Allworth Financial Grows to Over $40 Billion AUM Through Strategic Acquisitions

Allworth Financial Grows to Over $40 Billion AUM

Allworth Financial, a leader in the wealth management sector, has recently made headlines by surpassing an impressive $40 billion in assets under management (AUM). This remarkable milestone has been facilitated by the acquisition of two advisory firms: High Falls Advisors, based in Rochester, New York, and Holistic Financial Partners, located in Indianapolis. These strategic moves reflect Allworth's commitment to expanding its national footprint and enhancing its service offerings by incorporating specialized capabilities tailored to client needs.

The Acquisitions

High Falls Advisors

High Falls Advisors has brought a substantial $665 million AUM to Allworth. This Rochester-based firm is renowned for its integrated tax advisory services, combining wealth management with tax planning to deliver comprehensive financial solutions. The firm boasts a multidisciplinary team of 21 professionals, including 12 advisors with a diverse array of credentials such as CFP®, CPA, JD, and EA designations. This expertise enables High Falls to provide a broad spectrum of services, further enriching Allworth's capabilities in the Rochester market.

Kenneth Burke and Jennifer Vogler, the leaders of High Falls, acquired the firm from its founders in 2020 and have since successfully grown its client base. They have integrated a CPA-led in-house tax practice into their client processes, strengthening the overall advisory model. Under their leadership, High Falls Advisors has also developed unique investment strategies, including two private funds, increasing the collective expertise available within Allworth’s national platform.

Holistic Financial Partners

On the other hand, Holistic Financial Partners adds approximately $282 million AUM and specializes in financial planning for clients going through divorce. This unique focus is critical, as it addresses a niche in the wealth management space that many firms overlook. Led by Jason Llewellyn, who joins Allworth as a Partner Advisor, Holistic Financial Partners brings dedicated resources for divorce financial planning, including asset division, tax implications, post-divorce budgets, and long-term financial strategies. Llewellyn’s position as the current Chair of the Institute of Divorce Financial Analysts underscores the depth of knowledge he brings to the team.

Strategic Growth Direction

The integration of these two firms comes at a pivotal time for Allworth Financial. With a recent influx of strategic investment partnerships, the company has embarked on an ambitious growth trajectory, marking the fourth acquisition this year alone. This pattern not only aims to scale operations but also to enhance the sophistication of the services offered across its various offices nationwide. Allworth’s strategy is deliberate: to create a more comprehensive wealth management firm capable of meeting increasingly complex financial needs.

The firm’s CEO, John Bunch, commented on the acquisitions, highlighting their alignment with Allworth's core values of leadership, distinct capabilities, and a client-centric approach. He noted, “These two firms represent exactly what we look for in partnerships. Their proven leadership teams and distinctive capabilities reinforce the belief that clients deserve a more holistic approach to financial advice.”

Both firms will continue to operate under their established brands while gaining access to Allworth’s expansive resources. Clients will benefit from enhanced investment capabilities, advanced estate planning tools, and collaboration opportunities with Allworth’s network of tax specialists, ensuring they receive comprehensive support.

Looking Ahead

The journey of Allworth Financial is marked by a strong commitment to providing tailored solutions that meet evolving client needs. As they expand their team and resources, the firm aims to create new growth opportunities for its professionals and deliver improved service provisions for clients.

Kenneth Burke expressed excitement about the partnership, emphasizing that Allworth’s platform enhances their ability to serve clients effectively. Jennifer Vogler echoed this sentiment, noting the positive engagement they experienced during their onboarding process, which reinforced Allworth’s commitment to a people-first approach.

Meanwhile, Jason Llewellyn remarked on the standout vision Allworth has for their future, citing an infrastructure poised to support financial professionals in delivering top-tier service during some of life's most challenging financial moments.

As Allworth Financial continues to expand, it remains a notable player in the wealth management industry, focused on offering sophisticated, client-centered financial solutions designed for success in a complex financial landscape.