The Capital Directions Team is excited to announce that we will soon become part of Savant Wealth Management, a full-service, SEC Registered Investment Advisor, fiduciary wealth management firm based in Rockford, Illinois.
We estimate that the closing of this acquisition will take place on or about February 22, 2023.
What Can You Expect?
With the start of 2023, we’re reminded that the new year always brings new opportunities. At Capital Directions, we’re particularly excited to announce a unique opportunity— one that will strengthen our team and give us more resources to meet all your future financial planning and investment needs.
Capital Directions will soon become part of Savant Wealth Management, a full-service, SEC Registered Investment Advisor and fiduciary wealth management firm based in Rockford, Illinois and founded in 1986. Savant currently has teams in twenty offices across nine states. We anticipate officially combining with Savant on or about February 22, 2023.
Ever since our founding in 1985, Capital Directions has been committed to placing our clients’ interests first in every decision we make — and remaining independent has allowed us to provide the best advice, resources, and value to our clients through the years. Recently, however, we felt the need to do more and take our service to you to a new level – to provide you with access to a much deeper bench of services; such as a trust company, tax planning and estate planning while making significant investments in technology that provides clients with more clarity on their financial picture. That’s when we approached Savant Wealth Management.
Capital Directions’ CEO, Dennis Covington, has known Savant co-founder and CEO Brent Brodeski for 15 years. From the beginning of our relationship we have always been impressed with Savant’s client-focused approach and positive culture.
Our two firms have much in common — the same core values, the same fee-only structure, the same investment philosophy, the same unblemished reputation and a shared partner in Charles Schwab as our primary custodian.
After meeting with and getting to know more of the Savant team over these past six months and completing extensive due diligence on Savant’s business, culture and investment philosophy, we decided to combine with Savant. This combination represents a great opportunity to enhance our capabilities as well as our range of services.
The bottom line: joining with Savant gives Capital Directions more resources and capabilities to continue doing what we do best. As we finalize our agreement over the next month, we will work to seamlessly transition our clients and employees to the new company. You can rest assured that there will be no changes to our service model, fees, or your investments and custodial accounts (i.e., Schwab).
You’ll continue to work with the same Atlanta-based team that currently serves you — right around the corner in our Sandy Springs location where we’ve always been. If you have any questions about our new relationship with Savant, don’t hesitate to give us a call or stop by for a visit.
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Frequently Asked Questions
Why did you decide to partner with Savant?
Our decision to join Savant evolved from our desire to serve our clients’ future needs with best-in-class financial planning services related to their changing life stages. Because Capital Directions is prospering, we had the choice to remain independent and maintain the status quo. However, after months of conducting due diligence and weighing the potential benefits to both our clients and our team, we felt that Savant presented the best opportunity for us to better serve our clients well and positively impact more lives.
Who owns Savant?
Savant is privately held, and majority owned by employee-owners. Upon the closing of our transaction with Savant, Capital Directions’ existing shareholders – Dennis Covington, Terry Hartigan, John McMillen, and Richard O’Donnell will become employee owners. Dennis will be the second largest employee-owner of Savant. We anticipate that several younger members of our team will also have the opportunity to become employee-owners in the near future.
Where will my investments be held?
Your investments will continue to be held in your current custodial accounts (i.e., Schwab). The merger with Savant will not change your account number(s) or online access credentials at the custodian. We anticipate little to no change in your actual investments and will only recommend changes that are in your best interest and work to support the achievement of your financial plan.
What kind of investments does Savant use?
Savant shares Capital Directions’ evidenced-based investment philosophy that is implemented primarily using low-cost mutual funds and exchange traded funds. Like Capital Directions, Savant has access to the same institutional investment opportunities that we utilize. In addition, Savant is also able to provide expertise and strategic advice when handling an executive client’s concentrated employer stock position and is currently building out offerings in the direct indexing.
How is the investment strategy determined at Savant, and how often could it change?
Savant has an investment committee made up of 8 professionals that meets regularly to discuss investments. The committee screens and selects investments for particular investment categories (such as domestic large-cap growth) and may adjust or remove investment categories. In addition, the committee sets criteria for rebalancing and reviews macro-economic and regulatory issues, such as risk assessment related to potential geo-political events, tax-law changes, and the like.
Who will I work with after Capital Directions joins Savant?
The Capital Directions’ team members you currently work with will not change. You will gain access to Savant’s larger group of subject-matter experts for issues like estate planning, trusts, and tax planning. Our entire Atlanta-based team will continue to operate at our current office location in Sandy Springs, GA.
Will my fees increase?
No, your fees will remain the same for the foreseeable future. If your investments change, there may be higher or lower costs associated with those investment vehicles.
How does Savant get paid?
Like Capital Directions, Savant is a fee-only, fiduciary, SEC Registered Investment Advisor and does not sell financial products and does not receive fees from third parties. Clients pay Savant directly for advice and other services.
Savant’s billing and reporting is very similar to Capital Directions. Once the transactions close, you will receive your first quarter report from Savant in April. Savant will debit quarterly advisory fees in April as well.
Will I have online access to my accounts?
Yes, Savant utilizes the same portal technology as Capital Directions. There will be no change to your access credentials at your custodian (i.e., Schwab).
Who will provide the year-end tax report for my accounts?
You will continue to receive an accurate year-end statement and 1099 tax report from your custodian(s), (i.e. Schwab). Your advisor and client service representative will also continue to provide tax planning information consistent with prior years.
Will my investment accounts be managed on a discretionary basis?
Yes, like Capital Directions, Savant manages all accounts on a discretionary basis. Additionally, your current advisor will continue to provide advice around your personal investment needs. Capital Directions’ portfolio management team is transitioning into Savant’s and will continue to rebalance your portfolios, raise cash to meet distribution needs and tax-loss harvest as necessary and in accordance with your Investment Policy set by your advisor. Also, Savant’s investment research team and investment committee monitor the performance of each investment in the models. These committees may, from time-to-time, substitute other investments that could enhance the performance of the model.
Will there be any tax implications from my transition to Savant?
No, this transition will not create any tax event for your portfolio / account(s). While your custodian account(s) (i.e., Schwab) will remain the same, they will be managed by Savant. We will continue to manage your accounts with your best interest in mind.
How do I withdraw money from or add money to my account?
Simply contact our office as you normally would do so.