116 3rd St SE
Cedar Rapids, Iowa 52401
Terry Lockridge and Dunn acquired by wealth management company
It and World Trend Financial investment now part of an Illinois wealth management adviser
Oct. 6, 2022 2:07 pm, Updated: Oct. 6, 2022 3:12 pm
CEDAR RAPIDS — World Trend Financial investment advisers and Terry Lockridge and Dunn business consultants, both based in Cedar Rapids and with offices in Iowa City, have been acquired by Rockford, Ill.-headquartered Savant Wealth Management.
Financial terms of the deal were not disclosed.
“A key part of our growth strategy includes attracting strong firms with top-tier talent that can help add value immediately,” Brent R. Brodeski, CEO and founder of Savant, a registered investment adviser, said in a news release.
“World Trend Financial is a key wealth management player in Iowa, and Terry Lockridge and Dunn will immediately help to strengthen our tax and consulting offering to our wealth and business owner clients.”
Both companies were founded by Tim Terry — his namesake company in 1978 and World Trend in 1991. Terry, also an occasional guest columnist for The Gazette’s business section, died in October 2021.
World Trend has $730 million under management, according to the release.
World Trend Financial and Terry Lockridge and Dunn add 37 employees to Savant, including 13 who will become member-owners, the company said. That brings Savant’s total number of employees to 318, and member-owners to approximately 112.
Savant, with more than 20 offices, reported it has some $12.4 billion in assets under management and assets under advisement.