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October 8, 2021

Savant Wealth Management secures investment from Kelso & Company

By Verdict Staff

Savant Wealth Management has received a strategic minority investment from North American-focused middle-market private investment firm Kelso & Company.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

Financial terms of the deal have not been shared.

Based in Illinois, Savant is a fee-only registered investment adviser (RIA) with nearly $12bn in assets under management (AuM).

The firm offers investment management, financial planning, retirement planning, and family office services to financially established individuals and institutions.

The partnership with Kelso will provide Savant with additional growth capital and capabilities that are required to ramp up its acquisition and organic growth strategies.

Kelso will also offer the firm access to additional resources in technology, marketing, human capital, and mergers and acquisitions (M&A).

Savant CEO and founder Brent Brodeski said: “Kelso’s history, culture and embrace of employee-owned, founder-led firms made it an excellent fit to propel our growth – thoughtful growth that will broaden our impact, support our employee-owners and further enhance the outstanding value and service we deliver to clients.”

Under the agreement, Savant’s current management team will remain in place with Brodeski retaining full control of the company and the board.

Kelso partners Chris Collins and Steve Dutton will join Savant directors board as part of the investment.

Commenting on the deal, Collins said: “We believe Savant is highly differentiated in its markets with a unique value proposition, and it is well-positioned to continue to expand its comprehensive platform of integrated service offerings, serve as a trusted partner to clients and advisors, and accelerate its already impressive growth trajectory.”

In addition to the Kelso partnership, Savant secured an expanded credit facility from Truist Bank to support its M&A/partnership strategy.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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