Allworth Financial, a Folsom, California-based registered investment advisory firm managing almost $13 billion, has acquired Novak Financial Planning, an RIA in Bel Air, Maryland that manages $367 million.
Founded in 1987 by husband-and-wife team Dan and Carol Novak, the firm serves approximately 450 clients.
Terms of the acquisition were not disclosed.
New chief executive Rich Steinmeier replaced Dan Arnold on October 1.
The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.
Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.
New survey finds varied levels of loyalty to advisors by generation.
Busy day for results, key data give markets concerns.
A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.
Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.
