Allworth Financial Partners with $340 Million RIA Shone Wealth Management
The agreement expands Allworth's footprint in the San Francisco Bay Area
SACRAMENTO, Calif., April 13, 2021 – Allworth Financial, the 4th fastest growing RIA in America1
, has acquired Shone Wealth Management of Walnut Creek, California.
Founded in 2005 by CEO Mark Shone, the firm specializes in comprehensive fiduciary retirement planning and client-focused investment management advice. The team has grown to manage over $340 million in assets under management and serves approximately 300 client households.
"We are excited to be partnering with a firm that shares our vision of providing comprehensive financial guidance across the country,” said Allworth Co-CEO and Co-founder, Scott Hanson. "It is a terrific fit both culturally and geographically, and we welcome Mark Shone and the Shone Wealth Management team."
28-year old Allworth Financial, with nearly $11 billion in AUM, and some 13,000 clients nationwide, recently partnered with New York-based private equity firm, Lightyear Capital, and Ontario Teachers' Pension Plan.
"I’ve known Allworth CEOs Scott Hanson and Pat McClain for a long time. They laid out a clear and forward-thinking vision for my future, the future of my team, and for our clients," said Mark Shone, CEO of Shone Wealth Management. "Our clients and staff will all benefit from this partnership, and that made it an easy decision for us."
About Allworth Financial
With its direct and educational approach to advising, Allworth Financial is a full-service independent investment financial advisory firm that specializes in retirement planning, investment advising, tax planning & preparation, estate planning, and 401(k) management. With $11 billion in AUM, Allworth delivers long and short-term investment planning solutions and guidance to help clients achieve their goals and plan strategically for retirement.