Waverly Advisors, a Birmingham, Ala.-based registered investment advisor that entered the M&A market in 2021, has acquired StrategIQ Financial Group, a wealth management firm headquartered in Merrillville, Ind. This represents Waverly’s largest deal since beginning on its acquistion course, adding $1.5 billion in assets under management. The deal also gives Waverly new offices in Illinois and Indiana.
Terms were not disclosed.
Waverly has completed 11 acquisitions since taking equity investments from Wealth Partners Capital Group, a financial services holding company that invests in wealth management firms, and HGGC’s Aspire Holdings platform. The latest transaction brings its total AUM to $9.8 billion.
"Waverly’s partnership with StrategIQ represents a substantial milestone for the firm as it approaches the $10 billion AUM threshold," said Mac Selverian, WPCG Principal, in a statement. "2023 has been a particularly successful year for Waverly, with seven acquisitions completed across seven states, and we start 2024 with this outstanding partnership."
StrategIQ was founded in 1996 by CEO Chad Hassinger and three other advisors. The firm now has a team of more than 20 advisors, client service associates, investment analysts and operations team members. In addition to its Merrillville headquarters, it also has offices in the greater Chicago area, and Northwest and Central Indiana.
Waverly was founded in 1999, and now encompasses 18 offices across the U.S., and over 130 professionals.
