Waverly Advisors, a Birmingham, Ala.-based RIA, introduced on Wednesday that it has accomplished the acquisition of StrategIQ Monetary Group’s funding advisory enterprise. The acquisition will increase Waverly’s belongings beneath administration by $1.5 billion.
StrategIQ, headquartered in Merrillville, Ind., has places of work in Northwest and Central Indiana, in addition to the higher Chicago space, in keeping with the announcement. The agency was based in 1996 by CEO Chad Hassinger and three different advisor companions.
“From the beginning, we got down to create a brand new form of wealth administration agency: an impartial group that delivers personalised and holistic monetary planning and funding recommendation to assist our shoppers obtain their monetary targets, offering the liberty to stay out their goals and aspirations,” stated Hassinger in launched feedback. “To assist develop our group, achieve entry to new markets, and develop on the wealth of providers we offer, we needed a companion that shares our values and we discovered that in Waverly.”
Now, StrategIQ will convey a group of greater than 20 advisors, shopper service associates, funding analysts and operations employees to Wavverly Advisors.
Waverly stated that that is its eleventh and largest acquisition for the reason that agency initiated an M&A method in 2021. In December of that yr, Waverly accepted an fairness funding from Wealth Partnersr Capital Group and HGGC’s Aspire Holdings.
“When Waverly began exploring acquisitions, our imaginative and prescient was to do M&A in another way,” stated Josh Reidinger, CEO of Waverly, in launched feedback. “Waverly’s want is to construct a world-class, cohesive, and built-in agency, totally centered on its tradition and its shoppers. The StrategIQ group aligns with that imaginative and prescient, and we’re thrilled to have them be part of the Waverly household.”
Waverly now has $9.8 billion in whole AUM.