Savant Wealth Management, a Rockford, Illinois-based registered investment adviser managing $13.5 billion, has acquired Alliant Wealth Advisors, a Manassas, Virginia-based RIA firm managing and advising on $262 million.
Terms of the acquisition were not disclosed.
Since Kelso & Co. took a minority stake in the firm in 2021, Savant has been looking to acquire other RIA firms as well as grow organically.
Alliant Wealth includes a qualified plans division, which works with employers to develop retirement plan benefits and provides resources to help companies educate workers about their retirement plans. Alliant’s qualified plans division will become a part of Savant’s retirement plan services division, Savant said in a press release.
John Frisch, president of Alliant Wealth and Jeff Schatz, senior advisor at Alliant Wealth, will become member-owners in Savant.
According to a federal charges Bradley Heppner, 60, received more than $150 million in payments through funneling money from GWG Holdings to a shell company.
A $1B fund allegedly skimmed 30% off the top, then swapped cash for locked-up stock.
Insiders allegedly rewrote projections three times in four days.
TCI Wealth Advisors also has also tapped JIFFYAI to unify onboarding and servicing, while TradePMR adds ICE market data to its Fusion advisor platform
Also, CAPTRUST adds a $300 million planning team from Sanctuary in its home market of Raleigh, and Sequoia Financial Group buys a Boulder family office.
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
