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Financial Advisory  + Direct Investment  + M&As  + RIAs & Financial Advisors  + Wealth Management  |  June 28, 2023
Savant Wealth Management to Buy $483M Massachusetts RIA
By: Joe Palmisano

Savant Wealth Management to Buy $483M Massachusetts RIA

Savant Wealth Management, a $20 billion registered investment advisor (RIA), is buying Wellesley, MA-based RIA The Relaxing Retirement Coach, which manages $483 million in assets.

The acquisition marks Rockford, IL-based Savant’s first in New England, and its fifth of the year. Terms of the deal, which is expected to close Friday, were not released.

The Relaxing Retirement Coach was founded in 2003 by Jack Phelps, who will become an owner-member in Savant and will be joined by five employees.

“Jack is a thought-leader who has built a unique and successful business helping people pursue their retirement goals. We were impressed by the community Jack and his team have built, and we are excited to join forces to continue their growth in New England,” said Brent Brodeski, Savant Wealth Management CEO.

Backed by private equity firms Kelso & Company and The Cynosure Group, Savant has been an active acquirer in 2023, adding firms in Georgia, Pennsylvania and South Carolina. Two notable acquisitions included $3.3 billion Atlanta-based Capital Directions and $1.5 billion Domani Wealth, based in Lancaster, PA.

Advisor Growth Strategies, LLC served as transaction advisor for The Relaxing Retirement Coach, Inc.

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Inside The Story

Savant Wealth ManagementThe Relaxing Retirement Coach

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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