Savant Capital Management, a nationally recognized, fee-only wealth management firm, and Huber Financial Advisors, an independent wealth management firm, today announced that they will merge during the first quarter of 2020.
The combined firm will become one of the nation’s largest independent and privately owned fee-only Registered Investment Advisory (RIA) firms, increasing Savant’s assets under management (AUM) in the Chicagoland region to $3.1 billion and $8 billion overall, and employing over 200 people.
Huber Financial Advisors will adopt the Savant Capital Management name and branding after the integration, which is expected to finalize by March 31, 2020. The owners of Huber Financial Advisors will transition their current equity into Savant and several plan to increase their stake over time. In addition, several additional Huber Financial Advisors team members will become Savant owners at closing. Once combined, Savant will have over 70 employee owners and remain both employee-led and controlled. Savant will have broader employee ownership than nearly any other advisory firm in the industry.
Huber Financial Advisors’ leadership will integrate with Savant’s executive team and work together to realize a shared, long-term vision. In addition to working with clients, David Huber, CFP® will have an advisory role to Savant’s board of directors; Rob Morrison, CFP®, will be a member of Savant’s executive team; and Phil Huber, CFA, CFP® will become Savant’s chief investment officer.
To read the press release, click here.