Waverly Advisors, a Birmingham, Ala.-based RIA, announced on Wednesday that it has completed the acquisition of StrategIQ Financial Group’s investment advisory business. The acquisition increases Waverly’s assets under management by $1.5 billion.
StrategIQ, headquartered in Merrillville, Ind., has offices in Northwest and Central Indiana, as well as the greater Chicago area, according to the announcement. The firm was founded in 1996 by CEO Chad Hassinger and three other advisor partners.
“From the start, we set out to create a new kind of wealth management firm: an independent organization that delivers personalized and holistic financial planning and investment advice to help our clients achieve their financial goals, providing the freedom to live out their dreams and aspirations,” said Hassinger in released comments. “To help grow our organization, gain access to new markets, and expand on the wealth of services we provide, we wanted a partner that shares our values and we found that in Waverly.”
Now, StrategIQ will bring a team of more than 20 advisors, client service associates, investment analysts and operations staff to Wavverly Advisors.
Waverly said that this is its eleventh and largest acquisition since the firm initiated an M&A strategy in 2021. In December of that year, Waverly accepted an equity investment from Wealth Partnersr Capital Group and HGGC’s Aspire Holdings.
“When Waverly started exploring acquisitions, our vision was to do M&A differently,” said Josh Reidinger, CEO of Waverly, in released comments. “Waverly’s desire is to build a world-class, cohesive, and integrated firm, fully focused on its culture and its clients. The StrategIQ team aligns with that vision, and we are thrilled to have them join the Waverly family.”
Waverly now has $9.8 billion in total AUM.