Waverly M&A Marks $10 Billion AUM Milestone

EFP Advisors joins Waverly’s growing team in Mississippi

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 EFP Advisors (“EFP”), in Jackson, Mississippi. This acquisition marks Waverly’s second transaction of 2024, and further expands the firm’s footprint in Mississippi, after acquiring Jackson-based RIA SoundPath Investment Advisors last year. This partnership also represents a significant milestone in Waverly’s history as it brings the firm’s total assets under management to over $10 billion.

EFP was founded in 2012 by Doug McDaniel and Chris Register with the vision to combine and strengthen resources of like-minded companies to better serve and help their clients reach their financial goals. EFP consists of two affiliated companies, McDaniel & Register Financial Advisors, owned by Doug and Chris, and W.O. Stone Advisors, owned by Bill Stone. The entire EFP team will join Waverly Advisors in Waverly’s Jackson, Mississippi location.

“Since joining Waverly a few short months ago, my team can attest that cultural alignment really means everything to the firm,” said Julius Ridgway, a Regional Director of Waverly in Mississippi. “As we got to know Doug, Chris, and Bill’s team and came to understand the passion they have for serving their clients, we knew that we had found a strong cultural fit with EFP.”

“Joining Waverly brings enormous growth potential,” said Doug McDaniel, President of McDaniel & Register Financial Advisors. “Our clients will have access to additional resources and infrastructure, while still enjoying a boutique and personalized approach to comprehensive financial planning and wealth management.”

“Every person we've met at Waverly has validated our decision to join Waverly as best for our clients and our team. Our clients are at the center of everything we do, and we look forward to serving them with the same care and focus,” said Bill Stone, owner of W.O. Stone Advisors.

The acquisition of EFP represents Waverly’s twelfth 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 March 1, 2024, increasing Waverly’s assets under management (“AUM”) by approximately $250 million dollars.

“Waverly’s M&A journey over the past 2 years has been a great success, and we are thrilled with our partnership as they cross the $10 billion dollar AUM mark,” 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 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 $10.6 billion in assets (as of 03.01.2024) and offers collaborative investment, tax, estate, and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has eighteen 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 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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