BIRMINGHAM, Ala.--(BUSINESS WIRE)--Waverly Advisors, LLC (“Waverly”), a registered investment advisor (“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 Omni Wealth Advisors, Inc. (“Omni Wealth”). This acquisition is Waverly’s first of 2023 following four acquisitions in 2022. The partnership with Omni Wealth further enhances Waverly’s presence in Atlanta and Tampa.
Omni Wealth brings over 30 years of financial planning, investment and tax knowledge to Waverly. Brian Hershberger, President of Omni Wealth, has led the organization since 2001. The firm serves approximately 140 southeast based high-net-worth clients.
“Omni Wealth’s dedication to culture and service immediately drew us to the firm and we knew they would be a great fit,” said Scott Craig, Regional Director of Waverly. “We are excited to welcome Brian’s team and their clients to the Waverly family.”
“We realized very quickly that our journey with Waverly would be a positive one,” said Hershberger. “Waverly’s values align with our own and we knew that this transaction would benefit all parties, especially our clients, through access to more services and resources.”
This acquisition marks Waverly’s fifth since accepting an equity investment in December 2021 from Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform. The collective partnership supports Waverly’s growth, with a particular focus on offering partnership solutions to RIAs across the Southeast.
“Brian’s wealth management philosophy is very similar to that of Waverly’s. It was clear from the start that Omni Wealth approaches the business from a position of service, while providing deep planning, investment, and tax capabilities. This cultural and technical combination is what Waverly seeks in a partner, and we’re thrilled to have Brian join the Waverly team,” said Mac Selverian, WPCG Principal.
The acquisition of Omni Wealth closed on March 31, 2023 and will increase Waverly’s assets under management by $105 million. Financial and legal terms of the deal will not be disclosed.
Waverly Advisors, LLC (“Waverly”) is a fee-only 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 $5.5 billion in assets (as of 12/31/22) and offers collaborative investment, tax, estate and financial planning services. Founded in 1999 in Birmingham, Alabama, the company currently has nine offices across the Southeast and a team of over 80 professionals who hold many of the industry’s most prestigious credentials. For more information, please visit www.waverly-advisors.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 registered investment advisers and financial advisors who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. For more information, please visit www.wealthpcg.com.
HGGC is a leading middle-market investment firm based in Palo Alto, California, with over $6.9 billion in cumulative capital commitments. HGGC is focused on partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information is available at www.hggc.com.