Savant Wealth Administration, a Kelso-backed registered funding advisory agency based mostly in Rockford, Ailing., plans to amass Alabama-based Bridgeworth Wealth Administration in a deal anticipated to shut by the tip 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 steer the Alabama places of work—Savant’s first within the state—and can develop into a companion within the agency together with 9 different present Bridgeworth house owners and 5 new companions.
“Partnering with Savant matches ideally into the trajectory of our strategic plan,” Zell stated 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 certainly 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 objective 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 shopper belongings—up from $14.3 billion on the finish of 2022.
“DeLynn and the Bridgeworth group embody the entire traits we search for in a powerful partnership,” stated Savant CEO Brent Brodeski. “As we develop, we’re centered on positioning our agency with best-in-class expertise, processes, and expertise, whereas looking for to boost our tradition of excellence and client-first rules.”
Earlier 2023 acquisitions for Savant embrace 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.
