Savant Wealth Management, a fee-only registered investment adviser RIA, announced the acquisition of veteran-owned Sortino Advisory Partners, a Louisville, Kentucky-based fee-only RIA with $239 million in assets under management and $135.7 million in assets under advisement. Savant did not disclose the terms of the deal, which closed on September 30.
Sortino Advisory Partners’ principals, Daniel J. Hutcherson, CAIA, CIMA, AIFA and Stephen A. Heitz, AIF, CRPS, joined Savant as financial advisors, managing directors, and member-owners. Hutcherson, a U.S. Marine Corps veteran and gerontologist with expertise in identifying and protecting vulnerable clients, has spent his career helping individuals and families navigate complex financial planning and healthcare decisions.
Along with financial planning, Heitz works with closely held business owners and senior executives on the intricacies of retirement, estate, charitable planning, and aging care strategies.
Hutcherson, who co-founded Sortino Advisory Partners, holds an M.S. with distinction in translational health sciences from the University of Oxford, an M.A. in gerontology from the University of Southern California, and a B.S. in business administration degree in finance from the University of Louisville. And he is a Chartered Alternative investment Analyst Charterholder, a Certified Investment Management Analyst, and an Accredited Investment Fiduciary Analyst. Heitz, who holds a B.A in economics from Bellarmine University is an Accredited Investment Fiduciary and a Chartered Retirement Plans Specialist.
Savant made three acquisitions this year 2024, including California-based Kemp Financial, and Michigan-based BDK financial. Now the firm has 42 offices in 17 states.
KEY QUOTES:
“We recognize that clients and their families experience many kinds of life events and stages with the potential to upend their financial, physical, and mental health. Savant’s business model enables us to partner with firms with specialized knowledge to support our team approach to working with clients. Danny and Stephen are qualified to help clients navigate issues like the financial strain of caring for elderly parents, the need for personalized solutions, and the emotional toll that caregivers undergo as they support aging family members.”
— Brent Brodeski, CPA, CFP, CFA, MBA, founder and CEO of Savant Wealth Management
“We were impressed by Savant’s desire to curate a deep bench of multi-disciplinary specialists who can help advisors guide clients through especially challenging life transitions and events, like caring for older parents.”
— Stephen Heitz
“Most families go through these critical life experiences without the tools and resources they need to make informed decisions. Savant is committed to going beyond surface-level knowledge to help bring a deeper, personalized support offering to client families during these transitions.”
— Daniel Hutcherson
