Savant Wealth Management to Acquire Michigan-Based AMDG Financial and AMDG Business Advisory Services
Transaction Marks Savant’s Entry into the Michigan Market; Furthers Commitment to a Culture of Excellence
- Brings additional support to its tax and consulting affiliate, Savant Tax & Consulting
- Furthers its position as one of the nation’s best-in-class firms for clients, team members, and owners
- Challenges the traditional mergers and acquisitions (M&A) approach in the registered investment adviser (RIA) industry to help make Savant – and the industry – better for clients
Savant Wealth Management, a nationally recognized, fee-only wealth management firm headquartered in Rockford, announced it has entered into an agreement to acquire AMDG Financial (FAS), a fee-only RIA serving nearly 300 clients, and AMDG Business Advisory Services (BAS), a tax and accounting firm. Both businesses are located in Plymouth, Michigan. The acquisition will expand Savant’s national footprint and mark the firm’s formal entry into the Michigan market. In addition, the deal challenges the conventional M&A approach by demonstrating Savant’s commitment to building a culture of excellence and growth, as well as its desire to partner with firms interested in growing, addressing succession planning needs, and enhancing the value proposition they offer to clients, team members, and the communities they serve.
In 2019, Savant announced a proactive and innovative approach to RIA acquisitions, assembling a team of seasoned M&A leaders to assist with its acquisition strategy and goal of improving a million lives in 25 years. This innovative M&A approach, combined with a unique capital structure, has enabled Savant to sustain a competitive advantage in securing lasting partnerships with firms seeking an alternative to RIA aggregators and short-term “roll-up” firms backed by private equity.
“Unlike traditional M&A approaches, Savant seeks partnerships that blend culture, talent, and expertise to make us – and the RIA industry – better,” said Brent Brodeski, CEO of Savant. “AMDG Financial is a prospering independent RIA with a focus on integrating tax, financial and investment strategies with AMDG Business Advisory Services. The firm’s founding partner, Wayne Titus, CPA/PFS, AIFA®, shared with us AMDG’s vision to provide additional resources to clients and growth opportunities to employees. We were impressed by AMDG’s talented team and commitment to clients and knew a partnership could benefit all of our clients, Savant and AMDG.”
“In talking with Brent and others at Savant, we realized we share common core values and cultures, as well as investment and client service philosophies,” said Titus. “Joining Savant also appeals to our vision of being impactful to our community by expanding our reach as well as the types of services we can provide to our clients, such as in-house estate planning and trust services.”
With assets under management of nearly $250 million, AMDG Financial has served the greater Detroit area along with AMDG Business Advisory Services since 2002. The firms’ employees join Savant’s team of more than 200 employees, with AMDG’s five equity partners joining as owners. Savant serves more than 6,500 clients and manages $10.5 billion in assets.
“Savant’s M&A philosophy is different from the transactional deals you typically see throughout the RIA industry,” said Kevin Hrdlicka, chief operating officer and the M&A integration process lead at Savant. “This is intentional as we seek partners with new perspectives and areas of expertise that complement our work. We don’t want to be known as the biggest RIA. We want to be known as the best RIA in the nation.”
About AMDG FAS-BAS Holdings
AMDG FAS-BAS Holdings owns AMDG Financial, a fee-only fiduciary RIA, and AMDG Business Advisory Services PLC, a tax and accounting firm providing tax preparation, payroll and bookkeeping services. AMDG Financial manages approximately $250 million in assets for clients, and was one of the first 10 firms globally to be certified by the Centre for Fiduciary Excellence¹ (www.cefex.org/advisor) as following global best practices for investment advisor fiduciaries. The companies’ credo is, “From financial wisdom, better stewardship.”