Savant Wealth Management, a national fee-only wealth management firm headquartered in Rockford, Ill., has agreed to acquire AMDG Financial, a fee-only RIA, and AMDG Business Advisory Services, a tax and accounting firm, the company announced today in a news release.
Founded in 2002, AMDG manages approximately $250 million in assets for about 300 clients. The firm is headquartered in Plymouth, Mich., a new market for Savant that will further expand its national footprint, which currently includes offices in Illinois, Arizona, New Mexico, Wisconsin and Virginia.
Financial details of the transaction were not disclosed, but under terms of the deal, AMDG’s five equity partners will join Savant as owners, and the firm will expand to a total of 500 employees once the transaction is completed.
According to Savant’s chief operating officer, Kevin Hrdlicka, who leads the firm’s M&A integration process, this latest deal is part of the business growth philosophy Savant has pursued since 2019, as well as the value proposition it offers to potential partners.
“Savant’s M&A philosophy is different from the transactional deals you typically see throughout the RIA industry,” he said in the news release. “This is intentional as we seek partners with new perspectives and areas of expertise that complement our work. We don’t want to be known as the biggest RIA. We want to be known as the best RIA in the nation.”
Savant Wealth Management, formerly known as Savant Capital Management, serves more than 6,500 clients and manages $10.5 billion in assets.