Savvy Advisors Jumps to $1.5B AUM With 5 AdditionsSavvy Advisors Jumps to $1.5B AUM With 5 Additions

Savvy Advisors, the registered investment advisor arm of platform provider Savvy Wealth, has added another $500 million in assets under management in just under four months.

The growth to $1.5 billion in total AUM comes from onboarding five advisors, including a 20-year Morgan Stanley veteran and a consultant turned financial advisor.

Savvy, founded by tech entrepreneur Ritik Malhotra in July 2021, has leaned into using artificial intelligence to speed workflows, client interaction and investment management for RIAs.

That pitch, in part, drew 23-year Morgan Stanley trader Jack Fitzpatrick, based in Scottsdale, Ariz.

Fitzpatrick left a career trading in foreign exchange and commodities to become an RIA in 2020. His focus area is business owners and executives, providing financial planning strategies and tax reduction solutions for business exits. 

Tyson Lokke, based in Reno, Nev., left RIA Farther to join Savvy. He previously worked at United Capital and then Goldman Sachs after its acquisition. He works with business owners and PGA professionals; he also likes to convert financial data into interactive visuals for clients.

In addition, Aaron Peloquin, a consultant turned financial advisor, will join Savvy in Plymouth, Minn.

Savvy has also recruited Jared Tanimoto in Irvine, Calif., with his Sedai Wealth Partners practice, which is focused on tech employees, tax planning for small businesses, and integrating cryptocurrency into portfolios. He was a founding member of the Investopedia Advisor Council, which contributes expertise to editorial content.

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Finally, Dustin Thomas will join Savvy in Indianapolis after six years at Valeo Financial Advisors and 24 years working in financial services.

This February, New York-based Savvy hired Eric Hurkman, formerly of valuation software startup Carta, as chief technology officer, a newly created role, to expand its product and engineering teams and innovate in areas such as artificial intelligence integration.