Folsom, California-based RIA Allworth Financial said Tuesday that it acquired Indianapolis-based sister firms Salzinger Sheaff Brock and Sheaff Brock Investment Advisors, which manage over $1.5 billion in combined client assets.
The firms provide active investment management for high net worth clients. This acquisition expands Allworth’s investment capabilities, it said.
The transaction represents Allworth’s 42nd acquisition since 2018 and boosts the firm’s assets under management (AUM) and assets under administration (AUA) to more than $30 billion, it said.
“This acquisition represents the next step in our growth as a national destination for clients seeking expert guidance and personalized planning,” said Allworth CEO John Bunch.
“I’ve 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.”
Clients of the sister firms will have access to Allworth’s investment management, tax strategy, estate planning, insurance and retirement services.
“Combining our specialized investment strategies with Allworth’s comprehensive wealth management approach creates a powerful platform that will benefit our clients for years to come,” said Mark Salzinger, Co-Founder of Salzinger Sheaff Brock.
David Gilreath, Managing Director at Sheaff Brock, said, “This partnership is part of Allworth’s broader strategy to build a scaled, multi-generational firm that meets the complex needs of today’s high-net-worth investors. By integrating specialized talent, expanding geographic reach, and investing in deep planning capabilities, Allworth is positioning itself as a destination for both clients and advisors seeking a more sophisticated, comprehensive, and personalized wealth management experience.”
Allworth, which is backed by Lightyear Capital and the Ontario Teachers’ Pension Plan Board, was founded in 1993 and collectively serves more than 28,000 client households in all 50 states through over 40 offices, it said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
