ROCKFORD, Ill. (May 2, 2023) – Savant Wealth Management, a nationally recognized, fee-only registered investment advisor (RIA), has acquired Chicago-based Basil Financial Group, a women-owned, fee-only RIA firm with three employees and $75.5 million in AUM, and Paragon Financial Advisors, a Columbia, S.C.-based fee-only RIA firm with two employees and $84.1 million in AUM. Both acquisitions closed on Apr. 30, and Savant did not disclose the terms of either transaction.
Basil Financial Group, led by Lois Basil, CFP® and Hannah Bryant, CFP®, further expands Savant’s presence in the Chicago area and becomes the firm’s 13th Illinois office. “We had been unable to accept new clients since 2021 due to capacity constraints,” said Lois Basil, who will also be a member owner at Savant. “Partnering with Savant provides our firm an extensive suite of resources we need to serve both new and current clients alike, with a personalized, high-quality experience they deserve and expect. Additionally, Savant is providing opportunities for all of our team members to do what they are best at,” she said.
Paragon Financial Advisors becomes Savant’s first office location in South Carolina. Paragon had previously used the turnkey asset management program (TAMP) offered by Atlanta-based Capital Directions, which joined Savant in Feb. 2023.
“When Capital Directions made the decision to partner with Savant, we also decided to explore what Savant had to offer,” said Mark Zion, EA, CFP®, principal of Paragon Financial Advisors. “We learned that Savant’s additional resources could benefit not only our clients, but also our team members.”
“These two firms share Savant’s commitment to growth and excellence,” said Brent Brodeski, CPA, CFP®, CFA®, MBA, Savant’s founder and CEO. “Joining our firm enables these smaller RIAs to provide their clients with a broader array of services, improved technology, and a stronger value proposition that includes better negotiating power to keep investment fees lower,” he added.
Basil and Paragon mark Savant’s second and third acquisitions of 2023. Savant now has 28 offices in 11 states, and more than 400 employees.
About Savant Wealth Management
Savant Wealth Management is a leading independent, nationally recognized, fee-only firm serving clients for over 30 years with approximately $18 billion in assets under management and assets under advisement (as of 3/31/2023). As a trusted advisor, Savant Wealth Management offers investment management, financial planning, retirement plan and family office services to financially established individuals and institutions. Savant also offers 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 LLP.
Savant is a registered Investment advisor. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Please read our Important Disclosures at savantwealth.com.