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.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
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.
