Savant Wealth Management has added another large-AUM firm to its growing list of acquisitions in 2023.
The company has acquired Bridgeworth Wealth Management, a woman-led registered investment advisory firm with offices in Birmingham and Huntsville, Alabama, with 58 employees and approximately $2.2 billion AUM. The deal is Savant’s second largest of eight acquisitions in 2023, including three with AUM of $1.5 billion or more.
Bridgeworth was co-founded in 2008 by DeLynn Zell, who will continue to lead the Alabama offices as well as serve in a leadership role at Savant. Along with the current Bridgeworth owners, she will become a member-owner in Savant, in addition to five new partners who will be joining Savant as member-owners.
“Partnering with Savant fits ideally into the trajectory of our strategic plan,” said Zell. “Our desire is to offer clients industry-leading client-facing technology and expanded services, including tax planning and preparation and family office resources.”
For Savant, the acquisition is its first in Alabama and will expand Savant’s national footprint to 14 states and 37 offices.
“As we grow, we are focused on positioning our firm with best-in-class talent, processes, and technology, while seeking to enhance our culture of excellence and client-first principles,” said Brent Brodeski, chief executive of Savant. “As the 2023 InvestmentNews #1 ‘Best Place to Work’ for RIA firms in the country, Bridgeworth is an excellent fit, and we are proud to welcome their team to Savant.”
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Survey finds AI widely embedded in research and analysis, but barely touching portfolio construction or trade execution.
Two firms land teams managing more than $1.1 billion in combined assets from Kestra and Edward Jones.
A private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
