In June 2012, Glenn Kautt, a Financial Planning columnist and vice chairman of Savant Capital Management, based in Rockford, Ill., experienced a merger firsthand. His old firm, the Monitor Group, based in McLean, Va., combined with Savant Capital Management. Since then, he says many people have asked him, “How’s it going?"
His answer: Most of the integration has gone as expected, but there have been some surprises. Read Kautt’s latest column in Financial Planning’s September issue to learn more.
Robert Glovsky, a financial advisor at the Colony Group, based in Boston, has experienced similar challenges. He merged his prior firm, Mintz Levin Financial Advisors, with the Colony Group on July 1, 2012, and has overseen the integration process over the past 14 months.
Here is advice from both Kautt and Glovsky on how other advisors can minimize (or eliminate) bumps along the road when it comes to merging advisory companies.