Savvy Advisors crosses $1B milestone to close 2024

Savvy Advisors crosses $1B milestone to close 2024
Ritik Malhotra, founder and CEO of Savvy Wealth.
Founder and CEO hails industry-beating growth record, sealed by final four advisor additions, as proof of tech-empowered RIA's "belief in the value of human financial advice."
JAN 09, 2025

Savvy Advisors, a technology powered RIA firm, is starting the new year strong with a significant milestone, surpassing $1 billion in assets under management in 2024.

The affiliated RIA of Savvy Wealth, the digital-first, multi-custodial tech platform for financial advisors, revealed Thursday that it had tripled its AUM and advisor count over the past year.

That record was driven home by the addition of four experienced advisors in December, which pushed it over the billion-dollar line and brought its advisor headcount to 40.

Ritik Malhotra, founder and CEO of Savvy Wealth, credited the firm's achievement to its focus on integrating human-centric financial advice with advanced technology.

“Savvy Advisors’ rapid growth is a testament to our belief in the value of human financial advice,” Malhotra said in a statement Thursday morning. “As we onboard more advisors to the Savvy Wealth platform, we continue to learn more ways we can modernize wealth management.”

The RIA's growth far outpaced industry averages reported in Schwab’s 2024 RIA Benchmarking Study, which noted total AUM growth of 18 percent across the industry, counting market performance. Focusing on organic growth only, the study found firms at the median achieved roughly 5 percent growth, while top-performing firms posted around 12 percent growth.

Savvy's technology platform uses artificial intelligence to streamline financial planning and operations, enabling advisors to concentrate on client relationships. Along those lines, Cindy Alvarez and Janelle Van Meel, who joined the firm in December, plan to leverage Savvy Wealth’s collaborative Advisory Teams feature.

The other new hires at Savvy Advisors include Erin Niehaus, a veteran wealth manager from J.P. Morgan Private Bank specializing in executive and private equity clients; and Samuel Saleh, a former Merrill advisor who focuses on retirement, succession, and legacy planning for retirees and business owners.

“With over 40 wealth managers serving clients across the wealth spectrum, Savvy Advisors has become a welcome home for independent advisors looking to scale their practice on their terms,” Malhotra said.

“By providing innovative technology and solutions coveted by advisors, we help them deliver unforgettable client experiences,” said Malhotra.

Latest News

Judge OKs more than $90 million in settlement money for GWG investors
Judge OKs more than $90 million in settlement money for GWG investors

Mayer Brown, GWG's law firm, agreed to pay $30 million to resolve conflict of interest claims.

Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs
Fintech bytes: Orion and eMoney add new planning, investment tools for RIAs

Orion adds new model portfolios and SMAs under expanded JPMorgan tie-up, while eMoney boosts its planning software capabilities.

Retirement uncertainty cuts across generations: Transamerica
Retirement uncertainty cuts across generations: Transamerica

National survey of workers exposes widespread retirement planning challenges for Gen Z, Millennials, Gen X, and Boomers.

Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future
Does a merger or acquisition make sense for your firm? Why now is the perfect time to secure your firm’s future

While the choice for advisors to "die at their desks" might been wise once upon a time, higher acquisition multiples and innovations in deal structures have created more immediate M&A opportunities.

Raymond James continues recruitment run with UBS, Morgan Stanley teams
Raymond James continues recruitment run with UBS, Morgan Stanley teams

A father-son pair has joined the firm's independent arm in Utah, while a quartet of planning advisors strengthen its employee channel in Louisiana.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.

SPONSORED Beyond the dashboard: Making wealth tech human

How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave