Savant Wealth Management Enters Florida with Acquisition of $440 Million FirstWave Financial in Satellite Beach
— Savant Closes 11 New Partnerships in 2023, Adding Offices in Six New States —
Savant Wealth Management announced its acquisition of FirstWave Financial, an independent RIA with $440 million in assets under management (AUM) in Satellite Beach, FL. Terms of the deal, which closed on Dec. 31, 2023, were not disclosed. FirstWave Financial marked Savant’s 11th acquisition of 2023 and followed three transactions that closed on Nov. 30: Clinton, S.C.-based Peay & Associates, LLC, and SwaimBrown Wealth Management, and Alabama-based Bridgeworth Wealth Management.
The addition of FirstWave Financial expands Savant’s growing national footprint to 39 offices in 15 states. “Florida is a key strategic area for Savant, since many of our clients spend their winters there,” said Brent Brodeski, CPA, CFP®, CFA®, MBA, Savant’s chief executive officer. “We now have a highly qualified team in Florida helping clients plan for, and live, their ideal futures.”
Led by Laura Chiesman, CFP®, CDFA®, president of FirstWave Financial and co-author of the book, It’s a Journey: The MUST-HAVE Roadmap to Successful Succession Planning, FirstWave chose to partner with Savant as part of the firm’s succession plan. “To continue to serve our clients and team well into the future at the high level we are committed to, we knew we would need a growth engine that not only offers comprehensive services, such as tax and estate planning, but that also has the important technology resources necessary to compete effectively,” said Chiesman. “Savant’s reputation for excellence in these areas, as well as its aligned culture and vision, made it an attractive partner for FirstWave.”
FirstWave Financial’s 14 employees joined Savant on Jan. 1, 2024, with four becoming member-owners of Savant in addition to Chiesman: Julie Allen, FirstWave’s vice president of business operations, Leslie Carlson, FPQP™, CAP, vice president of client operations, Robert DeVries, MBA, AWMA®, CRPS®, WealthCoach™ and retirement plan specialist, and Jamie Ostrander, WealthCoach™.
Other Savant acquisitions in 2023 included Basil Financial Group in Chicago, Capital Directions in Atlanta, Domani Wealth in Lancaster, PA, Paragon Financial Advisors in Columbia, S.C., The Relaxing Retirement Coach in Wellesley, MA, and R.F. Book & Associates and Wealth Management Group in Dover, DE. For more information about Savant Wealth Management, visit savantwealth.com.
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