Verdence secures private equity backing to fuel M&A push and national expansion

Verdence Capital Advisors is bringing in new institutional investors as the Maryland-based registered investment advisor positions itself for its next phase of growth.

The Hunt Valley-headquartered private wealth and multi-family office firm announced plans to enter an equity partnership with Wealth Partners Capital Group and HGGC, with the firms investing through WPCG and HGGC’s Aspire Holdings platform. The deal is aimed at accelerating Verdence’s acquisition strategy, strengthening organic expansion efforts and enhancing resources available to clients.

Verdence’s leadership team will continue to hold meaningful ownership stakes following the transaction.

Founded in 2017, Verdence has built an integrated offering that includes wealth management, financial planning and family office services. Its RIA+ platform also supports independent advisors with operational infrastructure, investment research and access to private market opportunities. The firm serves high-net-worth clients, executives, business owners and families, and reported approximately $4.6 billion in assets under management as of Dec. 31, 2025.

“We could not be more excited to partner with WPCG and HGGC for our next phase of growth,” said Leo Kelly, Chief Executive Officer of Verdence. “WPCG’s track record is exceptional and we are proud to be one of the few RIAs with whom they have partnered. Our firms share a client-first philosophy and a belief that disciplined growth strengthens our culture, expands our capabilities and enhances the experience we deliver to clients. From our first meeting with WPCG and HGGC, it was clear this was the right partnership.”

Thomas New, president of Verdence, said the agreement is expected to help the firm continue scaling while maintaining its core identity.

“We are confident this partnership will allow us to continue growing the Verdence brand while preserving the culture and values that define our firm,” New said.

WPCG Managing Partner John Copeland pointed to Verdence’s leadership and platform breadth as key drivers behind the investment.

“Verdence is a firm with an impressive track record anchored by strong leadership and a deep commitment to clients,” Copeland said. “The breadth of the platform across private wealth, family office and advisor services reflects the strength of the business that Leo and his partners have built. We are excited to support the team as they continue to serve more clients with more capabilities across a growing footprint.”

HGGC also emphasized its long-standing respect for Verdence’s expansion strategy and client focus.

“We have long admired Verdence’s thoughtful approach to platform expansion and appreciate the firm’s deep commitment to protecting and stewarding the financial lives of its clients,” said HGGC. “We look forward to partnering with WPCG and the entire Verdence team in support of the continued growth of the business.”

As part of the transaction, Emigrant Partners will divest its ownership stake in Verdence. Jenny Souza, president and CEO of Emigrant Partners, highlighted the firm’s progress since Emigrant first invested in 2021.

“Verdence has experienced significant growth since our initial investment in 2021, and we’ve had the opportunity to partner with Leo and the team on a wide range of organic and inorganic initiatives,” Souza said. “They have strategically expanded their national footprint, broadened their capabilities and built a robust technology platform over the last five years – and we look forward to seeing how Verdence will continue to grow and build off of this foundation.”

The deal is expected to close in April 2026, subject to customary conditions. Financial and legal terms were not disclosed.