PE-Backed Allworth Financial to Acquire Novak Financial Planning

Posted on 09/01/2021

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Novak Financial Planning (NFP) is based in Bel Air, Maryland. Novak Financial Planning was founded in 1987 by husband-and-wife team Dan and Carol Novak. Novak Financial Planning has grown to over US$ 367 million in assets under management and serves approximately 450 clients. Backed by Lightyear Capital, Allworth Financial acquired Novak Financial Planning.

“RIAs such as Novak Financial Planning that are well-run and have loyal clients are hard to find,” said Allworth Co-CEO and Co-founder, Pat McClain in a press release. “The fact that it’s a family-run advisory firm providing fiduciary investment management made partnering with Dan and Carol an easy decision to make.”