Allworth Financial has announced its acquisition of FSA Wealth Management, a Needham, Massachusetts-based fiduciary advisory firm overseeing $460 million in assets under management. The transaction marks another step in Allworth’s strategy to expand its upmarket presence in regions where demand for sophisticated, integrated financial planning continues to grow. As part of the transition, FSA’s team will move to Allworth’s existing office in Waltham, Massachusetts.
The acquisition brings six professionals into the organization, including five financial advisors and managing partners Gavin Morrissey and Simon Heslop. Both will continue to work directly with clients while contributing to Allworth’s advisory depth in the region. The move follows Allworth’s recent acquisition of Shorepoint Capital, further accelerating its investment in the Greater Boston market, an area known for its high concentration of affluent households and life sciences-driven economic growth.
Allworth noted that adding FSA strengthens the firm’s ability to serve complex financial needs, particularly in retirement and tax planning. FSA clients will maintain their existing advisor relationships and gain access to Allworth’s broader platform, which includes advanced tax and estate planning support, investment research, and an expanded client experience infrastructure. No structural or leadership changes are planned as part of the integration.
FSA’s leadership emphasized that cultural alignment, a client-first mindset, and expanded advisor support were the primary drivers behind their decision to join Allworth. The firm’s advisors highlighted the benefit of gaining access to deeper operational resources that allow them to focus more closely on client service.
FSA was represented in the transaction by Houlihan Lokey, a global investment bank. Allworth, backed by Lightyear Capital and the Ontario Teachers’ Pension Plan Board, now manages approximately $31 billion in assets across its national platform and has completed more than 40 acquisitions since 2018.
KEY QUOTES:
“Greater Boston continues to be a key market for Allworth, and FSA’s team brings exactly the type of talent and client relationships that strengthen our position there. They’ve built meaningful trust across diverse high net worth client communities that increasingly require the type of comprehensive, complex planning Allworth is uniquely positioned to deliver. FSA’s advisors bring decades of experience, a deep commitment to fiduciary service, and a collaborative mindset that aligns with Allworth’s culture.”
John Bunch, CEO of Allworth Financial
“Our team was drawn to Allworth because of their experienced leadership team and the support they provide to advisors. Allworth has the resources in place to take care of the tasks that often pull advisors away from what matters most—taking care of clients. By freeing up our time and providing a deep bench of expertise, Allworth allows us to deliver an even higher level of service.”
Gavin Morrissey, Managing Partner, FSA Wealth Management
“From the moment I met John, it was clear that Allworth is led by someone who truly understands the RIA industry and the growing complexity advisors face as client expectations rise. We’ve always taken a team based approach to serving clients, and Allworth fosters that same spirit of collaboration. We’re excited to leverage their capabilities and continue enhancing our service model for years to come.”
Simon Heslop, Managing Partner, FSA Wealth Management
