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.
Plus, a $400 million Commonwealth team departs to launch an independent family-run RIA in the East Bay area.
“I respectfully request that all recruiters for other BDs discontinue their efforts to contact me," writes Thomas Bartholomew.
The collaboration will focus initially on strategies within collective investment trusts in DC plans, with plans to expand to other retirement-focused private investment solutions.
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