Savant Wealth Management Acquires Delaware-Based Raymond F. Book & Associates and Wealth Management Group
Affiliated firms add both Tax & Accounting and Wealth Management Service
Savant Wealth Management, a nationally recognized, fee-only registered investment advisor (RIA), announced it has acquired Dover, Delaware-based Raymond F. Book & Associates, P.A., and its affiliated fee-only RIA, Wealth Management Group, LLC, which has assets under management (AUM) of $376.3 million as of 6/30/23. The partnership, which closed on July 19, 2023, brings Savant’s combined tax and accounting team to nearly 100 tax and accounting professionals. In June, Savant topped Accounting Today’s 2023 Wealth Magnets list, which ranks CPA firms by AUM.
Raymond F. Book & Associates offers comprehensive tax and accounting services, assistance to business start-ups, management advisory services, and tax-related estate and trust services. The partners of Raymond F. Book & Associates founded its affiliated RIA firm in 2001 to help satisfy a need for financial advisors who could implement the firm’s tax-efficient strategies for clients and monitor and make changes as needed.
“Partnering with Savant will help us accelerate our growth, and provide our clients additional resources, such as estate planning and trusts,” said Scott Brown, CPA/PFS, managing partner of Wealth Management Group. “Savant is also a great cultural fit for our firm, with core values and a mission similar to our own.”
“One of the factors that attracted us to Savant was that it fully embraced partnering with both our accounting and wealth management businesses,” said Ronald P. Vascik, Jr., CPA, managing partner of Raymond F, Book & Associates. “Savant understands the importance of integrating tax, financial and investment services to provide a holistic experience to clients.”
“Unlike many acquirers in our arena, Savant is unique because we are interested in partnering with more than just the wealth side of the business,” said Brent Brodeski, CPA, CFP®, CFA®, MBA, CEO of Savant Wealth Management. “Our partnership with these two sister firms further solidifies Savant’s commitment to being the leading integrated wealth management, tax and accounting firm. This is the third combo RIA/CPA firm we have acquired and the fourth accounting firm.”
A total of 26 employees are joining Savant as a result of the acquisition from the two businesses. Of these, seven will become member-owners in Savant, bringing Savant’s total number of employee owners to 136, and total number of employees to 464.
In 2023, Savant has expanded its footprint to include offices in Atlanta, Georgia, Wellesley, Massachusetts, Lancaster, York, and Wyomissing, Pennsylvania, and Columbia, South Carolina, as well as in Dover, Lewes, and Middletown, Delaware. In total, Savant, headquartered in Rockford, IL, has 35 offices in 13 states, and expects to make additional acquisitions this year.
2023 Accounting Today Billion-Dollar Wealth Magnet: This annual ranking published in June 2023 includes the top CPA financial planners that have a wealth management/financial planning practice based on assets under management. Savant did not pay a fee to be included in this ranking. Please review detailed report here.
Savant is a registered Investment advisor. Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Neither rankings and/or recognitions by unaffiliated rating services, publications, media, or other organizations, nor the achievement of any professional designation, certification, degree, or license, or any amount of prior experience or success, should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Savant is engaged, or continues to be engaged, to provide investment advisory services. Please read our Important Disclosures at savantwealth.com.