Fervent Wealth Management purchases former Mercy clinic

A 4-year-old Springfield-based financial advisory firm plans to move to larger accommodations this summer following the purchase of a former Mercy clinic.

Fervent Wealth Management LLC plans to close today on its purchase of a family medicine clinic building at 2730 E. Sunshine St. owned and formerly occupied by Mercy Springfield Communities, said Richard Baker, the firm’s CEO and executive wealth adviser. Baker declined to disclose the building purchase price but said his firm will occupy 6,500 square feet of the roughly 11,000-square-foot facility. The remainder will be leased out, he said.

“We are just wanting to continue to expand,” Baker said of Fervent Wealth Management, which launched in December 2021. “We just want to become a bigger force. We’re committed to Springfield as our headquarters.”

It will be a short move for the firm, which currently operates in 2,000 square feet at 2760 E. Sunshine St., Baker said. Renovation work will be required for the building, he said, adding a June move is anticipated.

The building purchase comes amid growth for the company’s revenue, Baker said. While declining to disclose figures, he said Fervent Wealth Management has averaged 44% annual revenue growth since its opening.

“We’re blowing out any projections we had,” Baker said. “I’m a really good projector, and I’m really aggressive, but we didn’t have this in our 10-year plan, let alone 4 1/2-year plan.” 

That’s leading to a need for more employees, he said. The firm currently employs five full-time staff.

“We will be adding two more full-time staff in the next 60 days as the contracts get completed,” he said. “And then we have expectations for three more [employees] in the next 24 months.” 

Aside from founding Fervent Wealth Management, Baker’s financial industry work includes past roles as vice president at Prime Capital Investment Advisors LLC and commercial lender and relationship manager at Bank of America, according to past Springfield Business Journal reporting. In 2025, Baker was among those honored by SBJ at its Trusted Advisers awards.