Savant Wealth Management Expands Footprint to Pennsylvania With Acquisition of SFG Investment Advisors
— Partnership Strengthens Savant’s Offering to Senior-Level Executives —
Savant Wealth Management has acquired SFG Investment Advisors, a boutique RIA firm specializing in working with senior-level executives at publicly traded companies. Based in Doylestown, PA, SFG Wealth Planning has six employees and approximately $286 million in assets under management (as of 10/24/22). Savant did not release the terms of the deal, which closed Oct. 31.
SFG Wealth Planning marks Savant’s fourth acquisition of 2022. Previous 2022 transactions include Virginia-based Alliant Wealth Advisors, which closed on June 30, and Iowa-based RIA World Trend Financial and tax consulting firm Terry Lockridge & Dunn, both of which closed on Sept. 30. Including the SFG Investment Advisors partnership, Savant has added assets of more than $1 billion in inorganic growth this year, as well as new offices in Iowa and Pennsylvania, bringing Savant’s total number of office locations to 25.
“Our strategy for exponential growth involves seeking talented partner firms with a desire to grow, expand their services to clients, and add value to our firm,” said Brent R. Brodeski, CPA, CFP®, CFA®, MBA, founder and CEO of Savant. “SFG Investment Advisors has a unique niche, managing the personal wealth of Fortune 500 executives at the top of their professions. We are pleased to add this team to our deep bench of specialists who already serve executives and professionals with wealth, estate, and tax planning.”
“When we embarked on our search for a strategic partner, we were looking for a large, fee-only RIA with greater resource capacity and a commitment to financial planning,” said Chuck Steege, CFP®, CEP, CKA®, owner and president of SFG Investment Advisors. “Savant understands and appreciates the work we do with our senior-level executives, and we were impressed by the firm’s willingness to support our niche clients with the best-in-class services they deserve.”
Steege and Matthew Witter, CFP®, CEP, ChFC®, AIF®, owner and senior vice president of SFG Wealth Planning, will become member-owners in Savant. In addition, both Steege and Witter hold the Certified Equity Professional, or CEP, certification, and will be the first two Savant employees to hold the designation. The CEP credential is offered exclusively by the Certified Equity Professional Institute at Santa Clara University. The certification program can take 14 months or more to complete, and includes a rigorous education, exam, and experience requirement to ensure candidates demonstrate a comprehensive knowledge of equity compensation.
In May, Savant announced a long-term growth plan that included making significant investments in top-tier talent, technology, acquisitions, marketing, and practice management. Fueled by a 2021 strategic minority investment from Kelso & Company, a North American-focused, middle-market private investment firm, Savant invested $3 million in Lumiant, an Australian fintech firm, earlier this year. It also strengthened its advisory leadership team and accelerated the pace of acquisitions in 2022.
“This is an exciting time for Savant,” said Brodeski. “We believe our firm’s ideal future lies at the intersection of growth and excellence, and we are eagerly making strides to achieve our goals in both areas.”
Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the U.S., which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.