Savant Wealth Management, a fee-only RIA based in Rockford, Ill., has acquired two smaller competitors in a deal whose terms are undisclosed.

The smaller firms are:

• Basil Financial Group, a women-owned, fee-only RIA in Chicago with three employees and $75.5 million in AUM; and

• Paragon Financial Advisors, a Columbia, S.C.-based fee-only RIA with two employees and $84.1 million in AUM

“These two firms share Savant’s commitment to growth and excellence,” said Savant founder and CEO Brent Brodeski, is a press release.

These are Savant’s second and third acquisitions this year as it aims to grow its business three-fold to five-fold over the next five years. In February, it bought Capital Directions, a 25-employee fee-only firm in Atlanta with $3.3 billion in AUM. Earlier that month, it hired Patrick Lawlor to lead its inorganic growth operations. Lawlor had been president and head of mergers and acquisitions at the Mather Group, a Chicago-based wealth management firm.

Since that hire, Savant’s AUM has increased from $14.3 billion to $18 billion as of the end of March, according to company literature.

The Basil Financial acquisition expands Savant’s footprint in the Chicago area and allows the firm to open its 13th office in the state.

“We had been unable to accept new clients since 2021 due to capacity constraints,” said Lois Basil, one of Basil Financial’s two co-heads, in a statement. (She will become a member-owner of Savant.) “Partnering with Savant provides our firm an extensive suite of resources we need to serve both new and current clients alike.”

Paragon Financial becomes Savant’s first office in South Carolina.

Paragon Financial’s Mark Zion added, “Savant’s additional resources could benefit not only our clients but also our team members.”

Savant’s Brodeski echoed that sentiment. “Joining our firm enables these smaller RIAs to provide their clients with a broader array of services, improved technology, and a stronger value proposition,” he said, “that includes better negotiating power to keep investment fees lower.”

At last count, Savant now has 28 offices in 11 states, and more than 400 employees.