Savant Wealth Management Adds $542M RIA Socha Financial Group

Savant Wealth Management has acquired a New York-based registered investment adviser that oversees roughly $542 million in assets under management. 

Corning, NY-based Socha Financial Group, which was founded in 1983 by Nancy Socha, is led by COO and managing partners Michelle Socha Vang and Jolie McCarthy. 

The eight-person team offers financial planning, investment management, tax planning and preparation, and estate planning to high-net-worth clients in the Corning area and employees and retirees of Corning Incorporated. 

Following the acquisition, all members of Socha Financial Group have joined Savant, and the RIA’s CEO and CIO Michael Socha, has joined Savant as a member-owner but will not be an employee, Savant said.  

“Throughout our history, our focus has been on building meaningful relationships and helping clients make informed financial decisions through comprehensive planning,” Vang said. “As our firm has grown, we recognized the need for additional resources, technology, and specialized expertise to continue providing high-quality service to clients.” 

The acquisition marks Savant’s third office in New York, following its acquisition of Melville, NY-based Heller Wealth Management, which oversees roughly $550 million in total client assets. 

Financial terms of the deal, which closed on August 31, were not disclosed. 

Rockford, Ill-based Savant Wealth Management manages about $56.5 billion in assets under management and $1.5 billion in assets under advisement, as of June 30.