Waverly debuts in Pennsylvania with Planning Capital acquisition

Waverly debuts in Pennsylvania with Planning Capital acquisition
The RIA firm's latest partnership extends its reach to 12 states while boosting its assets to $15.9 billion.
DEC 17, 2024

Waverly Advisors is making its maiden foray into the greater Philadelphia area with its latest strategic partnership.

The PE-backed RIA announced Tuesday that it has acquired Planning Capital Management, a Pennsylvania-based investment advisory firm.

The deal marks Waverly’s tenth acquisition in 2024 and its twentieth since securing equity backing in late 2021.

Founded in 2001 by Richard Bell Jr., Planning Capital has served high-net-worth individuals, nonprofits, and institutional clients for more than 20 years. The firm’s approach integrates complex financial planning with clients’ broader personal and financial goals.

The entire Planning Capital team will be integrated into Waverly as part of the strategic partnership.

“Rick’s team is a dynamic group of talented professionals who are eager to help clients reach their financial goals,” Justin Russell, president of Waverly, said in a statement Tuesday. “Planning Capital’s holistic approach to comprehensive financial planning and wealth management aligns with ours, and we are thrilled to have them join the Waverly team.”

The acquisition pushes Waverly’s assets under management to approximately $15.9 billion and expands the firm’s footprint to 12 states. Waverly now operates 33 offices across the US, with more than 250 professionals on staff.

“By partnering with Waverly, our team has gained significant resources and infrastructure further enhancing our ability to serve clients,” Bell said.

Waverly began its acquisition strategy in 2021 after receiving investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform. Some of its most significant transactions since then include its October deal for $1 billion planning firm 9258 Wealth Management and its early November deal for Buckingham Advisors, both of which were in Ohio.

Mac Selverian, principal at Wealth Partners Capital Group, emphasized Waverly’s continued growth through mergers and acquisitions.

“It has been an exciting year for Waverly, and we look forward to continued M&A momentum as we enter 2025,” Selverian said.

Latest News

Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest
Brooklyn-based Maridea snaps up former LPL affiliate to expand in the Midwest

Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.

Trump executive order set to ease path for private assets in 401(k)s, but hurdles remain
Trump executive order set to ease path for private assets in 401(k)s, but hurdles remain

A new PitchBook analysis unpacks sticking points relating to liquidity, costs, and litigation risk for would-be investors and plan sponsors.

Chuck Roberts, ex-star at Stifel, barred from the securities industry
Chuck Roberts, ex-star at Stifel, barred from the securities industry

"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.

Vestmark, BlackRock, iCapital, and Dynasty forge four-way private market partnership
Vestmark, BlackRock, iCapital, and Dynasty forge four-way private market partnership

The collaboration will give RIAs yet another access point into the alternatives space through a new unified managed account capability.

DeVoe: Record-breaking RIA M&A run led by private equity's consolidator comeback
DeVoe: Record-breaking RIA M&A run led by private equity's consolidator comeback

A drop in interest rates and easier access to capital has reignited appetite among private equity-backed consolidators, who accounted for 53% of RIA deals so far this year- their highest share since 2021 according to DeVoe & Company.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.