Parthenon Capital puts $8bn Allworth up for sale: Sources
August 13, 2020
Louis Diamond Quoted
By Ian Wenik
Parthenon Capital is pursuing a sale of RIA aggregator Allworth Financial, sources familiar with the situation told Citywire.
The private equity firm has hired Raymond James to serve as its investment banker, one source said.
Spokespeople for Raymond James and Parthenon Capital did not immediately respond to requests for comment.
‘Allworth has aggressively grown through its organic marketing engine and a number of meaningful subacquisitions, so it makes sense they are seeking to capitalize on this momentum,’ said Louis Diamond, an executive vice president at advisor consulting and recruiting firm Diamond Consultants.