Scott Hanson, Co-Founder and Senior Partner, Allworth Financial discusses the firm’s growth during rapidly evolving times, his experience with M&A, and what advisors should consider when succession planning.
In 2018 Hanson McClain Advisors, co-founded by Hanson and Pat McClain, announced a major merger with Cincinnati-based firm, Simply Money Advisors. The two client-centric retirement planning firms came together with the vision of establishing a national brand. After the transaction, the newly merged Hanson McClain managed about $3.3 billion in assets. Today the rebranded firm, now known as Allworth Financial has expanded into more than 17 new markets and manages roughly $9 billion in assets. Most recently, Allworth completed its 9th acquisition in March of 2020. The firm offers advisors a centralized hub of resources, including specialized compliance, technology and marketing teams.
Emphasizing goals-based planning and continuous education, the firm’s direct and honest approach to financial planning continues to resonate with many across the country. In addition to financial / retirement planning, Allworth’s capabilities include accounting, estate planning, 401k for employers, investment management as well as a media arm dedicated to a weekly series of educational podcasts and workshops.
Under Hanson and McClain’s leadership and direction, Allworth has seen explosive growth and shows no signs of slowing down. Hanson and McClain launched Liberty Reverse Mortgage in 2004, which was later acquired by a fortune 500 company, and now is the largest reverse mortgage company in the country. Hanson hosts one of the longest running financial radio shows, Money Matters and has been known as an industry expert for more than 20 years.
Allworth Financial is a comprehensive wealth management firm based in Sacramento, California. The fee-only shop emphasizes education-driven financial planning and serves over 10,000 clients across the United States.
To learn more, register for Allworth’s webcast:The Practical and Financial Implications of Merging Firms: How M&A Could Affect Your Practice Future.
During this thought-provoking webinar, the founders of $9B RIA Allworth Financial, share their view on M&A activity after having completed 9 transactions over the last three years. Scott and Pat will also share how they’ve continued to adapt and grow in a rapidly changing environment. Additionally, hear from three of Allworth’s acquisition partners on how they developed their unique succession plans and what critical advice they’d give to proactive advisors considering either internal or external succession.