Mother-Daughter RIA Team Thrives Through Communication and Mutual Respect
Lois Basil and her daughter Hannah Basil Bryant, financial advisors at Savant Wealth Management’s Chicago Northcenter office, demonstrate how a family-run Registered Investment Advisor (RIA) business can succeed through clear boundaries and complementary skills. Lois, an experienced accountant, founded Basil Financial Group in 2011 after identifying a gap in fee-only financial planning services. Hannah joined the firm in 2015, bringing expertise in commercial lending and technology, eventually becoming a partner in 2021. The duo emphasizes the importance of separating professional and personal roles, with Hannah addressing her mother as 'Lois' in the workplace to maintain professional dynamics. They utilized a business coach to enhance communication and strategic alignment. In April 2023, their firm, which managed $75.5 million in assets, was acquired by Savant Wealth Management, marking a significant milestone in their journey. Their story highlights the benefits of intergenerational collaboration, blending Lois’s deep client relationship experience with Hannah’s drive for operational modernization. This Mother’s Day feature illustrates how trust, humility, and defined roles enable family members to build a resilient and impactful wealth management practice together.
Wire timeline
Mother-Daughter RIA Team Thrives Through Communication and Mutual Respect
Lois Basil and her daughter Hannah Basil Bryant, financial advisors at Savant Wealth Management’s Chicago Northcenter office, demonstrate how a family-run Registered Investment Advisor (RIA) business can succeed through clear boundaries and complementary skills. Lois, an experienced accountant, founded Basil Financial Group in 2011 after identifying a gap in fee-only financial planning services. Hannah joined the firm in 2015, bringing expertise in commercial lending and technology, eventually becoming a partner in 2021. The duo emphasizes the importance of separating professional and personal roles, with Hannah addressing her mother as 'Lois' in the workplace to maintain professional dynamics. They utilized a business coach to enhance communication and strategic alignment. In April 2023, their firm, which managed $75.5 million in assets, was acquired by Savant Wealth Management, marking a significant milestone in their journey. Their story highlights the benefits of intergenerational collaboration, blending Lois’s deep client relationship experience with Hannah’s drive for operational modernization. This Mother’s Day feature illustrates how trust, humility, and defined roles enable family members to build a resilient and impactful wealth management practice together.
InvestmentNews