Atlanta financial firm with $3.3B under management gets acquired
The acquisition is the largest to-date for Savant Wealth Management.
According to a press release, Rockford-based Savant Wealth Management purchased Capital Directions LLC. This is Savant's largest acquisition to date. This move will expand Savant's reach to 10 states and 26 offices. After the deal closes, Savant's AUM will rise to $18 billion. Filbrandt Wealth Management, a Madison-based firm with $1.8 billion AUM, was also acquired by the firm. According to the website, Savant is an investment advisor registered with more than 325 employees in offices throughout Arizona, Illinois and Indiana. Dennis Covington (CEO of Capital Directions) stated that he and his team have had success growing their business. He could have opted to continue the path. Capital Directions was established in 1985 and is the 24th largest financial planning and advisory company in Atlanta, based on AUM according to research by Atlanta Business Chronicle.