Waverly Advisors acquires $186 million RIA

Waverly Advisors, a Birmingham, Alabama-based registered investment adviser managing $5.3 billion, has acquired Wall Advisors, a Lakeland, Florida-based RIA firm managing $186 million.

Financial terms weren’t disclosed.

Wall Advisors was established in 1986 by H. Lee Wall, founding partner of affiliated CPA firm Wall Titus. Waverly will continue to collaborate with Wall Titus professionals after the firm’s four professionals join Waverly, with Lee Wall assuming the role of regional director.

This acquisition marks the third since Waverly accepted an equity investment in December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform, Waverly Advisors said in a press release Monday. The partnership supports Waverly’s M&A-focused growth initiatives, particularly aimed at wealth management firms with a CPA orientation.

[More: Advisers should brace for the relentless case for direct indexing]

Related Topics: Waverly Advisors