Waverly Advisors has made its first foray into the Pacific Northwest, acquiring Seattle-based Pacific Portfolio Consulting and Pacific Portfolio Trust Company.
The transaction, which closed in two parts between late September and October, brings the entire Pacific Portfolio team to Waverly and adds approximately $5 billion in assets under management.
Apart from being its maden foray into the West Coast, the deal also introduces trust services to Waverly’s platform, broadening the firm’s capabilities for both individual and institutional clients.
Founded in 1992, Pacific Portfolio has focused on comprehensive wealth planning, trust services, and institutional consulting.
Waverly, which manages roughly $26 billion in assets and operates 43 offices nationwide, said the addition will strengthen its trust and corporate retirement plan solutions.
“This partnership aligns with Waverly’s commitment to continuously enhance the client experience. The addition of Pacific Portfolio’s trust services will further strengthen our ability to serve clients effectively,” said Justin Russell, president and CEO of Waverly. He added that the combined firm can now “provide comprehensive wealth management solutions to clients from coast to coast.”
Larry Hood, co-founder and CEO of Pacific Portfolio, said the partnership allows his team to “combine our deep local expertise with a national platform dedicated to long-term client success.” He noted that the collaboration enables Pacific Portfolio to provide more comprehensive solutions while maintaining the personalized attention clients expect.
Waverly also expanded its presence in the Northeast with the acquisition of Bridge Creek Capital Management, a Cape Cod-based RIA with $447 million in assets.
The Bridge Creek team, led by Barry Paster and Scott Myers, will join Waverly as part of the transaction.
“Welcoming the talented Bridge Creek team to Waverly is an exciting step forward,” Russell said Tuesday, citing the alignment of client relationships and values between the two firms.
The Bridge Creek deal follows Waverly’s earlier entry into Massachusetts with the acquisition of Boston-based NBW Capital, which added $500 million in assets. With these latest transactions, Waverly has completed 27 acquisitions since 2021.
With the Bridge Creek and Pacific Portfolio deals, Waverly has added more than $5 billion, practically matching its total assets added last year as tracked by Echelon's 2024 RIA M&A report. According to Echelon, Waverly announced a total of 10 deals this year. That put it in a three-way tie for the title of second-most active acquirer in 2024, the other two runner-ups being MAI Capital and Allworth Financial.
The Echelon report logged a total of 366 M&A deals last year, placing 2024 as the most active year for wealth management M&A at the time. Its most recent snapshot counted 125 transactions in the third quarter, bringing 2025's total so far to 345.
"Echelon estimates that the total 2025 announced transactions could reach 440, surpassing 2024’s total by over 100 transactions," the firm wrote in its Q3 2025 snapshot report.
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