Savant Wealth Management, a registered investment advisor headquartered in Rockford, Ill., has announced its intention to acquire Filbrandt Wealth Management, a Madison, Wis.-based RIA with $1.8 billion in client assets.
Registered in 2018 by Michael Filbrandt, the namesake firm’s CEO and chairman of the board, and Patricia Filbrandt, the firm’s president, Filbrandt Wealth Management works exclusively with university leaders and their families nationwide using a three-step process called the Filbrandt Total Solution, which integrates investment, retirement, and estate planning services to help clients achieve their financial planning goals, according to a news release.
Financial details of the transaction were not disclosed. The M&A deal is scheduled to close on November 30.
Founded in 1986, Savant Wealth Management has nearly $12 billion in client assets.
Patricia Filbrandt said in the news release that in performing the firm’s due diligence, she and her team searched for a partner that could ensure its legacy of service to the niche market of academicians it serves.
“We were impressed by Savant’s growth strategy and approach to M&A activity,” she said in the news release. “But as we got to know the team, we also felt an immediate alignment with Savant’s culture. We look forward to working with Savant, and are pleased that our clients will have access to the firm’s deep bench and extended resources in the future.”
The Filbrandt acquisition will be Savant’s third this year, and its largest to date, thanks to a minority stake that New York City-based equity firm Kelso & Company took last month in the Midwestern RIA, accelerating its M&A activity and organic growth strategies with additional growth capital, the news release said.
“Our partnership with Filbrandt is the first since our most recent recapitalization, and demonstrates Savant’s commitment to expand our comprehensive platform of integrated service offerings,” Savant CEO Brent Brodeski said in the news release. “With its unique value proposition, Filbrandt will help Savant propel our growth and further enhance the outstanding value and service we provide clients.”