Savant Wealth Buys $376M Delaware RIA and CPA Businesses
Savant Wealth Management has acquired tax and accounting services firm Raymond F. Book & Associates and its $376 million fee-only registered investment advisor firm Wealth Management Group.
Financial terms of the deal were not disclosed.
Dover, DE–based Raymond F. Book & Associates, which also offers business-startup advice, management advisory services and tax-related estate and trust services, founded its affiliated RIA firm in 2001 to meet the need for financial advisors tapping its tax-efficient strategies for clients, according to Savant.
“One of the factors that attracted us to Savant was that it fully embraced partnering with both our accounting and wealth management businesses,” Ronald Vascik Jr., managing partner of Raymond F. Book & Associates.
As part of the deal, 26 employees will join Savant, seven of whom will become member-owners, bringing the total number of employee owners to 136 and the total number of employees to 464.
Among the $20.3 billion Rockford, IL-based Savant’s recent deals is the acquisition of Domani Wealth, an RIA firm with $1.5 billion in assets, as well as The Relaxing Retirement Coach, an RIA firm managing $483 million in assets.
