Sacramento, California-based Allworth Financial has agreed to acquire Bastoni Financial Services of Folsom, California, which manages $270 million.
The acquisition, terms of which were not disclosed, brings to more than $10 billion the assets under management at Allworth, which was formerly known as Hanson McClain Advisors.
The acquisition marks the firm’s fifth this year.
Having led the division of enforcement since 2021, Grewal's tenure included record penalties against firms for securities-law violations.
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The leading non-profit and donor-advised fund sponsor cited exponential growth in giving, particularly among long-term philanthropic investors.
The latest development will add $5.9B to the Chicago-based powerhouse while extending its reach in Pennsylvania.
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