A New York boutique registered investment advisor focused on working with women who are divorced or in the process of divorce has been acquired by a growing national firm.
Savant Wealth Management has acquired Source Financial Advisors, adding approximately $536 million in assets under management and expanding its specialist advisory capabilities.
Source was founded by Michelle Smith, CFDA, who joins Savant as a managing director, financial advisor, and member-owner. The firm includes business owners and executives among its high-net-worth clients.
“Throughout my career, I’ve been committed to helping women understand their financial options as they navigate divorce, and I’m looking forward to helping Savant grow even stronger in this area,” said Smith. “When the team at Savant shared the firm’s vision to improve the lives of 1 million people, I knew we shared similar values and goals. I’d love to help a million women, and with the scale Savant can provide, I believe we are well-positioned to grow together.”
As well as Smith, Savant gains Source’s team of professionals: Lauren Lisbon, a relationship manager and family office services specialist, joins as an associate advisor, Megan Benner, chief compliance officer and client services specialist, joins the client services team, Sean Smith, marketing director, assumes the role of transition consultant, and AnnMarie Broughton, CPA, director, and forensic accountant, is now an accounting manager at Savant Tax & Consulting.
Specialized client offerings is a key growth strategy for Savant which also recently acquired Louisville, Kentucky firm Sortino Advisory Partners, which has a focus on the financial and emotional issues related to aging. Savant has made four acquisitions in 2024 and now has 43 offices in 18 states.
“Our goal in acquiring these specialty firms is to provide our clients with best-in-class advice and
recommendations that will make a more meaningful difference in their lives,” said Brent Brodeski, CPA, CFP, CFA, MBA, founder and CEO of Savant Wealth Management. “While many advisors are familiar with and can generally speak to the life-stage issues clients face, they may not have access to the in depth knowledge and key resources their clients need. At Savant, our business model is designed to enable advisors to draw on specialists who can go beyond the basics and strengthen the client relationship.”
“I’m seeing more disputes like this between advisors and other advisors at the same practice,” said one industry executive.
Longer retirements and steady inflation could drain retiree portfolios before heirs inherit, with 4% net returns running dry by year 34.
Beth Emswiler and Andrew Borner join as senior managing directors as the private bank widens its push for ultra-high-net-worth clients
Morningstar advisor survey finds admin work, rising client demands are offsetting efficiency gains from greater technology adoption.
Raymond James, UBS and Prime Capital Financial also announced additions as advisor recruiting stays brisk across wirehouse and independent channels
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
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
