Savant Capital acquires Northern Illinois RIA

Deal expands firm's footprint in Chicago area, boosts AUM to $3.7 billion

Dec 11, 2013 @ 3:04 pm

RIA, registered investment adviser
+ Zoom

Independent registered investment adviser Savant Capital Management has agreed to acquire Paragon Advisors, a Naperville, Ill.-based RIA, in a deal that will boost Savant's assets under management to $3.7 billion.

Terms of the acquisition were not disclosed but Savant said in a statement that the deal is scheduled to close Dec. 31.

Gregory De Jong, founding principal of Paragon, and two Paragon client service team members will join Savant Capital, which is headquartered in Rockford, Ill.

"We said from Day One of deploying an M&A strategy that we would only consider the best RIAs," Brent Brodeski, chief executive of Savant Capital, said in the statement. “And Paragon lives up to their name, aligning with us regionally, structurally, philosophically, and culturally."

Mr. De Jong said the deal would allow Paragon to expand its offerings “and secure the long-term future of our practice.”

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

Events

How politics are moving markets

The financial services industry stands at the unique intersection of politics and market fluctuation. Clients are anxious and the right adviser can steady he waters. Scott Kubie of Carson Group explains how.

Video Spotlight

The Search for Income

Sponsored by PGIM Investments

Recommended Video

Path to growth

Latest news & opinion

How does your advisory firm stack up?

Comparing a firm's pay to the competition can point out vast flaws.

10 signs your client is cheating on you

Sure signs that clients may be on the way out the door.

Morgan Stanley sees slower fee-based asset flows on fiduciary rule delay

Flows to advisory accounts, while still higher than the start of 2016, dropped off more than 20% from Q2 and were the lowest in a year.

How adviser salaries stack up to other jobs

Median compensation hovers just under $100,000 on the low end and reaches nearly $300,000 for bosses.

Finra ranking brokers in effort to crack down on industry's bad apples

All 634.403 reps have been ranked based on factors such as prior regulatory disclosures, disciplinary actions and employment history.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print