Savant Wealth Management Acquires Two Firms

Savant Wealth Management has acquired two wealth management firms, bringing a combined $371 million in assets under management to the registered investment advisory firm. 

Beaverton, OR-based North Ridge Wealth Advisors, which was founded in 2011, oversees about $223 million in total client assets and is led by Brian Lawrence and Adam Cornwell. The firm provides wealth management-related services, including financial planning and investment management. 

Following the acquisition, Lawrence and Cornwell have joined Savant as member‑owners, and two other members from North Ridge Wealth Advisors have joined as employees, Savant said. 

Savant also acquired Walnut Creek, CA-based Desmond Wealth Management, which manages roughly $148 million in total client assets and is led by Gregory Desmond. The firm offers wealth management-related services, including tax planning for high-net-worth clients. 

Following the acquisition, all eight employees of Desmond Wealth Management have transitioned to Savant and two Desmond employees have joined Savant Tax & Consulting, Savant said. 

Financial terms of the deals, which closed on May 5, were not disclosed. 

“We believe North Ridge and Desmond each bring distinct strengths that expand our ability to provide integrated wealth and tax strategies while maintaining the personalized service their clients expect,” Brent Brodeski, CEO and founder of Savant Wealth Management, said. 

Last month, Savant also made two large acquisitions, Oklahoma City-based Exencial Wealth Advisors and Melville, NY-based Heller Wealth Management, which added $7 billion in combined assets. 

Rockford, Ill-based Savant Wealth Management, founded in 1986, manages $50 billion in assets under management and $2 billion in assets under advisement, as of April 22, the firm said.