Allworth Financial Announces $385 Million Partnership with Novak Financial Planning
Agreement expands Allworth’s footprint from coast-to-coast
Bel Air, MD., September 1, 2021 – Allworth Financial, the 4th fastest growing RIA in America1
, has acquired Novak Financial Planning (NFP) of Bel Air, Maryland.
Founded in 1987 by husband-and-wife team Dan and Carol Novak, NFP specializes in providing comprehensive fiduciary retirement planning and client-focused investment management advice. The Bel Air, Maryland-based firm has grown to over $385 million in assets under management and serves approximately 600 clients.
"With over 60 years of combined experience working as advisors, Dan and Carol Novak are not only terrific professionals with a deep commitment to their clients, the two are the first husband and wife team to join our firm as equity partners, so this agreement represents a milestone for Allworth Financial," said Co-CEO and Co-founder, Scott Hanson. "We now have offices from coast-to-coast and in every region of the country, and we are actively evaluating further expansion in several additional states."
Allworth Financial, with $13 billion in AUM, and clients in all 50 states, was founded in 1993 in Sacramento, California. The firm was again awarded the National Business Research Institute’s Circle of Excellence award for client satisfaction this year (2021), which ranks it among the most-admired brands in America.
"The advisory sector is consolidating and mid-sized RIAs such as Novak Financial Planning that are well-run and client-centric are in high demand," said Allworth Co-CEO and Co-founder, Pat McClain. "The fact that it’s a family-run advisory firm that provides fiduciary investment management made partnering with Dan and Carol an easy decision to make."
"Scott Hanson and Pat McClain laid out a clear and forward-thinking vision for our future, the future of our team, and for our clients," said Carol Novak. "Our clients and staff will all benefit from this partnership, and so that made it an incredibly exciting decision for everyone."
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 $13 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.
1 According to Financial Advisor Magazine (https://www.fa-mag.com/news/fa-s-top-10-fastest-growing-rias-57532.html?section=3&page=8)