Savant Wealth Management Targets New York

The firm has been making a number of acquisitions recently, with the latest move marking Savant’s fourth acquisition of 2024.

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Rockford-headquartered Savant Wealth
Management, a fee-only registered investment advisor, has
just acquired woman-owned Source
Financial Advisors, a New York-based boutique RIA with $536
million in assets under management.

Savant did not disclose the terms of the deal, which closed in
December.

Led by Michelle Smith, Source Financial Advisors serves high net
worth women who have experienced or are going through divorce,
the firm said in a statement. It also counts business owners and
executives among its clientele. The firm offers a financial
education program, Wife2CFO, in which divorced or divorcing women
receive coaching, guidance, and tools designed to help them plan
their financial futures.

Smith is joining Savant as a managing director, financial
advisor, and member-owner. Lauren Lisbon, a relationship manager
and family office services specialist, is joining as an associate
advisor. Megan Benner, chief compliance officer and client
services specialist, is now a member of the Savant client
services team, the firm added. Sean Smith, marketing director, is
assuming the role of transition consultant, and AnnMarie
Broughton, director, and forensic accountant, is now an
accounting manager at Savant Tax & Consulting, the firm
said. 

The acquisition forms part of Savant’s strategy to grow the
firm’s specialized client offerings. In November, Savant acquired
Louisville, Kentucky-based
Sortino Advisory Partners, whose principals specialize in
gerontology and help clients manage the financial and emotional
issues related to aging. It also recently bought
Kemp Financial Management, an RIA based in Fullerton,
California, with about $255.2 million in assets under management,
and BDK Financial Services of Brighton, Michigan, with
approximately $52.4 million in AuM. 

“Our goal in acquiring these specialty firms is to provide our
clients with best-in-class advice and recommendations that will
make a more meaningful difference in their lives,” said Brent
Brodeski, founder and CEO of Savant Wealth Management.

“Throughout my career, I’ve been committed to helping women
understand their financial options as they navigate divorce, and
I’m looking forward to helping Savant grow even stronger in this
area,” Smith added. “When the team at Savant shared the firm’s
vision to improve the lives of one million people, I knew we
shared similar values and goals. I’d love to help a million
women, and with the scale Savant can provide, I believe we are
well-positioned to grow together.” 

Source Financial Advisors is Savant’s fourth acquisition of 2024
and marks the firm’s entry into New York state. The firm now has
43 offices in 18 states, with about $28.6
billion in assets under management and $1.2 billion in
assets under advisement.