Allworth Financial, a Sacramento, Calif.-based RIA, announced recently that it will purchase Shone Wealth Management of Walnut Creek, Calif.

Shone manages over $340 million in assets under management and serves approximately 300 client households.

“I’ve known Allworth CEOs Scott Hanson and Pat McClain for a long time,” founder Mark Shone said in released comments. “Our clients and staff will all benefit from this partnership, and that made it an easy decision for us.”

Financial details of the transaction were not disclosed.

“We are excited to be partnering with a firm that shares our vision of providing comprehensive financial guidance across the country,” said Allworth CEO and co-founder Scott Hanson in released comments. “It is a terrific fit both culturally and geographically, and we welcome Mark Shone and the Shone Wealth Management team.”

Allworth is growing thanks in part to a recent partnership with New York City-based private equity firm Lightyear Capital, which is providing growth capital, said Hanson.