Waverly Advisors Expands Reach with Strategic Acquisition
BIRMINGHAM, Ala.-- Waverly Advisors, LLC (“Waverly”), a federally registered investment adviser, has taken a significant step forward by acquiring Planning Capital Management Corp. (“Planning Capital”), an investment advisory firm headquartered in Pennsylvania. This acquisition marks a key development for Waverly as it establishes a solid footing in the greater Philadelphia area, further enhancing its investment management and wealth management offerings.
History of Planning Capital Management
Founded by Richard (“Rick”) Bell Jr. in 2001, Planning Capital has a long-standing history of serving high-net-worth individuals, institutions, and non-profits for over two decades. The firm is recognized for its personalized approach to financial planning, bringing together quantitative analysis and qualitative insights about clients' lives. This unique blend allows them to simplify complex financial situations, providing tailored strategies that help clients achieve their financial objectives. The entire team from Planning Capital will now integrate into Waverly, bringing their expertise and dedication.
Leadership Insights on the Acquisition
Justin Russell, President of Waverly, expressed his enthusiasm about the acquisition, stating, “Rick’s team is a dynamic group of talented professionals eager to help clients reach their financial goals. Planning Capital’s holistic approach aligns perfectly with our vision, and we are thrilled to welcome them to the Waverly family.” This sentiment reflects Waverly's commitment to maintaining a client-focused approach while expanding its service capabilities.
Rick shared his thoughts as well, stating, “By partnering with Waverly, our team gains significant resources and infrastructure, enhancing our ability to serve clients effectively. What's most important is that Waverly’s culture aligns well with ours, and we are excited to join forces.” This partnership is poised to create a robust platform that offers exceptional value to clients.
Waverly’s Growth Trajectory
The acquisition of Planning Capital marks a notable milestone for Waverly, representing its 20th transaction since receiving an equity investment in late 2021. This investment came from Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform, reflecting a strong commitment to growth and enhancement. With this recent acquisition, Waverly’s assets under management (AUM) have reached approximately $15.9 billion, a significant mark in the firm's growth journey.
Mac Selverian, a Principal at WPCG, noted the impact of this strategic partnership: “This partnership expands Waverly’s presence to 12 states across the U.S. It has been an exciting year for Waverly, and we look forward to continued M&A momentum as we enter into the new year.” Waverly’s strategy clearly aims not only at increasing its market footprint but also at fostering innovation and excellence in client service.
Waverly Advisors’ Commitment to Excellence
Financial and legal terms of the deal have not been disclosed, but the focus remains on ensuring that clients receive unparalleled service and innovative financial solutions. As a fee-only federally registered investment adviser, Waverly Advisors is dedicated to meeting the diverse needs of its clients, including high-net-worth individuals, corporate retirement plans, and institutional clients. With approximately 33 offices across the U.S. and a team of over 250 professionals, Waverly is strongly positioned to manage a wide array of investment and wealth planning needs.
Founded in 1999 in Birmingham, Alabama, Waverly Advisors emphasizes the importance of collaborative strategies that encompass investment, tax, estate, and financial planning services, ensuring a holistic and effective approach to wealth management.
Frequently Asked Questions
1. What does the acquisition of Planning Capital mean for Waverly Advisors?
The acquisition strengthens Waverly's presence in the Philadelphia area and enhances its investment and wealth management services, allowing for expanded client support.
2. How long has Planning Capital been in operation?
Planning Capital was founded in 2001, boasting over two decades of experience in serving high-net-worth individuals, institutions, and non-profits.
3. Who are the key people involved in this acquisition?
Justin Russell, President of Waverly, and Rick Bell Jr., founder of Planning Capital, are the key figures associated with the acquisition.
4. What are Waverly Advisors' total assets under management now?
Waverly Advisors manages approximately $15.9 billion in assets following the acquisition of Planning Capital.
5. Will the Planning Capital team remain intact after the acquisition?
Yes, the entire Planning Capital team is joining Waverly, allowing a seamless transition and continuity for existing clients.
