Savant Wealth Management Acquires Two RIAs, Adding $7B in Combined Assets
Savant Wealth Management has added an Oklahoma-based wealth management firm, marking it the RIA’s largest transaction to date.
Oklahoma City-based Exencial Wealth Advisors, founded in 2003 by John Burns, brings $6 billion in assets under management to Savant Wealth Management, in addition to 110 employees, which includes 28 wealth advisors.
The team provides wealth management, financial planning, investment management, retirement planning, and tax and estate planning.
In 2021, Exencial Wealth Advisors sold a minority stake to First United Bank and Trust Company in a move to provide technology-based services to its clients. At the end of last year, First United owns 12% of Exencial Wealth Advisors, according to the RIA’s Form ADV Part 2A Brochure.
The RIA also has additional offices across Florida, Texas, Ohio, Pennsylvania, Connecticut, and North and South Carolina.
Savant also acquired Melville, NY-based Heller Wealth Management, which oversees roughly $550 million in assets, marking Savant’s second office in New York.
The RIA, also founded in 2003, is led by president Larry Heller and offers investment management, financial planning, wealth management, and retirement planning to high-net-worth clients.
The team also includes three wealth managers and two support staff members, according to the firm’s website.
“Exencial represents a milestone partnership for Savant, while Heller Wealth Management adds depth in an important market,” Brent Brodeski, CEO and founder of Savant Wealth Management, said. “Together, these firms strengthen our ability to deliver integrated wealth, tax, and planning services to clients nationwide.”
Earlier this month, Savant added Massachusetts-based Heritage Financial, which manages about $3.9 billion in assets under management and expands the firm’s presence in Massachusetts.
Rockford, Ill-based Savant Wealth Management, founded in 1986, manages $50 billion in assets under management and $1.9 billion in assets under advisement as of March 31, the firm said.