BKD Wealth Advisors (BKDWA) and DHG Wealth Advisors (DHGWA) have merged, effective today, to form FORVIS Wealth Advisors, a registered investment advisory firm. The new combined entity will serve clients across the country under the name FORVIS Private Client.
FORVIS Wealth Advisors is a wholly owned subsidiary of FORVIS, top 10 public accounting firm created from the merger of equals of BKD and DHG. That merger also is effective today.
FORVIS Wealth Advisors will have a presence in 23 cities in 12 states and a portfolio of more than $7.7 billion in assets under management and $1.5 billion in assets under advisement, as of March 31, 2022. It will provide wealth management services to high-net-worth individuals and families, businesses and foundations.
Steve Toomey has been named managing partner and president of FORVIS Wealth Advisors and Will Sneed has been named executive vice president. Toomey spent 20 years with BKDWA prior to the FORVIS merger. Sneed spent more than 15 years with DHGWA prior to the merger. Jeff Layman will serve as chief investment officer after spending 22 years in a similar role for BKDWA.
“This merger gives clients access to a deepened pool of wealth management expertise, and the connection to our parent firm, FORVIS, provides clients access to a broad array of tax, accounting, and advisory services as well,” said Toomey. “We’re extremely excited about the resources we can bring to bear for our clients as a combined entity.”
“Our passion to bring financial clarity and peace of mind to high-net-worth individuals and families, businesses, and foundations remains the same,” Sneed said. “We are more committed than ever to bringing our multidisciplinary team approach to the table with innovative and forward-thinking ideas to help our clients solve their complex financial issues and achieve their life goals.”
The merger also creates exciting opportunities for career growth and mobility among FORVIS Wealth Advisors team members across the country, Toomey said, which will help continue to attract and retain top talent in a highly competitive field.
“As we grow, we will attract even more of the best talent in our field, which helps all of our team members grow and learn—and ultimately benefits our clients as we work to help them meet their wealth management goals,” said Toomey. “Our clients and our people benefit tremendously from this growth.”