Savant Wealth Management acquired registered investment advisor Corrigan Financial, based in Middletown, Rhode Island, on April 30.
This deal expands Savant's geographic footprint to 44 offices in 19 states. Terms of the deal were not disclosed.
Savant is a CPA-led, fee-only RIA based in Rockford, Illinois. It has 537 employees and is No. 1 on Accounting Today's Top 150 Firms by Assets Under Management list, with $29.6 billion in AUM and $1.2 billion in assets under advisement as of March 31. Savant offers investment management, financial planning, retirement plans and family office services to financially established individuals and institutions, as well as corporate accounting, tax preparation, payroll and consulting through its affiliate Savant Tax & Consulting, and estate planning document preparation and other legal services through its affiliated law firm, Savant Legal.
"The Corrigan team shares our values, particularly in the area of lifelong learning," Brent Brodeski, a CPA, founder and CEO of Savant, said in a statement. "It's important to note that the majority of Corrigan's financial planners hold the CPA license, given the importance of integrating tax planning into clients' financial plans and the current nationwide shortage of CPAs. In addition, Corrigan takes a like-minded approach to planning and investments that we believe will help Savant build density and improve more lives in the northeast,."
Corrigan is a 25-person, fee-only RIA with $1.15 billion in AUM. The firm offers personal financial planning, investment management, tax planning and estate planning services. It also prepares income tax returns for over 1,000 families. Corrigan's tax service offering will be incorporated into the Savant Tax & Consulting business line.
"Savant's tax focus was one of the major reasons we considered partnering with the firm, but we were also attracted to the firm's long-term vision, which can help benefit both our clients and our team," David Corrigan, a CPA, founder and principal shareholder of Corrigan, said in a statement. "Savant is a recognized leader among top CPA financial planning firms, and our shared commitment to comprehensive wealth management, including tax planning and preparation, made Savant a logical choice for our team."
Savant is 65% employee owned. Corrigan and 15 shareholders of Corrigan Financial became member-owners upon joining Savant at close.
