Savant Wealth Administration, a Kelso-backed registered funding advisory agency primarily based in Rockford, Unwell., plans to amass Alabama-based Bridgeworth Wealth Administration in a deal anticipated to shut by the top of the yr.
With places of work in Birmingham and Huntsville, Bridgeworth was based in 2008 and can convey 58 staff and round $2.2 billion in belongings to Savant. Bridgeworth co-founder DeLyn Zell will proceed to guide the Alabama places of work—Savant’s first within the state—and can turn out to be a associate within the agency together with 9 different current Bridgeworth homeowners and 5 new companions.
“Partnering with Savant matches ideally into the trajectory of our strategic plan,” Zell mentioned in an announcement. “Our want is to supply shoppers industry-leading client-facing expertise and expanded companies, together with tax planning and preparation and household workplace sources.”
Savant’s eighth acquisition of the yr, Bridgeworth represents the second largest and considered one of three offers with greater than $1.5 billion managed belongings. Early this yr, the agency introduced in Patrick Lawlor to execute an bold mergers and acquisitions technique, with the purpose of rising belongings by three to 5 occasions over the following 5 years.
The acquisition of Bridgeworth will convey Savant to 14 states and 37 places of work, managing greater than $23 billion in consumer belongings—up from $14.3 billion on the finish of 2022.
“DeLynn and the Bridgeworth group embody all the traits we search for in a powerful partnership,” mentioned Savant CEO Brent Brodeski. “As we develop, we’re targeted on positioning our agency with best-in-class expertise, processes, and expertise, whereas in search of to reinforce our tradition of excellence and client-first rules.”
Earlier 2023 acquisitions for Savant embody Basil Monetary Group in Chicago, Capital Instructions in Atlanta, Domani Wealth in Lancaster, Penn., Paragon Monetary Advisors in Columbia, S.C., The Stress-free Retirement Coach in Wellesley, Mass., and R.F. E book & Associates and Wealth Administration Group in Dover, Del. Collectively, they characterize greater than $8 billion in acquired belongings.
