Waverly Acquires NBW
Waverly Advisors, LLC has acquired NBW Capital, LLC (NBW), an investment advisory firm located in Boston, Massachusetts.
The partnership will add approximately $500 million in assets under management to the firm.
Founded in 1991, NBW has served high-net-worth clients in Boston for over 30 years.
The entire NBW team joins Waverly, with the exception of Ben Niedermeyer who is retiring after nearly 50 years in the investment management industry in conjunction with the transaction.
“We are thrilled to partner with Waverly and benefit from additional services and investment options,” said Chris Blakely, who leads the firm, will serve as partner, regional director of Boston, and portfolio manager at Waverly. “These resources, along with Waverly’s extensive expertise and established infrastructure, will enhance our clients’ experience.”
“Waverly’s M&A initiative has always focused on building a cohesive, integrated firm that delivers a world-class, service-oriented client experience,” said Justin Russell, President and CEO of Waverly. “By partnering with NBW, Waverly is able to strengthen its existing equity strategy and offer clients a more sophisticated investment portfolio approach.”
The acquisition of NBW marks Waverly’s 24th 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 28, 2025.
Rick Adler of Red Arrow Capital was NBW’s advisor on the transaction. Financial and legal terms of the deal will not be disclosed.
