Company Details
Founded 30 years ago, Allworth began with a radio show to offer an alternative to the sales-driven advisory model. From this humble start, it has evolved into a dynamic marketing force driving substantial growth. Allworth remains committed to a fee-based model, always prioritizing client needs. This approach, free from self-interest and distractions, ensures that Allworth's success is directly tied to client prosperity, providing individuals with not just financial advice but a lifelong financial ally.
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Acquisition Model
Max Cash: 90%
Max Equity: 35%
Allworth's standard terms are 20-30% retention over a 12-18 month period.
Mandatory Points of Alignment
Partners will centralize all back-office functions. This includes compliance, HR, billing, technology, marketing, trading, and more.
Partners will have total autonomy over their calendars.
Partners will have significant input on staffing compensation, but management of the P&L will rest with the central Allworth team.
Allworth distinguishes itself as a planning-centric financial services firm, and the client experience revolves around evaluating the "7 Personal Decision Points." While Allworth provides advisors with guidelines on the process, the advisor has the flexibility to tailor the client experience accordingly.
While practice management protocols are encouraged, they are not mandatory for partners. Allworth's HR department plays an active role in mapping existing staff within the local partner office to the broader Allworth organization.
Allworth prefers its partners to utilize its central investment platform and supports partners in transitioning to its platform by allowing ample time for this change. However, it also permits partners who prefer to manage some of their portfolio locally, as long as this is done under Allworth's centralized trading and oversight guidelines.
Advisor Value Proposition
Allworth can attract younger talent through its lead generation program. Utilizing their expertise in marketing, Allworth can set appointments on the junior advisor's calendar. This will allow them to build their book and hone in their client facing skills. Additionally, joining of a larger organization comes with the opportunity for staff to potentially expand their career at Allworth. Allworth currently operates a remote workforce and staff members of partner firms will have opportunities through Allworth to accelerate their career if they have a desire to.
Allworth provides a central planning team designed to support the advisor in building out their client experience offered. This central planning team has the ability to conduct advanced planning for clients with more complex financial situations. A new partner advisor is not obligated to adopt the entire financial planning process but must align philosophically with Allworth on how to build and implement financial plans for clients.
Advisors juggling multiple roles will enjoy Allworth's centralization of operations, which will alleviate the burden of wearing numerous hats and allow them to focus solely on servicing existing clients and acquiring new ones. These operational duties that Allworth will centralize encompass billing, trading, marketing, HR, technology, payroll, compliance, and beyond.
Beyond financial planning and portfolio management, Allworth offers tax preparation (for clients with 5M+ this service is included, for those with less than 5M tax preparation is an additive cost), tax planning, retirement planning, qualified plans, estate plans, and risk management services.
Allworth's centralized marketing is what drives the organic growth of the business. In 2021, Allworth generated $1.2 billion in AUM through its internal marketing efforts. They spend $6-7 million annually on their direct marketing efforts. Allworth prides itself on having a repeatable marketing process they are able to implement within partner offices. This drives organic growth opportunities for the lead advisor(s) of that office. The strategy and execution is driven by their EVP of Marketing, Brad Boekestein. Allworth claims that many of their partner advisors see tangible, measurable organic growth within the 12 months after the transition/integration is complete.
Through HR and Practice Management functions, Allworth takes great pride in training younger advisors to give them the tools and skills needed to succeed. This can help add confidence to an office's succession planning challenge where a partner office might have the right G2 advisor(s) in place but those G2 advisors need more time and training before taking on a Lead Advisor role.
AUM Growth
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