Savant, State Bank Team-Up Bringing Together Best in Fee-Only Wealth Management and Bank Trust Dep't Services
January 24 2007 - 12:22PM
PR Newswire (US)
Pairing of Illinois Firms is on Cutting Edge of Emerging National
Financial Trend; Two Fiduciaries Seek to Put the 'Trust Back Into
Trusts' for Clients ROCKFORD, Ill. and FREEPORT, Ill., Jan. 24
/PRNewswire/ -- Savant Capital Management of Rockford, IL, and
State Bank of Freeport, IL, a division of Foresight Financial Group
(OTC:FGFH.OB) (BULLETIN BOARD: FGFH.OB) , announced today that
their two organizations will start offering clients the best of
their wealth management and bank trust department services under
one roof and on a fee-only basis. The joint undertaking is the only
such formal partnership of its kind in Illinois known to
Savant/State Bank and one of only a handful so far announced
nationwide. The groundbreaking new partnership gives both State
Bank and Savant clients unique access to next-generation trust
services that includes the outstanding local service of State Bank
and the investment expertise of Savant, an award-winning financial
planning and wealth management firm with nearly $1.3 billion in
assets under management. The team-up of Savant and State Bank
bundles together a wide range of key trust and investment services
to provide truly objective fiduciary advice, an approach that is in
stark contrast to traditional trust companies that tend to promote
proprietary in- house investments and inconvenient "unbundled"
financial advisor and bank services that are often disjointed and
commission-driven. Brent Brodeski, managing director of Savant
said: "The shared mission of Savant and State Bank is clear: to
'put the trust back into trusts'. Peace of mind and family harmony
result from expert insight and integrated planning. The alliance
between State Bank and Savant Capital Management offers the best of
both. Our organizations have spent years advising individuals and
families on multi-generational strategies, designed to help them
make the most of their assets, enhance their quality of life and
achieve personal and financial goals. By pooling our efforts to
deliver a next-generation integrated trust and investment solution,
we are now taking the work of Savant and State Bank to a whole new
level." Doug Cross, president & CEO of State Bank said: "State
Bank is excited to begin this venture with a firm like Savant that
shares our goal of providing the best trust and investment services
available. We are pleased to offer these new services within the
comprehensive realm of products and services available within the
Foresight group of banks. We believe both our clients and Foresight
shareholders will benefit from our partnership with Savant and we
look forward to assisting our clients with their trust and
investment needs." Savant Principal and Financial Advisor Richard
A. Bennett said: "The advantages of breaking down the old barriers
between wealth managers and bank trust departments are many. By
offering a true open architecture solution devoid of proprietary
products, our clients can be confident they will get truly
impartial advice. What you end up with is an integrated team -- a
trust officer, an investment specialist, attorneys and other
professionals -- all coordinating with each other; all focused on
you and your family. Together, Savant and State Bank are on a
mission to bring simplicity, ease, clarity, confidence and
perspective to your family's financial matters." Troy Lessman,
director Trust and Investment Department of State Bank said: "State
Bank will benefit from Savant's vast investment expertise and their
impeccable reputation. Savant will benefit from being able to
provide fiduciary trust services to their current clients so as to
enhance and maintain investment relationships with multiple
generations of family. Savant and State Bank, along with all our
clients, will benefit from this venture, which should be the
cornerstone for a long and prosperous relationship." The State Bank
Trust Department will be staffed by Julie Morhardt and Troy
Lessman, who have over 30 years of collective experience in such
work. Morhardt will oversee the operational functions of the
Department; Lessman will handle sales and account administration.
State Bank's Trust Department will offer trust administration and
investment management, and additional services including IRA,
estate settlement, guardianship, estate & retirement planning,
but with a unique twist. Bank customers will have access to the
investment management capabilities, retirement and estate planning
services of award-winning Savant, which manages investments for
individuals, families, non-profit and retirement plan clients.
Under the seamlessly integrated arrangement, Savant clients will
likewise benefit from using the trust services offered by this
joint venture -- a capability much in demand from long-term Savant
clients. ABOUT SAVANT CAPITAL Savant
(http://www.savantcapital.com/) is an independent, fee-only wealth
management firm headquartered in Rockford, IL. Savant is regularly
recognized among the top wealth managers in the United States. For
the last six years, Savant has earned a place on Bloomberg Wealth
Manager's Top Wealth Managers List. Savant has further been
recognized as one of the nation's top financial advisors by Robb
Report Worth magazine each year since 1997. In 2003, Savant was
included in The Wealth Factor, a book profiling ten of the most
innovative and respected wealth management firms in the nation.
Since 2004, Savant has been selected by Medical Economics magazine
as one of the "Top 150 Financial Advisors for Doctors" in the
nation. Savant has also appeared on top advisor lists published by
JK Lasser's and The Family Wealth Alliance. ABOUT STATE BANK and
FORESIGHT FINANCIAL GROUP State Bank is a local community bank
committed to providing the highest quality service and targeted
competitive products. As a part of Foresight Financial Group
(OTC:FGFH.OB) (BULLETIN BOARD: FGFH.OB) , State Bank joins four
other banks (German American State Bank, State Bank of Davis, Lena
State Bank and Northwest Bank). Each bank is independently
chartered and governed by its own separate board of directors,
allowing for local, completely independent decisions. DATASOURCE:
Savant Capital Management, Rockford, IL; State Bank, Freeport, IL
CONTACT: Patrick Mitchell, +1-703-276-3266, , for Savant Capital
Management and State Bank; or Matt Armstrong of Savant Capital
Management, +1-815-227-0300, Web site:
http://www.savantcapital.com/
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