The strategic combination of Savant Capital Management and The Monitor Group, one of the biggest in the registered investment adviser (RIA) industry, will give the new company more than 90 employees in nine offices in three states (Illinois, Wisconsin and Virginia). Savant Capital will be among the top 50 largest RIAs in total assets under management.
The combination of the firms will allow the two organizations to utilize best practices by leveraging their combined intellectual capital and expanding service offerings, and creating long-term and continued success for clients. Both organizations are fee-only financial planning and investment management firms with similar investment and planning philosophies, a fiduciary approach and corporate values.
The board of managers for Savant Capital is Thomas Muldowney, chairman and principal; Brent Brodeski, chief executive and principal; Richard Bennett, COO and principal; and Glenn Kautt, vice chairman and principal (previously president and chairman of The Monitor Group). Before the combination, Muldowney, Brodeski and Bennett were principals at Savant Capital Management.
The new Savant gains strategic advantages by combining The Monitor Group’s estate planning and tax preparation strengths with Savant Capital Management’s divisions, which serve investors who have $50,000 or more in assets. Savant Capital Management also has an institutional division that provides advisory services to 401(k) and company retirement plans, endowments, foundations and private trusts.
Savant Capital will be headquartered in Rockford, Illinois.