Menu

George Mckelvey Company & Allworth Financial

Park Sutton Advises $1.1 Billion George McKelvey Company on Partnership with Allworth

New York, NY, October 8, 2024 – Park Sutton Advisors, a Waller Helms Company (“Park Sutton”) is pleased to have represented George McKelvey Company (“GMC” or the “Firm”) on its partnership with Allworth Financial (“Allworth”), a national wealth manager with over $22 billion in client assets, headquartered in Sacramento, California.

Founded in 1960, GMC has built a reputation along the Jersey Shore for providing comprehensive financial planning and investment management services to high-net-worth families and individuals. The Firm is led by Robert McKelvey, Robert Giunco, Jr., and Richard Looney, whose families share generational ties that have carried GMC’s legacy and helped the Firm grow to over $1 billion in client assets.

“The addition of George McKelvey Company represents an important move in our ongoing mission to provide exceptional financial guidance across the nation,” said Allworth CEO, John Bunch. “Their strong presence in New Jersey and impressive track record perfectly aligns with our growth objectives and commitment to client service.”

“Partnering with Allworth opens up exciting possibilities for our team and clients,” said Robert Giunco, Jr. “Their resources and client-focused approach will allow us to enhance our service offerings while maintaining the personalized attention our clients expect.”

This transaction was co-led by Managing Directors Steven Levitt and Dan Erichson, CFA of Park Sutton. Dan Erichson commented, “I first met the GMC team 7 years ago and it is so gratifying to have helped them to find a phenomenal partner in Allworth. It is rare to find firms with the innate ability to develop multi-generational relationships and GMC is undoubtably one of those having formed deep bonds with clients for 65 years.” Steven Levitt added, “Since our first meeting in 2017, GMC undertook several initiatives to best position the Firm before deciding to pursue a strategic partnership. This resulted in a smoother transition and greater value for all parties involved. It was truly a privilege to have worked with this group.”

var _userway_config = { // uncomment the following line to override default position // position: '5', // uncomment the following line to override default size (values: small, large) // size: 'small', // uncomment the following line to override default language (e.g., fr, de, es, he, nl, etc.) // language: null, // uncomment the following line to override color set via widget // color: 'null', // uncomment the following line to override type set via widget(1=man, 2=chair, 3=eye) // type: 'null', account: '8XMSr5xtF3' };