Allworth Enhances Tax Services with CCA Acquisition

Deal News | Nov 19, 2024 | Lightyear Capital

Allworth Financial has acquired CCA, LLP, a CPA firm specializing in tax services, based in Pleasant Hill, California. This strategic acquisition enhances Allworth's tax capabilities and expands its presence in Northern California. With the addition of CCA, which brings a team of 25 experienced tax professionals, Allworth aims to meet increasing client demand for comprehensive financial services, including robust in-house tax offerings. The acquisition marks Allworth's 8th this year and 39th since 2018, demonstrating the firm's commitment to growth and expansion in the financial advisory sector. Both Allworth’s CEO, John Bunch, and CCA’s founder, Gerardo Alvarado, express enthusiasm about the collaboration, highlighting the alignment of company values and the mutual benefits anticipated for clients and employees. Lightyear Capital, the private equity firm backing Allworth, continues to play a pivotal role in facilitating strategic expansions like this.

Sectors

  • Financial Services
  • Accounting and Tax Services
  • Private Equity

Geography

  • United States – Allworth Financial operates across the United States, and CCA, LLP is based in California, indicating the geographical focus on the US.
  • California – Both Allworth Financial's expansion and CCA, LLP's operations are focused in California, particularly the enhancement in the Bay Area region.

Industry

  • Financial Services – Allworth Financial is part of the financial services industry, specifically focusing on investment management, tax planning, and 401(k) management.
  • Accounting and Tax Services – The acquisition involves a CPA firm, CCA, LLP, which specializes in tax services, thereby associating the industry with accounting and tax services.
  • Private Equity – Lightyear Capital, the private equity firm backing Allworth, is part of the private equity industry, facilitating investments and acquisitions.

Financials

    Participants

    NameRoleTypeDescription
    Allworth FinancialAcquiring CompanyCompanyA full-service Registered Investment Advisor (RIA) specializing in financial planning and investment management.
    CCA, LLPTarget CompanyCompanyA CPA firm known for its tax services located in Pleasant Hill, California.
    Lightyear CapitalPrivate Equity FirmCompanyThe PE firm supporting Allworth Financial in its strategic acquisitions, providing capital and industry expertise.
    John BunchCEO of Allworth FinancialPersonChief Executive Officer at Allworth Financial, emphasizing the company's growth and client-focused strategy.
    Gerardo AlvaradoFounder and Senior Partner at CCA, LLPPersonLeading the tax-oriented firm, CCA, LLP, and facilitating the integration with Allworth Financial.