Waverly’s first acquisition in the state of Colorado

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 Rainsberger Wealth Advisors (“Rainsberger”) based in Colorado Springs, CO. With ongoing expansion efforts underway, Waverly has recently added offices in Texas and Mississippi, and now Colorado, in addition to their long-time presence in Alabama, Georgia, and Florida.

Rainsberger Wealth Advisors was founded in 1990 by Bud Rainsberger, with the mission to help clients build strong financial futures while providing them with peace of mind. Bud will assume the role of Waverly Regional Director for the Denver and Colorado Springs regions and will be joined at Waverly by his entire team.

“Waverly is thrilled to enter the Colorado market with Bud and his team,” said Josh Reidinger, CEO of Waverly. “As Waverly continues to execute on its strategy of thoughtful and strategic growth, there is significant value in partnering with established and respected firms, such as Rainsberger. Bud and his team bring a shared commitment to serving their clients with excellence, and we are happy to welcome them to the Waverly family.”

“When we were approached to join Waverly, our focus was on the well-being of our clients and team members,” said Bud Rainsberger. “Upon learning of Waverly’s client-centric approach and commitment to its clients, team and local communities, it was clear to us that this partnership would be a great opportunity for Rainsberger.”

This acquisition marks the ninth since Waverly accepted an equity investment in December 2021 from Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform to support Waverly’s ongoing M&A-focused growth. Waverly now has offices in six states across the U.S., and anticipates continued growth given its strong M&A pipeline.

“Throughout this partnership process, Bud consistently prioritized his clients and team, demonstrating a strong cultural alignment between Rainsberger and Waverly. The connection between these firms creates a solid foundation for Waverly as it expands into Colorado,” said Mac Selverian, WPCG Principal.

The acquisition of Rainsberger, which closed on October 20, 2023, increases Waverly’s assets under management (“AUM”) by $302 million, bringing Waverly’s total AUM to approximately $7.4 billion. Financial and legal terms of the deal will not be disclosed.

About Waverly

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 approximately $7.4 billion in assets (as of 10/20/23) and offers collaborative investment, tax, estate and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has twelve offices across the U.S. and a team of over 100 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.

About HGGC

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.

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