Allworth Financial is an independent investment financial advisory firm that specializes in retirement planning, investment advising, and 401(k) management. With a direct approach to financial planning, Allworth plans to deliver long- and short-term investment panning solutions while offering advice to help clients to achieve their goals and help plan strategically for retirement.
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Allworth Financial Features
| Average Client Balance | Approximately $800,000 |
| Assets Under Management | Over $10 billion |
| Advisor-to-Client Ratio | 1:96 |
| Headquarters | Sacramento, CA |
Allworth Financial Services
Asset management
Allworth provides advisory services on a discretionary basis, which means the advisor buys and sells investments on their client’s behalf. Their focus is on preparing for retirement while also providing other services like estate planning, tax planning and consultation for 401(k) providers.
Financial Planning
Allworth offers different types of financial planning for an additional fee. Service include a retirement planning, trust and estate planning, tax planning and management, cash flow forecasting, divorce planning and insurance/risk management.
Week Newsletter & Workshops
Allworth also puts out a weekly newsletter and popular workshops. The one in 2019 drew almost 10,000 attendees.
How Allworth Financial Invests Your Money
Allworth provides more than 15 models portfolios to choose from when it comes to building client portfolios. They based their portfolios based on the client’s financial situation, goals and risk profile, and by using a combination of low-fee and no-load mutual funds and exchange-traded funds (ETFs).
Allworth Financial Accolades
Allworth has received multiple awards in the industry.
Allworth Financial Fees
Allworth charges different fees for asset managements and financial planning services.
Asses Management Fees
Allworth’s asset management fees vary and are negotiated on a per-case basis. Most asset management services offered under the wrap fee program, so your fee will cover all management, brokerage and custodial charges.
However, if the firm decides to use third-party strategists for your client account, you might have to pay an advisory fee of up to 0.60% higher than it would without the help of the strategists.
Financial Planning Fees
| FINANCIAL PLANNING SERVICE | FIXED FEE |
| Comprehensive Financial Review | $2,500 to $4,000 |
| Comprehensive Planning | $3,450 to $5,000 |
| Comprehensive Planning – Financial Independence | $3,850 to $5,000 |
| Comprehensive Planning – Advanced | $15,000 to $30,000 |
Allworth Financial Limitations
- Allworth provides services in all 50 states, however they only have offices in eight offices: Arizona, California, Colorado, Georgia, Michigan, Ohio, Texas and Washington.
- Does not publish a set fee schedule for their asset management services. You’ll need to meet with an advisor to figure out how much it cost.
- Allworth Financial’s advisors are also registered security and insurance agents, so they may receive commission on the products they recommend to clients.
- They also uses performance-based fees, which can increase the cost of investing or motivate managers to take unnecessary risk.
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Conclusion
Allworth Financial is a good choice if you’re looking for a more hands-off investment strategy. But if you’re not near an Allworth office and want a more face to face financial planning, you’ll have to look elsewhere.
Smartasset is a great alternative if you’re looking for a financial planner. They use an algorithm that will consider your financial profile to match you with experts.
