Allworth adds $506M McDaniel Knutson Financial Partners of Lawrence, Kansas
With its 4th acquisition announcement of 2023, and 28th in five years, fast-growing Allworth Financial defies cooling industry M&A trend, shows no sign of slowing down.
Folsom, CA, April 26, 2023 – With the completion of its 28th
partnership in five years, award-winning Allworth Financial, the 9th
fastest growing RIA in America1
, has announced the purchase of $506M McDaniel Knutson Financial Partners of Lawrence, Kansas. Financial terms of the agreement were not disclosed.
"As a close-knit, client-centric advisory firm, we knew what we wanted from a partner," said McDaniel Knutson President Peter Knutson. "We were very clear that any agreement we entered into would have to both enhance the professional opportunities for our team members and increase the service offerings for our clients, and that is precisely what Allworth Financial delivered."
"To partner with a national firm that emphasizes community service was important to us," said McDaniel Knutson CEO Victoria Bogner. "Allworth cares about their partners, clients, the community, and their associates every bit as much as we do, and so this is a major step forward in the realization of the vision we have long had for McDaniel Knutson."
"The team approach and the dedication to their clients and staff is what most impressed us about the leadership of McDaniel Knutson," said Allworth Co-CEO and Co-founder, Scott Hanson. "These are precisely the kind of professionals we are seeking to help us in our quest to continue to build Allworth, and so my Co-founder, Pat McClain, and myself, are excited to welcome all fourteen team members of McDaniel Knutson to the firm."
About Allworth Financial
With its direct and educational approach to advising, and with thirty-three offices in seventeen states, Allworth Financial manages over $16 billion for its 22,000 clients nationwide. An award-winning, full-service RIA that specializes in investment management, tax planning and preparation, estate planning, and 401(k) management, Allworth delivers short- and long-term financial guidance to help clients achieve their goals and strategically prepare for retirement.
1 RIA Channel, LLC: 2022 Top Wealth Managers By Growth in Assets