Rockford, Ill.-based RIA Savant Wealth Management announced that it has acquired $1.53 billion AUM Domani Wealth, an RIA based in Lancaster, Pa.
Domani’s 23 employees and four central Pennsylvania offices became part of Savant on May 9, according to the announcement. The transaction is Savant’s fourth acquisition of 2023.
Domani’s eight partners, Angela Berkosky, Michael Dinan, Kenneth Eshleman, Jennifer Hill, Scott Michael, Angie Stephenson, Christopher Stock and Thomas Williams will become equity owners in Savant. In addition, Matthew Gavel, senior portfolio manager, will become an equity owner as part of the deal.
Savant now covers 32 offices in 11 states, including five now in Pennsylvania, with total AUM of approximately $19.5 billion.
“Domani Wealth is well-known in Central Pennsylvania, with deep roots in its communities and a reputation for technical expertise and a team approach,” said Brent R. Brodeski, founder and CEO of Savant, in released comments. “Domani’s culture directly aligns with Savant’s focus on excellence, integrity, lifelong learning and respect. As we continue to expand our footprint in the Mid-Atlantic region, we found this partnership to be a natural fit.”
Additional details of the acquisition were not disclosed on Wednesday.