Waverly Advisors Acquires Buckingham
Waverly Advisors, LLC, a federally registered investment adviser 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 Buckingham Advisors, an investment advisory firm headquartered in Dayton, Ohio.
The partnership marks Waverly’s second acquisition in Ohio since the acquisition of 9258 Wealth Management last month and adds four locations to Waverly’s growing footprint nationwide.
Buckingham was founded in 1987 by Jay Buckingham. The firm has built multi-generational relationships with high-net-worth families and business owners based on its philosophy of incorporating comprehensive tax and financial planning with investment management. Buckingham and his entire team of 38 professionals join Waverly and will add over $900 million to Waverly’s assets under management (AUM).
Buckingham will serve as regional director at Waverly, along with Jeff Groezinger. Groezinger will also serve as managing director of the newly introduced Waverly Business Services, which will offer clients a greater depth of tax planning expertise and add tax preparation and business services to Waverly’s client offerings.
“Partnering with Buckingham means that Waverly gains a robust tax preparation and planning service line that will enhance our ability to serve our high-net-worth clients,” said Justin Russell, president of Waverly. “Jay has built a team of talented professionals, and we are thrilled to welcome them to Waverly.”
“By joining Waverly our firm gains significant resources and infrastructure which will allow our team to concentrate on what matters most, our clients,” said Buckingham. “In addition, we are excited to contribute substantially to a new service line for the firm.”
The acquisition of Buckingham marks Waverly’s 19th 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 November 8 and increases Waverly’s AUM to approximately $15.5 billion.
“Entering the Ohio region this year has exceeded our expectations, as we have welcomed outstanding advisors, 7 new Waverly office locations and new service lines with the addition of a combined $2.1 billion in AUM,” said Nick Trepp, WPCG Principal. “We are thrilled to be part of Waverly’s growth strategy.”
Financial and legal terms of the deal will not be disclosed.
