US-based registered investment adviser (RIA) Savant Wealth Management has agreed to Wisconsin-based RIA Filbrandt Wealth Management for an undisclosed amount.
The deal, which marks Savant’s largest acquisition to date, is expected to close at the end of this month.
Filbrandt provides financial planning services to university professionals in the US.
The Filbrandt Total Solution, the firm’s three-step process combines investment, retirement, and estate planning services to help clients meet their financial planning goals.
It manages approximately $1.8bn in assets under advisement.
Savant CEO Brent Brodeski said: “Our partnership with Filbrandt is the first since our most recent recapitalisation, and demonstrates Savant’s commitment to expand our comprehensive platform of integrated service offerings.
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“With its unique value proposition, Filbrandt will help Savant propel our growth and further enhance the outstanding value and service we provide clients.”
Filbrandt co-founder Patricia Filbrandt said: “In searching for a partner to continue our legacy of service to the university community, we were impressed by Savant’s growth strategy and approach to M&A activity.
“But as we got to know the team, we also felt an immediate alignment with Savant’s culture. We look forward to working with Savant, and are pleased that our clients will have access to the firm’s deep bench and extended resources in the future.”
The latest deal marks the third acquisition this year, following its takeover of Michigan-based AMDG Financial, and Indiana-based Treybourne Wealth Planners.
In October this year, the firm secured strategic minority investment from Kelso & Company to continue the expansion of its integrated service offerings and accelerate its growth.