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Savant Capital Management, Huber Financial Advisors to merge

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Savant Capital Management, Huber Financial Advisors to merge

Savant Capital Management and Huber Financial Advisors LLC plan to merge during the first quarter.

The deal will increase Savant Capital Management's assets under management to $3.1 billion in the Chicago area and $8 billion overall. Huber Financial Advisors will adopt Savant Capital Management's name and branding after the integration, expected to be finalized by March 31.

Owners of Huber Financial Advisors will transition their equity into Savant Capital Management, and several of them plan to increase their stake over time. Additional Huber Financial Advisors team members will become Savant Capital Management owners at the deal's closing. Once combined, Savant Capital Management will have more than 70 employee-owners and remain employee-led and controlled.

Huber Financial Advisors' leadership will integrate with Savant Capital Management's executive team. David Huber will have an advisory role to Savant Capital Management's board, Rob Morrison will become a member of the executive team and Phil Huber will become Savant Capital Management's chief investment officer.

Financial terms of the deal were not disclosed.