Allworth Adds $947M with Deals in Rochester and Indianapolis
Allworth Financial, a Folsom, Calif.-based registered investment advisor, has brought on two firms with a combined $947 million in client assets, pushing the acquisitive RIA to more than $40 billion in assets under management and adding additional tax advisors.
The larger firm is High Falls Advisors, a Rochester, N.Y.-based wealth management and tax advisory firm with $665 million in AUM. The smaller firm is Holistic Financial Partners, an Indianapolis-based RIA with about $282 million in AUM, specializing in financial planning for individuals navigating divorce.
High Falls Advisors is led by Kenneth Burke and Jennifer Vogler, who purchased the firm from its founders in 2020. The firm operates a CPA-led, in-house tax practice integrated into the client planning process and manages two private funds.
Holistic Financial Partners is led by Jason Llewellyn, who joins Allworth as a partner advisor. Llewellyn is the current chair of the Institute of Divorce Financial Analysts.
The acquisitions add 23 professionals to Allworth’s platform, including 13 wealth and tax advisors, according to the announcement. High Falls Advisors brings 21 professionals, including a team of 12 advisors, while Holistic Financial Partners adds dedicated divorce-financial-planning capabilities.
“These two firms represent exactly what we look for in a partnership: proven leadership teams, distinctive capabilities, and a shared belief that clients deserve more than a single-discipline approach to financial advice,” Allworth CEO John Bunch said in a statement.
Bunch became CEO of Allworth in late 2023, succeeding co-founders Scott Hanson and Pat McClain, who stepped down from day-to-day management roles.
Since then, he has doubled the firm’s AUM from about $18 billion and overseen a third capital raise in May, led by Integrum Holdings and including prior majority stakeholders Lightyear Capital and Ontario Teachers’ Pension Plan.
The acquisitions are Allworth’s third and fourth since announcing its latest investment stake. In August, it acquired Sachetta, a Lynnfield, Mass.-based RIA and tax advisory with $1.1 billion in AUM, and Arthur Stein Financial, a Bethesda, Md.-based RIA specializing in financial planning for federal employees and retirees with about $141 million in AUM.
