Allworth Financial acquires Salzinger Sheaff Brock and Sheaff Brock
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Allworth Financial acquires Salzinger Sheaff Brock and Sheaff Brock
Allworth Financial, a US-based investment advisory firm, announced the acquisition of Salzinger Sheaff Brock. The deal, Allworth’s 42nd since 2018, increases its assets under management and administration to over $30bn. Allworth said the deal, enhances its investment capabilities and strengthens its presence in the Midwest region. It is backed by Lightyear Capital and the Ontario Teachers’ Pension Plan Board. The terms of the transaction were not disclosed. The acquired firms manage over $1.5bn in combined assets catering to high-net-worth individuals.
Allworth Financial, a US-based investment advisory firm, announced the acquisition of Salzinger Sheaff Brock and Sheaff Brock Investment Advisors.
Financial terms of the transaction were not disclosed.
The deal, Allworth’s 42nd since 2018, increases its assets under management and administration to over $30bn, serving more than 28,000 client households across the US.
Indianapolis-based firms Salzinger Sheaff Brock and Sheaff Brock manage over $1.5bn in combined assets catering to high-net-worth individuals.
Allworth said the deal enhances its investment capabilities and strengthens its presence in the Midwest region.
Allworth CEO John Bunch added: “This acquisition represents the next step in our growth as a national destination for clients seeking expert guidance and personalised planning.
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“I have known their team for over two decades, and not only are they one of the most impressive firms I’ve had the pleasure to engage with, but they also embody the kind of talent, philosophy, and client-first mindset that aligns with Allworth’s vision and direction.”
Salzinger Sheaff Brock co-founder Mark Salzinger said: “Combining our specialised investment strategies with Allworth’s comprehensive wealth management approach creates a powerful platform that will benefit our clients for years to come.”
Clients of the acquired firms will gain access to Allworth’s services, including investment management, tax strategy, estate planning, insurance, and retirement services.
These are delivered through a team-based approach aimed at simplifying complexities and supporting clients in achieving long-term financial peace of mind.
Sheaff Brock managing director David Gilreath added: “This partnership ensures our clients will continue receiving the investment expertise they’ve come to expect while gaining access to Allworth’s comprehensive wealth planning resources.”
Founded in 1993 and headquartered in Folsom, California, Allworth serves clients across all 50 states through more than 40 offices nationwide.
Allworth is backed by Lightyear Capital and the Ontario Teachers’ Pension Plan Board.
Source: https://www.privatebankerinternational.com/news/allworth-financial-acquires-two-companies/