Allworth Financial Strengthens Boston Presence with Shorepoint Acquisition

Allworth Financial Expands its Boston Footprint through Shorepoint Acquisition

Allworth Financial, a prominent nationwide Registered Investment Advisor (RIA), has recently announced its acquisition of Shorepoint Capital Partners, a financial advisory firm based in Norwood, Massachusetts. This strategic move significantly bolsters Allworth's presence in the Boston market, aligning with its mission to offer comprehensive wealth management services to high-net-worth individuals.

Established in 2009, Shorepoint Capital has amassed approximately $850 million in assets under management. With this acquisition, Allworth integrates Shorepoint's team of ten professionals, including four experienced advisors who bring valuable insight into navigating markets and managing client relationships. Shorepoint's co-founders, Tim Vanech and Luis Raposo, will continue to lead the firm as they contribute to enhancing Allworth’s national advisory framework.

John Bunch, CEO of Allworth, expressed excitement over the acquisition stating, "This marks a significant milestone for Allworth as we establish a strong presence in the Boston area. The expertise and client-first philosophy that Tim, Luis, and their team bring will enhance our culture and push our initiatives further in addressing the needs of HNW and UHNW clients."

Allworth Financial is known for its innovative integration model, which allows Shorepoint advisors to utilize a wide array of superior resources right from day one. These include advanced AI-driven planning tools, a dynamic multi-channel lead generation system, as well as comprehensive compliance assistance. This approach empowers advisors to concentrate on developing strong client relationships, focusing on tailored UHNW solutions, and pursuing their personal and professional growth within Allworth.

Tim Vanech highlighted the synergy between the firms, mentioning that joining forces with Allworth is a natural progression that remains true to the values that Shorepoint was founded upon. Not only does this partnership ensure continuity for both clients and employees, but it also paves the way for growth opportunities and enhanced resource accessibility. Vanech added, "Together, we will deepen our reach in the Boston and Rhode Island areas, benefiting from being part of a national firm aligned with our values."

Shorepoint Capital, known for its fiduciary principles, emphasizes personalized financial strategies utilizing an investment approach that focuses on equities, bonds, and alternative investments. This newly formed partnership is expected to enrich Allworth’s existing alternative investment portfolio for UHNW clients, enabling advisors to offer unique strategies that encourage differentiated results for their clients.

The merger also allows Shorepoint clients access to Allworth’s fully integrated planning services, a dedicated client service team, and the advantages of a larger national platform. Advisors from Shorepoint will now have access to additional resources in compliance, technology, marketing, and professional development support, thereby broadening their capabilities and improving client outcomes.

Following this acquisition, Allworth Financial's total assets under management have now surpassed $31 billion, further asserting its growing influence in the Northeastern financial advisory market. This strategic initiative showcases Allworth's continuous commitment to expanding in vital regional markets while delivering the personalized and boutique client experience that has come to define the Allworth brand.

Shorepoint was advised by Emily Blue and Ryan Halls from Hue Partners, an advisory firm dedicated to enhancing financial advisory services across Massachusetts. For financial advisors or firms interested in exploring partnership opportunities with Allworth, further details can be found on their official webpage: AllworthFinancial.com/partnerwithus.

To summarize, Allworth’s acquisition of Shorepoint marks a notable chapter in their ongoing journey, emphasizing their dedication to providing robust financial planning and advisory services tailored to the evolving needs of its clientele. This partnership is poised to further enrich their offerings and solidify their stance as a powerhouse in the wealth management space, enhancing both client satisfaction and advisor success.