The latest mergers, acquisitions and other corporate actions in the wealth management sector.

Savant Wealth Management, an RIA, has bought Sortino Advisory Partners, a Louisville, Kentucky-based, fee-only registered investment advisor with $239 million in assets under management and $135.7 million in assets under advisement. 

Savant did not disclose terms of the deal, which closed September 30.

Sortino’s principals Daniel J Hutcherson and Stephen A Heitz joined Savant as financial advisors, managing directors, and member-owners. 

Hutcherson, a US Marine Corps veteran and gerontologist with expertise in identifying and protecting vulnerable clients, has spent his career helping clients navigate complex financial planning and healthcare decisions. He also works with owners of closely held firms and chief executives on retirement, estate, and charitable planning, as well as aging care strategies.

Hutcherson, who co-founded Sortino Advisory Partners, holds an MS with distinction in translational health sciences from the University of Oxford, an MA in gerontology from the University of Southern California, and a BS in business administration in finance from the University of Louisville. Hutcherson also holds a number of professional accreditations. Heitz, who has a BA in economics from Bellarmine University, is an Accredited Investment Fiduciary® and a Chartered Retirement Plans SpecialistSM.

Savant has made three acquisitions in 2024, including California-based Kemp Financial, and Michigan-based BDK financial. The firm, which now has 42 offices in 17 states, has about $30 billion in AuM.