Alex Ortolani
5 min read
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Allworth Financial, a registered investment advisor based in Folsom, Calif., with over $30 billion in client assets, has acquired Indianapolis-based sister firms Salzinger Sheaff Brock and Sheaff Brock Investment Advisors.
The two firms manage more than $1.5 billion in combined assets, working with high-net-worth individuals. The investment arm focuses on active investment management, which Allworth noted as an added capability for its advisors. The firm is also expanding its footprint in the Midwest.
“Combining our specialized investment strategies with Allworth’s comprehensive wealth management approach creates a powerful platform that will benefit our clients for years to come,” Mark Salzinger, co-founder of Salzinger Sheaff Brock, said in a statement.
Allworth offers investment management, tax strategy, estate planning, insurance and retirement plan services.
The deal is the RIA’s 42nd since 2018. In 2020, Allworth sold to private equity firm Lightyear Capital and the Ontario Teachers’ Pension Plan Board, Canada’s largest single-profession pension plan. Parthenon Capital previously owned it.
Compound Planning, a New York-based RIA with over $3 billion in client assets, has recruited eight advisors to grow its team to more than 50 advisors.
The additions include a three-person team of owners at Moscow, Idaho-based Northstar Financial Management, who had previously managed $120 million in client assets.
Firm founder Kaitlin Jones, sister Charlotte Jones and Mark Mooring will now be part of the rebranded Northstar Group at Compound Planning, which offers financial planning, portfolio management, tax services, and trust and estate administration.
“When we went looking for the perfect partner for our business, Compound Planning’s integrated tax services immediately stood out,” Kaitlin Jones said in a statement. “To us, tax preparation and planning should always be at the center of what we do, not some separate, disconnected experience.”
Compound also added five advisors who had managed a combined $835 million in client assets.
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Denver-based Michelle Leichtner left Motley Fool Wealth Management to join Compound and has over 20 years of experience across RIAs, investment banks and hedge funds.
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Bethesda, Md.-based Hali London also left Motley Fool Wealth Management and has more than 30 years of experience in financial counseling and planning.
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Des Moines, Iowa-based Jan Shull joins after advising high-net-worth clients at Ameriprise and Edward Jones.
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Phoenix-based James Taylor came from Mercer Advisors, where he worked in insurance and planning for retirees, business owners and federal employees.
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Morrison, Colo.-based Brandon Wyand joined from Vanguard and had prior roles with Personal Capital and Empower Advisory Group.
