Savant Wealth Buys $239M AUM KY-based Sortino Advisory Partners

Savant Wealth Management announced that it has acquired Louisville, KY-based fee-only wealth management firm Sortino Advisory Partners, adding $375M in client assets and marking its third acquisition for 2024.

Savant did not disclose financial terms of the deal, which closed September 30, for Sortino, which has $239M in AUM and $135.7M in assets under advisement.

The firm is led by co-founders Daniel Hutcherson and Stephen Heitz, who will both assume the position of managing director at Savant. Prior to founding Sortino, Hutcherson worked as an advisor at Morgan Stanley, Merrill Lynch, and UBS, while Heitz co-founded Sortino with Hutcherson after more than a decade at Morgan Stanley.

Savant most recently acquired Fullerton, CA-based Kemp Financial Management and Brighton, MI-based BDK Financial Services in September, adding more than $300M in assets under management in the deals.

Source: https://savantwealth.com/press-room/savant-wealth-management-acquires-sortino-advisory-partners/