News Summary
Waverly Advisors has acquired GGM Wealth Advisors, marking its 22nd acquisition and expanding its assets under management to approximately $17.4 billion. The acquisition strengthens Waverly’s services in the Maryland and Virginia markets and adds GGM’s $400 million in client assets to its portfolio. This strategic move indicates Waverly’s commitment to growth and enhancing client services, as GGM is known for its focus on superior client experiences. Both firms aim to enhance client-focused services as they adapt to the evolving financial landscape.
Birmingham, Alabama – Waverly Advisors, a Birmingham-based investment advisory firm, has expanded its footprint with the acquisition of GGM Wealth Advisors, located in Baltimore, Maryland. The financial terms of the acquisition were not disclosed, marking a strategic move for Waverly as it extends its services into the Maryland and Virginia markets.
This acquisition increases Waverly’s total assets under management to approximately $17.4 billion, bolstered by GGM’s $400 million in managed client assets. The entire team from GGM Wealth Advisors will be joining Waverly as part of the acquisition, reinforcing Waverly’s commitment to enhancing client services.
Founded in 1999, Waverly Advisors operates a network of 37 offices across the United States, offering a wide range of services that include investment management, tax and estate planning, and financial consulting. Waverly emphasizes a collaborative approach in working with clients to tailor strategies that best suit their individual needs.
Waverly’s acquisition of GGM Wealth Advisors represents its 22nd acquisition since the firm received an equity investment in December 2021. This continued growth strategy highlights Waverly’s ambitious goals for expansion and commitment to providing comprehensive wealth management services.
GGM Wealth Advisors has been a notable player in the financial advisory sector since its establishment in 1996, known for its dedication to superior client experience and long-term relationship building. This alignment with Waverly’s values is seen as a key factor in the acquisition’s success.
The financial planning and investment advisory firms in Alabama are ranked based on assets under management, according to a survey by Business Alabama set to be published in the May 2025 issue. This ranking will provide valuable insight into the competitive landscape within the state, particularly as Waverly solidifies its position with this latest acquisition.
In related industry news, Chris Helton, a financial advisor with approximately $400 million in client assets, has transitioned to Raymond James Financial Services after spending 14 years with Synovus Securities. Helton’s practice will now operate under the name Helton Wealth Management, signaling further evolution within the financial advisory sector.
Adding to the leadership transitions, Raymond James has also announced its future succession plan for CEO Paul Shoukry, who is set to take over the role on February 20, 2025. This change indicates planned growth and development within Raymond James as it continues to adapt to the evolving financial services landscape.
The acquisition of GGM Wealth Advisors represents a significant step for Waverly Advisors, not only increasing its asset management capabilities but also enhancing its geographical reach. As financial firms continue to seek mergers and acquisitions for growth, Waverly positions itself as a leader in the industry with a strong emphasis on client-focused services and strategic expansion.
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