Allworth Financial Expands Its Reach in Boston by Acquiring FSA Wealth Management

In a strategic move to fortify its presence in the competitive Boston market, Allworth Financial has announced the acquisition of FSA Wealth Management, a distinguished fiduciary advisory firm based in Needham, Massachusetts. This acquisition marks a significant milestone for Allworth, as it continues to enhance its advisory capabilities in regions where clients increasingly seek sophisticated financial planning solutions.

A Strategic Acquisition

Allworth Financial, known nationally as a full-service Registered Investment Advisor (RIA), has acquired FSA Wealth Management, which manages approximately $460 million in assets. This acquisition aligns with Allworth’s long-term strategy of expanding up-market capabilities, particularly in areas that are rapidly becoming hubs for wealth and life sciences. According to John Bunch, CEO of Allworth Financial, Greater Boston is a crucial market for the firm, and the addition of FSA’s team brings valuable talent and client relationships that will strengthen their foothold in the region.

The transition will see FSA’s team, including six professionals, relocating to Allworth’s existing office in Waltham, MA. Among the new additions are managing partners Gavin Morrissey and Simon Heslop, who are expected to continue serving their valued clients while enhancing Allworth's advisory depth in Boston.

Enhancing Client Services

FSA has built trust across diverse high-net-worth client communities, meeting the demand for comprehensive financial planning services. The firm’s advisors are well-versed in complex retirement and tax planning, an area where Allworth aims to provide even greater support. This merger is anticipated to significantly boost Allworth’s reputation for providing integrated financial planning services, which include investment management, estate planning, and comprehensive tax strategies.

Simon Heslop emphasized the attractiveness of joining Allworth based on the firm’s experienced leadership and the resources they provide, which allow advisors to focus on what truly matters: their clients. With Allworth's robust support infrastructure, advisors will have more time to provide an elevated level of service.

Cultural Synergy and Future Outlook

Importantly, both firms share a client-first approach and a strong cultural alignment, which played a vital role in the decision for FSA’s leadership to join Allworth. Gavin Morrissey noted the collaborative mindset between the firms, underscoring a dedication to a team-based strategy to client service. Allworth continues to prioritize the personal touch in financial advisory, and the integration of FSA enhances this commitment.

For clients of FSA, this acquisition means continuity in service, with no major structural changes anticipated. They will continue to work with their trusted advisors while gaining access to Allworth's comprehensive suite of resources that includes advanced investment research, tax planning, and estate planning support.

Moving Forward

The acquisition of FSA follows Allworth's earlier acquisition of Shorepoint Capital, demonstrating a concerted effort to scale its operations and expand within key growth markets. The firm, founded in 1993 and headquartered in Folsom, CA, now boasts approximately $31 billion in assets under management and administration, with over 40 offices nationwide. Allworth's strategic acquisitions have been central to its growth, and the integration of FSA is expected to further enhance its reputation in the financial advisory landscape.

As Allworth Financial continues to develop its capabilities in Boston, it remains committed to delivering personalized financial guidance tailored to client needs, ensuring they can plan wisely for the future while enjoying life’s many opportunities. The future appears bright for Allworth as it solidifies its presence in one of the nation’s most dynamic financial markets.