Waverly expands into Charlotte, North Carolina
BIRMINGHAM, Ala.–(BUSINESS WIRE)–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 the investment advisory business of McShane Partners (“McShane”), based in Charlotte, North Carolina. The transaction marks Waverly’s third acquisition in 2024, together with those of StrategIQ Financial Group and EFP Advisors, which have added combined assets under management (“AUM”) of approximately $2.5 billion so far in 2024.
McShane was founded in 1985 as one of the first fee-only RIAs in Charlotte. Daniele Donahoe, CEO of McShane, and her team offer a boutique approach to investment management, wealth advisory, and financial planning, with a holistic engagement of each client’s financial goals, needs, and risk tolerances.
“The McShane team brings additional strategies to Waverly’s growing public and private market investment options,” said Justin Russell, President of Waverly. “As our firm continues to grow, we remain dedicated to providing unwavering service and greater opportunities for clients and team members; it is clear that McShane embodies this same dedication and strong sense of culture.”
“McShane’s mission has always been to champion transparent and objective advice of the highest caliber while delivering an unprecedented level of service,” said Donahoe. “It is clear that Waverly shares these values, and we are confident this partnership will offer increased resources and support for our clients.”
The acquisition of McShane marks Waverly’s thirteenth 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 April 5, 2024, and increases Waverly’s AUM by approximately $700 million.
“The acquisition of McShane speaks to Waverly’s commitment to delivering comprehensive, client-centric wealth and investment management services, while expanding the firm’s resources and infrastructure to new geographies,” said Mac Selverian, WPCG Principal.
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 $11.3 billion in assets (as of 04.05.2024) and offers collaborative investment, tax, estate, and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has nineteen offices across the U.S. and a team of over 150 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 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. More information, including a complete list of current and former investments, please visit www.hggc.com.
Contacts
Robyn Schubart for Waverly Advisors
Marketing Manager
Email: [email protected]
Website: www.waverly-advisors.com
