Allworth Financial, a Folsom, California-based RIA with $35 billion in assets under management, has gotten a new infusion of capital from Integrum Holdings LLC, the firm announced Thursday.
The investment is Allworth's third round since its founding, led by Integrum Holdings and including former investors Lightyear Capital and Ontario Teachers' Pension Plan, the firm said.
Financial terms of the transaction were not disclosed.
Allworth's management team will continue to lead the company, and existing employee and advisor shareholders will have significant ownership of Allworth, the firm said in a statement.
Allworth serves clients in all 50 states through more than 40 offices. It offers integrated financial planning services, including investment management, tax planning and preparation, estate planning, insurance and 401(k) management.
"We are grateful for the partnership Lightyear and Ontario Teachers' have provided over the past five years and are excited to welcome Integrum," John Bunch, Allworth CEO, added in the statement. "With all three investors at the table, we have the right group of thought and capital partners to accelerate our growth and expand our capabilities. From our earliest conversations, our partners are aligned with what makes Allworth work: our people, our culture, and our commitment to clients. We are not looking to change the formula that makes Allworth a premier wealth management firm — we are continuing to invest behind it."
Tagar Olson, founding partner at Integrum, continued in the statement that "Allworth has built something exceptional: a national platform with real scale, a leadership team that operates with discipline and focus, and a culture that puts clients first. We're excited to partner with John and the Allworth team, alongside Lightyear and Ontario Teachers', to accelerate organic growth by investing in the talent, technology, and capabilities that will continue to scale the platform and enable Allworth's advisors to deliver more value to their clients."
Mark Vassallo, managing partner at Lightyear, added: "Working with John and the Allworth team over the past five years on multiple growth initiatives has benefited clients and shareholders alike. We are excited to continue building the business in the next chapter."
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