The firm has been making a number of acquisitions recently, with the latest move marking Savant’s fourth acquisition of 2024.

Rockford-headquartered Savant Wealth Management, a fee-only registered investment advisor, has just acquired woman-owned Source Financial Advisors, a New York-based boutique RIA with $536 million in assets under management.

Savant did not disclose the terms of the deal, which closed in December.

Led by Michelle Smith, Source Financial Advisors serves high net worth women who have experienced or are going through divorce, the firm said in a statement. It also counts business owners and executives among its clientele. The firm offers a financial education program, Wife2CFO, in which divorced or divorcing women receive coaching, guidance, and tools designed to help them plan their financial futures.

Smith is joining Savant as a managing director, financial advisor, and member-owner. Lauren Lisbon, a relationship manager and family office services specialist, is joining as an associate advisor. Megan Benner, chief compliance officer and client services specialist, is now a member of the Savant client services team, the firm added. Sean Smith, marketing director, is assuming the role of transition consultant, and AnnMarie Broughton, director, and forensic accountant, is now an accounting manager at Savant Tax & Consulting, the firm said. 

The acquisition forms part of Savant’s strategy to grow the firm’s specialized client offerings. In November, Savant acquired Louisville, Kentucky-based Sortino Advisory Partners, whose principals specialize in gerontology and help clients manage the financial and emotional issues related to aging. It also recently bought Kemp Financial Management, an RIA based in Fullerton, California, with about $255.2 million in assets under management, and BDK Financial Services of Brighton, Michigan, with approximately $52.4 million in AuM. 

“Our goal in acquiring these specialty firms is to provide our clients with best-in-class advice and recommendations that will make a more meaningful difference in their lives,” said Brent Brodeski, founder and CEO of Savant Wealth Management.

“Throughout my career, I’ve been committed to helping women understand their financial options as they navigate divorce, and I’m looking forward to helping Savant grow even stronger in this area,” Smith added. “When the team at Savant shared the firm’s vision to improve the lives of one million people, I knew we shared similar values and goals. I’d love to help a million women, and with the scale Savant can provide, I believe we are well-positioned to grow together.” 

Source Financial Advisors is Savant’s fourth acquisition of 2024 and marks the firm’s entry into New York state. The firm now has 43 offices in 18 states, with about $28.6 billion in assets under management and $1.2 billion in assets under advisement.