M and A
Deals Of The Day: The Latest In Wealth Management M&A – Allworth, Grunden
The latest mergers, acquisitions and other corporate actions in the wealth management sector.
Allworth Financial
Allworth
Financial, a Folsom, California-based RIA, has acquired
Grunden Financial Advisory, which is based in Denton, Texas, for
an undisclosed sum. The acquired firm oversees $500 million in
AuM.
As a result of the move Allworth, with offices in Denton and Addison, has deepened its North Texas presence.
Grunden was founded 25 years ago. Its six-person team, including three partner advisors Ricky Grunden, Sr, Dave Ragan, and Susy Thomas, will continue in their existing roles.
Hue Partners, a mergers and acquisition advisory business, advised Grunden on the deal.