John M Selzer Jr. oversees $280 million in assets with the assistance of two staffers.
“To continue to grow and add additional services, we sought out a partner that has an established culture of caring about clients every bit as much as we do,” Selzer said in the statement.
Terms of the transactions were not disclosed.
Folsom, California-based Allworth now has roughly $19 billion of assets under management; its 120 advisors operate out of 40 offices spread over 20 states.
"Im glad to see that from a regulatory perspective, we're going to get the ability to show we're responsible [...] we'll have a little bit more freedom to innovate," Farther co-founder Brad Genser told InvestmentNews.
Former advisor Isaiah Williams allegedly used the stolen funds from ex-Dolphins defensive safety Reshad Jones for numerous personal expenses, according to police and court records.
Taking a systematic approach to three key practice areas can help advisors gain confidence, get back time, and increase their opportunities.
Meanwhile, Osaic lures a high-net-worth advisor from Commonwealth in the Pacific Northwest.
The deals, which include its first stake in Ohio, push the national women-led firm up to $47 billion in assets.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
