The acquisition expands Waverly’s footprint to 7 locations across Ohio
BIRMINGHAM, Ala. — November 12, 2024 — Waverly Advisors, LLC (“Waverly”), a federally registered investment adviser (“RIA”) that specializes in investment management, financial planning and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans and institutional clients, has acquired Buckingham Advisors, (“Buckingham”), an investment advisory firm headquartered in Dayton, Ohio. The partnership marks Waverly’s second acquisition in Ohio since the acquisition of 9258 Wealth Management last month and adds 4 locations to Waverly’s growing footprint nationwide.
Buckingham was founded in 1987 by Jay Buckingham. The firm has built multi-generational relationships with high-net-worth families and business owners based on its philosophy of incorporating comprehensive tax and financial planning with investment management. Jay and his entire team of 38 professionals join Waverly and will add approximately $900+ million to Waverly’s assets under management (“AUM”).
Jay Buckingham will serve as Regional Director at Waverly, along with Jeff Groezinger. Jeff will also serve as Managing Director of the newly introduced Waverly Business Services, which will offer clients a greater depth of tax planning expertise and add tax preparation and business services to Waverly’s client offerings.
“Partnering with Buckingham means that Waverly gains a robust tax preparation and planning service line that will enhance our ability to serve our high-net-worth clients,” said Justin Russell, President of Waverly. “Jay has built a team of talented professionals, and we are thrilled to welcome them to Waverly.”
“By joining Waverly our firm gains significant resources and infrastructure which will allow our team to concentrate on what matters most, our clients,” said Jay. “In addition, we are excited to contribute substantially to a new service line for the firm.”
The acquisition of Buckingham marks Waverly’s 19th transaction since accepting an equity investment in December 2021 from Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform. The transaction closed on November 8, 2024 and increases Waverly’s AUM to approximately $15.5 billion.
“Entering the Ohio region this year has exceeded our expectations, as we have welcomed outstanding advisors, 7 new Waverly office locations and new service lines with the addition of a combined $2.1 billion in AUM,” said Nick Trepp, WPCG Principal. “We are thrilled to be part of Waverly’s growth strategy.”
Financial and legal terms of the deal will not be disclosed.
About Waverly
Waverly Advisors, LLC (“Waverly”) is a fee-only federally registered investment adviser that serves the investment management and wealth planning needs of a diverse group of clients, including high-net-worth individuals and families, corporate retirement plans, trusts, endowments, and institutions. Waverly manages approximately $15.5 billion in assets (as of 11.08.2024) and offers collaborative investment, tax, estate, and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has 30 offices across the U.S. and a team of over 250 professionals who hold many of the industry’s most prestigious credentials. For more information, please visit www.waassetstg.wpengine.com.
About Wealth Partners Capital Group
Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded wealth advisers who seek access to expanded business capabilities, strategic growth and/or customized transition solutions. For more information, please visit www.wealthpcg.com.
About HGGC
HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M – $1.5B+. The firm is based in Palo Alto, CA and manages over $6.9 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. For more information, including a complete list of current and former investments, please visit www.hggc.com.
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Contact:
Robyn Schubart for Waverly Advisors
Marketing Manager
Email: [email protected]
Website: www.waassetstg.wpengine.com
