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Allworth Financial acquires Houston Asset Management

Sacramento, Calif.-based Allworth Financial LP acquired Houston-based financial planning and investment advisory firm Houston Asset Management Inc.

Houston Asset Management manages about $450 million of client assets and serves more than 680 households. Its team of five advisers, five client service staff and three operations staff will join Allworth.

The acquisition brings Allworth's total assets under management to roughly $8 billion.