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.”
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
