Allworth Monetary provides $260m father-daughter RIA agency to fast-growing footprint

Allworth Monetary has made one other acquisition, its fifth thus far in 2023, with the addition of Northeast RIA agency The Harvest Group.

The $260 million agency based mostly in Waltham, Massachusetts is led by father and daughter principals Roger Ingwersen and Laurie Ingwersen and is the 29th partnership for the award-winning Allworth.

The deal additionally marks the sixth feminine fairness associate to affix the agency within the final yr, which Pat McClain, Allworth co-CEO and co-founder, says is necessary given the sturdy positive aspects for wealth managed by girls.

“Within the subsequent six years, investible property of almost $30 trillion are anticipated to be managed completely by girls, so we’re lucky to be including one other extremely skilled feminine partner-advisor to assist information the agency in its quest to higher join with that demographic,” he stated. “We’re enthusiastic about this partnership as a result of we all know that it brings an more and more recent perspective to our management group.”

As managing associate and senior wealth advisor of The Harvest Group, Laurie Ingwersen added that the partnership with Allworth matches with the tradition of the agency.

“As a family-run agency, we needed companions that understood our tradition, and proper from the start everybody at Allworth made it clear that advising is far more than merely a enterprise,” she stated.

Scott Hanson, co-founder and co-CEO at Allworth just lately shared his view on why companies with service fashions which might be caught within the ‘90s may have a troublesome time buying new purchasers.

Commenting on the acquisition of The Harvest Group, he stated that partnering with a agency that’s already offering the instruments required to serve and entice immediately’s purchasers is a typical consideration within the RIA house.

“Profitable, owner-operator advisory companies face this resolution on daily basis, as they’ve hit an inflection level, and should determine if they need to spend money on expertise, advertising and marketing and different operational prices or associate with a bigger agency that’s already made these investments,” he stated.

Quick-growing agency

Allworth Monetary is likely one of the fastest-growing RIA companies in America managing over $18 billion for its 23,000 purchasers nationwide.

Its 34 workplaces in 18 states present funding administration, tax planning and preparation, property planning, and 401(ok) administration, together with short- and long-term monetary steering for retirement planning.

The agency was co-founded by McLain and Hanson in 1993. The duo nonetheless run the agency, which was named amongst Funding Information’ Finest Locations to Work for Monetary Advisors in a number of years.   

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