Savant Wealth Nabs $1.5B+ PA RIA for Fourth Acquisition of Year
Registered investment advisor (RIA) Savant Wealth Management has acquired Domani Wealth, a Lancaster, PA RIA with more than $1.5 billion in client assets.
Terms of the deal were not made available.
Domani Wealth marks the fourth acquisition of 2023 for Savant, and its second partnership in Pennsylvania. Savant’s presence now spans 32 locations across 11 states, including five in Pennsylvania, as a result of the acquisition.
Citing cultural similarities, Brent R. Brodeski, founder and CEO of Rockford, IL. -based Savant, said, “Domani’s culture directly aligns with Savant’s focus on excellence, integrity, lifelong learning and respect. As we continue to expand our footprint in the Mid-Atlantic region, we found this partnership to be a natural fit.”
Domani’s eight partners, Angela Berkosky, Michael Dinan, Kenneth Eshleman, Jennifer Hill, Scott Michael, Angie Stephenson, Christopher Stock and Thomas Williams will become equity owners in Savant. In addition, Matthew Gavel, senior portfolio manager, will become an equity owner as part of the deal.
The deal brings Savant’s total assets under management to $19.3 billion and it plans to ramp up its acquisition pace in the coming years.