This is Waverly’s fifth location in Florida

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 River Capital Advisors, L.C. (“River Capital”), an investment advisory business based in Jacksonville, Florida.

River Capital was founded in 1998 as a subsidiary of Smoak, Davis & Nixon, LLP, one of the Southeast’s oldest and most respected CPA firms. Located in Florida’s largest city, the River Capital team, led by Robert Simon, brings significant growth potential to Waverly.

“Rob and his team are a dynamic group, hungry to grow and dedicated to their clients’ financial well-being,” said Justin Russell, President of Waverly. “We are thrilled to welcome them to the Waverly family.”

“River Capital was established out of the desire to help clients with all aspects of their financial lives,” said Robert Simon, President of River Capital. “Joining Waverly means we are now able to utilize a stronger infrastructure and provide even greater resources to our clients.”

The acquisition of River Capital marks Waverly’s 15^th 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 July 19, 2024, and increases Waverly’s AUM to approximately $12.5 billion.

“Waverly continues to enter new and thriving markets across the U.S.,” said Mac Selverian, WPCG Principal. “Partnering with like-minded RIAs that share Waverly’s cultural values adds to the success of the firm’s M&A 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 $12.5 billion in assets (as of 07.19.2024) and offers collaborative investment, tax, estate, and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has 21 offices across the U.S. and a team of over 170 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.

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