Savant Wealth Management Enters Maine with Acquisition of Richard Brothers Financial Advisors

Savant Wealth Management has expanded its Northeast presence by acquiring Richard Brothers Financial Advisors, marking the firm's first entry into the Maine market. The deal adds a nine-person team and approximately $240.4 million in assets under management to Savant’s growing national footprint. This acquisition represents Savant's fourth deal since March, highlighting the firm's aggressive consolidation strategy within the fee-only RIA sector.

Savant Wealth Management, a fee-only RIA, has partnered with South Portland-based Richard Brothers Financial Advisors, establishing its first physical presence in Maine. Founded in 1996 by Randall and Neal Richard, the acquired firm manages approximately $240.4 million in assets under management and consists of a nine-person team. The transaction brings Savant’s total footprint to 70 offices across 28 states. Randall and Neal Richard will join Savant as member-owners, while the South Portland office will continue to operate from its existing location with its current staff.

Richard Brothers built its practice around a "Whole Picture Planning" philosophy that integrates investment management, retirement, tax planning, and risk management into a unified strategy. This approach is designed to assist business owners navigating sales or transitions, as well as families and executives throughout Maine. Savant CEO Brent Brodeski emphasized that the Richard Brothers team’s specialty in guiding business owners through transitions adds significant depth to Savant’s regional capabilities. Randall Richard noted that the decision to join Savant was based on an alignment of values and the breadth of resources the larger firm provides to clients.

This acquisition marks Savant’s fourth deal since March, continuing a prolific run of consolidation for the firm during its 40th year in business. Other recent additions include Meridian Wealth Advisors in New Mexico, North Ridge Wealth Advisors in Oregon, and Desmond Wealth Management in California. As of June 30, Savant reported approximately $55.7 billion in assets under management and $1.5 billion in assets under advisement. These strategic moves underscore Savant's commitment to expanding its fee-only model and integrated wealth and tax planning services across the United States.