Savant Capital Management Review
Savant Capital Management is a large financial advisor firm headquartered in Rockford, Illinois with almost $6.8 billion in assets under management (AUM). Its 62 advisors have a range of certifications and work personally with both individual and institutional clients. The firm’s services include retirement planning, investment management, estate planning and more. It offers financial consultation services to both asset management clients and those who don’t have accounts at Savant.
Savant is a fee-only firm which means that the entirety of the firm’s compensation comes from client fees. This avoids the conflicts of interest that can arise at a fee-based firm, where advisors may earn commissions from security or insurance sales.
Savant Capital Management holds a number of advisory accolades. In 2018, Barron’s named Savant one of the top 40 registered investment advisory (RIA) firms in the U.S. The Financial Times also recently named the firm one of its 300 best RIAs for the sixth consecutive year.
Savant Capital Management Background
Savant Capital Management’s history stretches back to 1986, and the firm began offering investment advisory services in 1993. It’s owned by SCMI, Inc., a financial services holding company. Brent Brodeski currently leads the firm as CEO. He has over 20 years of industry experience.
The advisory team at Savant Capital Management holds a number of advisory certifications, including chartered financial analysts (CFAs), accredited investment fiduciary analysts (AIFAs), certified public accountants (CPAs) and chartered retirement planning counselors (CRPCs), among others.
What Types of Clients Does Savant Capital Management Accept?
Savant Capital Management takes on a number of different client accounts, though most belong to individuals and high-net-worth individuals. More specifically, it manages around 3,000 individual accounts and 1,500 high-net-worth individual accounts. Savant Capital Management also manages money and investments for pension plans, charitable organizations, businesses and other investment advisors.
Savant Capital Management Minimum Account Size
Typically speaking, anyone looking to open a Savant Wealth Management Services account here will need to have at least $500,000 in investable assets. While Savant Capital Management may occasionally accept clients with less than $500,000, they will be subject to a $5,000 minimum annual fee. This may be cost-prohibitive for clients with lower account sizes.
One exception to the above is the Savant Accelerator Program, which is focused on younger investors who haven't yet hit the $500,000 minimum. For investors in this program, there’s a minimum annual fee of $2,500 for the first year of account ownership. Every year after that, the minimum fee will raise by $750 until it hits the $5,000 cap. Clients with less than $250,000 in investable assets may find this requirement to be cost prohibitive.
There’s a $900 minimum annual fee for Savant’s Portfolios Program. Because the maximum fee rate for this service is 1.50%, clients with fewer than $60,000 in investable assets may find this charge to be cost prohibitive.
Services Offered by Savant Capital Management
For those looking to invest their money with Savant Capital Management, there are three program options. You’ll receive financial advising indefinitely with each of these programs, as long as you continue to hold your money with Savant.
- Savant Wealth Management Program: This program is Savant’s most comprehensive, offering financial planning, investment management and other services to financially established individuals.
- Savant Portfolios Program: This is reserved for individuals who don’t meet the requirements of the Wealth Management Program. In turn, the Portfolios Program provides more limited services and investment advice.
- Savant Accelerator Program: This exclusive service is reserved only for younger, more aggressive savers who don’t have enough ready to invest for either the Wealth Management Program or the Portfolios Program.
If you’re looking for financial advice, but aren’t planning on maintaining an account at Savant, there are several financial consulting services that the company offers on a one-off basis. Most of these services are available to asset management clients at no extra cost.
- Financial goal planning
- Retirement planning
- Asset protection
- Risk management and insurance planning
- Debt management
- Education planning
- Income tax planning
- Investment planning
- Estate planning
- Business succession planning
- Charitable gift planning
Savant Capital Management Investment Philosophy
Savant Capital Management takes a comprehensive view of its clients’ finances. The firm’s financial advisors aim to refine, streamline and integrate your financial planning, investment and tax needs into one holistic portfolio. Your team will propose the best structures and strategies to help you meet your financial goals. It also places a significant emphasis on low trading costs, tax efficiency and independence from outside influences.
Financial planning with Savant includes crafting investment plans. It uses a system of evidence-based investing to avoid unnecessary risk and to help you generate positive returns by keeping an objective outlook on investment opportunities. Its goal is to help you craft the most effective portfolio and to check back over time to ensure that you’re continuing to meet your goals. You can also elect to have your investment portfolio managed with a social value or sustainability objective in mind, at no extra cost.
Fees Under Savant Capital Management
Savant Capital Management is a fee-only advisory firm. Its wealth management clients are charged an annual fee between 0.50% and 1.00% of their AUM, with the minimum fee being $5,000. Portfolio Program clients are charged an annual fee between 1.00% and 1.50% of their AUM, but the minimum fee is a far more modest $900.
Clients with assets in the Accelerator Program are charged an annual fee of either 1.00% of their AUM or rates equal to those in the fee schedule below, whichever is greater.
|Accelerator Program Portfolio Management Fees|
|Year in Program||Minimum Annual Fee|
The fees associated with the firm’s financial planning services are calculated differently. For those without AUM at Savant, you’ll have to pay for specific services on an hourly or flat-rate basis. For retirement services, you’ll pay a retainer based upon your total assets.
Opening an Account With Savant Capital Management
If you’d like to open an account with Savant Capital Management, you can go to the firm’s website and submit a “Request a Consultation” form. For a more direct approach, call Savant at (866) 489-0500 or visit any of its 15 office locations.
Where Is Savant Capital Management Located?
Savant Capital Management is headquartered in Rockford, Illinois at 190 Buckley Drive. There are 10 other offices located around Illinois, two offices in Wisconsin and one office in both New Mexico and Virginia. Your proximity to a Savant Capital Management location won’t impact your ability to open an account.
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