Savant Wealth Management to Acquire $2.2 Billion Bridgeworth Wealth Management
– Acquisition Will Mark Savant’s Second Largest in 2023, First in Alabama –
Savant Wealth Management announced plans to acquire Alabama-based Bridgeworth Wealth Management, a woman-led RIA firm with offices in Birmingham and Huntsville. Bridgeworth, which has 58 employees and assets under management (AUM) of approximately $2.2 billion, represents Savant’s second largest of eight acquisitions in 2023, and is one of three Savant deals of $1.5 billion or more this year. The two firms have signed a definitive agreement and expect to close before year end.
Among Forbes’ top RIA firms1, Bridgeworth is one of the largest independent, privately owned RIAs in Alabama. Co-founder DeLynn Zell, CFP®, will continue to lead the Alabama offices as well as serve in a leadership role at Savant. Zell and current Bridgeworth owners will become member-owners 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, who co-founded Bridgeworth in 2008. “Our desire is to offer clients industry-leading client-facing technology and expanded services, including tax planning and preparation and family office resources, ” Zell added. “We are highly aligned in our approach to planning, investments, client service and core values, and look forward to becoming a part of the Savant team.”
“DeLynn and the Bridgeworth team embody all of the characteristics we look for in a strong partnership,” said Brent Brodeski, CPA, CFP®, CFA®, MBA, chief executive officer of Savant. “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. As the 2023 InvestmentNews #1 ‘Best Place to Work’ for RIA firms in the country2, Bridgeworth is an excellent fit, and we are proud to welcome their team to Savant.”
In addition to Zell, Bridgeworth’s existing partners include Bridgeworth co-founder, Wayne Harris, CFP®, Brian Hinson, CFP®, CPA/PFS, ChFC®, Patti Black, CFP®, CSA®, Sam Fitch, CFP®, Jeris Gaston, CFP®, CRPC®, William Hocutt, CFP®, CPA, Zach Ivey, CFP®, CFA®, ChFC®, Jeff McCormack, CFP®, and Jenny Sneed, CFP®, ChFC®. Joining this group as member-owners in Savant are Stephen Gunter, CFP®, MS, David LeCompte, CFP®, CRPC®, CFS®, RICP®, Jonathan Millican, CFP®, David Ward, CFP®, and Stewart Whitt, MS, CFP®, CRPC®.
The acquisition of Bridgeworth will expand Savant’s national footprint to 14 states and 37 offices. Previous acquisitions in 2023 included Basil Financial Group in Chicago, Capital Directions in Atlanta, Domani Wealth in Lancaster, PA, Paragon Financial Advisors in Columbia, SC, The Relaxing Retirement Coach in Wellesley, MA, and R.F. Book & Associates and Wealth Management Group in Dover, DE.
Savant is a registered Investment advisor. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Neither rankings and/or recognitions by unaffiliated rating services, publications, media, or other organizations, nor the achievement of any professional designation, certification, degree, or license, or any amount of prior experience or success, should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Savant is engaged, or continues to be engaged, to provide investment advisory services. Please read our Important Disclosures at savantwealth.com.
1 Forbes announced the 2023 Top RIA Firms on October 10th. Research was compiled by SHOOK Research and is completely independent and objective. Neither Forbes nor SHOOK received a fee in exchange for ratings.
2 InvestmentNews Best Places to Work 2021-2023. Employees participated in optional and anonymous online surveys. Research was compiled by the Best Companies Group on behalf of InvestmentNews. Honorees were ranked solely on their survey results. There was no cost or fees associated.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.