ROCKFORD, Ill., April 25, 2012 /PRNewswire/ -- Savant Capital Management and The Monitor Group, two independent fee-only RIAs, today announced the strategic combination of their firms. The combined firm will be called Savant Capital, LLC, and will manage more than $2.7 Billion in assets. The firm will have 10 offices in four states (Illinois, Wisconsin, Virginia and Florida) with the continued capabilities to service clients worldwide. Corporate headquarters will be in Rockford, IL.
The board of managers will consist of Thomas Muldowney, Savant Capital Management Chairman and Principal; Glenn Kautt, President and Chairman of The Monitor Group; Brent Brodeski, CEO and Principal of Savant Capital Management; and Richard Bennett, Savant Capital Management Principal and COO.
Both organizations are members of the Zero Alpha Group (ZAG), an international network of independent investment advisory firms. The principals discovered a shared investment approach and philosophy during the course of interacting over the years as members of the ZAG.
"We have known each other for several years and have had ongoing mutual respect for each other," said Thomas Muldowney, Chairman of Savant Capital Management. "Each firm has successfully grown organically - one client at a time - during the course of the past several years; joining forces provides a new avenue for growth for both organizations, and we will continue to keep our strategic growth options open."
Additionally, the combination of the two firms allows them to utilize the best practices of each organization to expand service offerings, which ensures long-term business continuity and ongoing emphasis on a client-first approach.
"We are excited about this opportunity because it aligns two firms with similar investment philosophies and corporate values," said Glenn Kautt, President and Chairman of The Monitor Group. "Our combination is the culmination of a multi-year strategy to develop into a firm that will remain in existence for many years while maintaining its cutting-edge approach to wealth management."
Brent Brodeski, CEO of Savant Capital Management, said, "In combining forces we are focusing on continuous enhancement of the experience of three groups of constituents: our clients, our teams and our communities. This is a continuity model that will continue to provide exceptional advice for clients for generations to come."
The deal was managed by strategic advisor Advisor Growth Strategies, LLC, based in Phoenix, AZ and M&A advisor Advice Dynamics Partners, LLC, based in San Francisco, CA. The M&A and Strategic advisors involved with the combination of the two firms point to a shift in the advisory landscape which has made this type of union a very appealing growth alternative for advisors with the right mind-set and capabilities.
John Furey, Principal at Advisor Growth Strategies, LLC, said, "This combination is indicative of a new era in value creation that has planted roots in our industry and is growing rapidly. Beneficiaries include the clients, the team members of the firm and advisors in transition who are looking for a good home."
"This has the potential to be the largest RIA/RIA combination of 2012," said David Selig, CEO of Advice Dynamics Partners. "The days when transactions of this type were only possible for the large acquirers are in the rear-view mirror. Exceptional wealth managers like Savant and Monitor have realized that joining forces is not only possible, it is an excellent part of a well thought out growth strategy."
The firms expect to finalize details of the integration this summer.
About Savant Capital Management
Savant Capital Management offers investment management, financial planning, and family office services to individuals, trust funds, retirement plans and non-profit organizations. Savant is regularly recognized among the top wealth managers in the United States. Savant was named the top independent advisor in Illinois by Chicago Magazine. Savant was named by Barron's magazine as one of the 100 best independent financial advisors in the United States for the last five consecutive years. For the past ten years, Savant earned a place on Bloomberg Wealth Manager's Top Wealth Managers list. Savant also was recognized as one of the nation's top 100 financial advisors by Worth magazine from 1997 through 2008; the survey was discontinued in 2009. Additionally, Financial Advisor magazine named the firm on their fastest growing Registered Investment Advisor list from 2006 to 2010, and on its list of top RIAs for the past three years. On the web at: www.savantcapital.com
About The Monitor Group, Inc.
Based in McLean, VA, The Monitor Group, Inc. is a nationally recognized wealth management firm providing portfolio design and management, tax planning and preparation, advanced estate and financial planning and sophisticated business and senior executive consulting services from the Washington, DC metropolitan area. The Monitor Group and its professionals have been recognized repeatedly as one of the best-managed firms in the nation in independent surveys. The Monitor Group professionals have been named repeatedly by Barrons, Worth, Medical Economics, Bloomberg and Washingtonian magazines as top advisors during the past decade. The firm's intellectual strength is evident, as the planning professionals as a group have authored more professional contributions to the Journal of Financial Planning than any other wealth management firm in the country. For nearly eight years and today, Glenn Kautt serves as a featured columnist for Financial Planning magazine. On the web at: www.TheMonitorGroup.com
Savant Capital Management. is a Registered Investment Advisor. This announcement is only intended for interested investors residing in states in which the Advisor is qualified to provide investment advisory services. Please contact the Advisor to find out if they are qualified to provide investment advisory services in the state where you reside. Savant's marketing material should not be construed by any existing or prospective client as a guarantee that they will experience a certain level of results if they engage the Advisor's services and includes lists or rankings published by magazines and other sources which are generally based exclusively on information prepared and submitted by the recognized Advisor. The Advisor does not attempt to furnish personalized investment advice or services through this publication. Past performance is no guarantee of future results.
SOURCE Savant Capital Management