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.
With over 600 clients, the $71 billion RIA acquirer's latest partner marks its second transaction in Oklahoma.
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