Savant Wealth closes in on $20 billion with fourth acquisition of the year

The deal for Domani Wealth adds $1.5 billion and expands Savant's footprint with Domani's four offices in central Pennsylvania.

Savant Wealth Management has notched its fourth deal of 2023 with the acquisition of Domani Wealth, a $1.53 billion RIA based in Lancaster, Pennsylvania.

Domani is a 25-year-old advisory firm with 25 employees and four offices in central Pennsylvania.

The deal brings Savant’s total assets under management to $19.3 billion. The firm’s footprint includes 32 offices in 11 states, including five offices in Pennsylvania.

“Domani Wealth is well-known in central Pennsylvania, with deep roots in its communities and a reputation for technical expertise and a team approach,” Savant founder and Chief Executive Brent Brodeski said in a statement.

“As we continue to expand our footprint in the Mid-Atlantic region, we found this partnership to be a natural fit,” he added.

Details of the transaction were not disclosed, but Brodeski said the purchase is “part of an intentional strategy by Savant to follow an accelerated pace of acquisitions over the next few years.

“We believe our firm’s ideal future lies at the intersection of growth and excellence, and we are eagerly making strides to achieve our goals in both areas,” he explained.

Domani Wealth’s eight partners became equity owners in Savant when the deal closed Tuesday.