Allworth Financial has acquired Grunden Financial Advisory, a Denton, Texas-based wealth management firm with approximately $500 million in assets under management, as the national registered investment advisor continues its expansion across Texas. The transaction adds offices in Denton and Addison and brings a six-person team with multigenerational client relationships and longstanding ties to the North Texas market.
Grunden Financial Advisory was founded 25 years ago and has focused on comprehensive, relationship-driven financial planning for families across generations. As part of the deal, three partner advisors—Ricky Grunden, Sr., Dave Ragan, and Susy Thomas—will remain in their current roles, while the firm gains access to Allworth’s centralized operational infrastructure, including compliance and technology support.
Allworth said the acquisition aligns with its strategy of building a scaled national advisory platform through partnerships with firms that share a long-term, client-first approach. Grunden clients will retain their existing advisory relationships while gaining broader access to Allworth’s platform, including expanded financial planning resources, tax and estate planning capabilities, a wider range of investment solutions, and additional client service and digital tools.
Allworth Financial, founded in 1993 and headquartered in Folsom, California, reported approximately $34 billion in assets under management and administration. The firm said it serves clients nationwide through more than 40 offices and provides integrated services spanning investment management, tax planning and preparation, estate planning, insurance, and 401(k) management. Allworth is backed by Lightyear Capital and the Ontario Teachers’ Pension Plan Board and said it has completed 45 acquisitions since 2018.
Support: Grunden was represented by Hue Partners, an M&A advisory firm.
KEY QUOTES:
“Grunden Financial has built deep, trusted relationships with clients across generations, and their client-first philosophy aligns seamlessly with our culture. This partnership reflects our commitment to thoughtful growth that supports advisors, preserves what makes their firms special, and expands capabilities in ways that ultimately benefit clients. We’re excited to welcome the Grunden team and their clients to Allworth.”
John Bunch, Chief Executive Officer, Allworth Financial
“After exploring relationships with more than ten different firms, Allworth stood out immediately. They genuinely care about our employees and our clients. As a long-term steward of this firm, it was important to choose a partner that shares our responsibility to protect what we’ve built and support its continued growth.”
Ricky Grunden, Sr., Founder, CEO and Partner Advisor, Grunden Financial Advisory
“Our clients trust us with decisions that span generations, which made honoring our relationships and approach essential in this decision. Allworth provides the scale and stability to serve families at every stage without changing who we are or how we work with them.”
Dave Ragan, President and Partner Advisor, Grunden Financial Advisory
“From our first meeting, there was an immediate connection. Allworth brings the resources and innovation of a national firm while preserving the personal, relationship-driven approach that defines who we are. That balance is essential for our team and clients.”
Susy Thomas, Vice President and Partner Advisor, Grunden Financial Advisory
