Financial services company Allworth Financial completes the acquisition of Salzinger Sheaff Brock and Sheaff Brock.
Allworth Financial, a national registered investment advisor (RIA) based in Folsom, California, has announced the acquisition of Indianapolis-based firms Salzinger Sheaff Brock and Sheaff Brock Investment Advisors. This deal marks Allworth's 43rd acquisition since 2018 and significantly expands the firm's presence in the Midwest region.
The acquisition adds over $1.5 billion in combined assets under management and administration to Allworth, bringing the firm's total assets under management and administration to more than $30 billion. This growth enables Allworth to serve over 28,000 client households across the United States.
Salzinger Sheaff Brock and Sheaff Brock are renowned for their active investment management and strong relationships with high-net-worth clients. This strategic acquisition enhances Allworth's investment capabilities and strengthens its presence in the Midwest.
In a shift from its previous merger and acquisition strategy, Allworth is now focusing on acquiring larger, more sophisticated firms with high-net-worth clients. This move signifies a maturation in the firm's growth approach, emphasizing quality and client specialization over scale alone.
Clients of Salzinger Sheaff Brock and Sheaff Brock will now have access to Allworth's full-service offerings, which include investment management, tax strategy, estate planning, insurance, and retirement services. Allworth delivers these services through a team-based model aimed at simplifying complex financial needs and helping clients achieve long-term peace of mind.
David Gilreath, managing director of Sheaff Brock, expressed his confidence that this partnership ensures clients will continue receiving the investment expertise they've come to expect while gaining access to Allworth's comprehensive wealth planning resources. Mark Salzinger, co-founder of Salzinger Sheaff Brock, believes the combination of their specialized investment strategies with Allworth's comprehensive wealth management approach will benefit clients for years to come.
Allworth Financial, founded in 1993, is backed by Lightyear Capital and the Ontario Teachers' Pension Plan Board. The financial terms of the transaction were not disclosed.
With this acquisition, Allworth continues to solidify its position as a prominent full-service national RIA with a broadened geographic and service footprint driven by a refined growth strategy. The firm serves clients across all 50 states through more than 40 offices nationwide.
Allworth's CEO, John Bunch, stated that the acquisition represents the next step in their growth as a national destination for clients seeking expert guidance and personalized planning. The partnership between Salzinger Sheaff Brock, Sheaff Brock, and Allworth Financial is expected to bring about mutual growth and success in the years to come.
- This acquisition of Salzinger Sheaff Brock and Sheaff Brock by Allworth Financial has augmented Allworth's asset under management and administration, moving it over $30 billion in total.
- The strategic acquisition of these esteemed firms strengthens Allworth's presence in the Midwest, enhancing its investment capabilities and solidifying its stance as a prominent player in wealth management.
- As a result of this acquisition, clients of Salzinger Sheaff Brock and Sheaff Brock will now have access to Allworth's full-service offerings, including investing, finance, estate planning, insurance, and retirement services, delivered through a team-based model aimed at simplifying complex financial needs.
