Allworth Financial, a Sacramento, Calif.-based RIA, announced it acquired Giordano Wealth Management Group, based in Los Gatos, Calif.
With the acquisition of Giordano Wealth Management Group, Allworth has expanded its regional footprint in the Northern California market to a total of nine offices there.
Bay area native Chris Giordano, a financial advisor with over three decades of experience, founded his practice in 2010. Formerly with LPL Financial, he and his team serve approximately 400 client households and manage over $315 million in assets.
According to Giordano, his firm’s new partnership with Allworth will benefit both companies.
“When it comes to locating the right partner, finding a place you can trust with your life’s work is hard, but I trust the people, platform, and the direction of Allworth,” Giordano said in the news release. “I’m looking forward to bringing additional services and support to my clients and providing opportunities for growth to the members of my staff.”
In released comments, Allworth co-founder and co-CEO Pat McClain attributed his firm’s track record of both organic and inorganic growth to a keen understanding of what advisors wanted, as well as needed in a partner.
“With record-setting M&A activity across the advisory sector, and having formed over a dozen partnerships in just the last three years, we have found our award-winning service model and approach to business strongly resonates with RIAs, hybrid advisors, and independent broker dealer affiliated firms who are seeking to expand their businesses, take on leadership roles within Allworth, and implement succession plans that provide their teams and clients with peace of mind,” he said in the news release.
Founded in 1993, Allworth Financial currently has over $12 billion in assets under management (AUM), with offices located in 17 cities in all 50 states.