A Northern California-based firm with about $500 million in assets under management will join Allworth Financial in its ninth acquisition this year, a record annual high for the firm.
Ryan Wealth Management serves about 800 households and has offices in Yuba City, Calif. and Spokane, Wash. According to Allworth, the move will boost its presence in California and the Pacific Northwest markets.
Three partner advisors and several support staff will move to Allworth. The team was previously affiliated with Osaic.
Ryan Wealth Principal Rob Ryan said the deal will provide the team with “enhanced resources and technology while allowing us to maintain the personalized service our clients have come to expect.”
RIAs acquired by Allworth typically adopt the firm’s brand, and deals are often structured with owners receiving 20-30% equity and the rest in cash; a majority of advisors at the company own equity, according to an Allworth spokesperson.
Last year, John Bunch, an alum of Charles Schwab, TD Ameritrade and Edelman Financial Engines, succeeded Allworth co-founders Scott Hanson and Pat McClain as part of a “natural succession plan.” Both remain at the firm in advisory roles.
Allworth has about $26 billion in assets under advisement and 43 offices nationwide (with clients in all 50 states). Last month, the firm acquired CCA LLP, a California-based tax-focused CPA firm that added 25 tax professionals, boosting Allworth’s in-house tax capabilities. The deal shortly followed Allworth’s acquisition of City Fiduciary Group, an $839 million Pacific Northwest firm previously at Osaic.
Other Allworth deals this year include its acquisition of Del Monte Group, a Walnut Creek, Calif.-based RIA with over $220 million in assets, the Layfayette, Calif.-based $1 billion firm Stewart and Patten Company, the Redding, Calif.-based Brennan Asset Management Group and Tridea Advisors, another California RIA with $341 million in assets.
In 2020, Allworth sold the firm to private equity firm Lightyear Capital and Ontario Teachers’ Pension Plan Board, Canada’s largest single-profession pension plan. It was previously owned by Parthenon Capital.
