California co. acquires Houston investment advisory firm, reaches $8B in assets under management

A fast-growing firm in Sacramento, California, has completed its eighth acquisition, a Houston-based investment advisory firm with $450 million in assets.

The merger brings Sacramento-based Allworth Financial to $8 billion in assets under management and adds the 13 employees of Houston Asset Management to the Allworth team.

Allworth Co-CEO Scott Hanson declined to disclose the value of the transaction.

“We are excited to join the Allworth team, a company we are aligned with on every level,”…