Corporate Roundup: Waverly Advisors Acquires GGM, Wealth Enhancement Merges with Marcum Wealth
Waverly Advisors Acquires GGM
Waverly Advisors, LLC has acquired GGM Wealth Advisors, an investment advisory firm based in Baltimore, Maryland. This partnership grows Waverly’s presence in the Northeast, expanding its reach into new markets of Maryland and Virginia.
Led by Jeff Johnson and Michael Little, GGM was founded in 1996, and has grown to manage over $400 million in assets under management. The team focuses on tailoring investment management strategies to meet the needs and financial goals of their clients. The entire team at GGM joins Waverly.
“GGM has built a successful firm by providing a superior client experience while establishing long-term relationships,” said Justin Russell, president and CEO of Waverly. “We appreciate GGM’s transparent, advisor-guided approach to comprehensive wealth management which prioritizes clients’ best interests.”
“Waverly’s steadfast commitment to its clients aligns completely with our values,” said Jeff Johnson, president and managing director of GGM. “Partnering with Waverly provides us with a more robust infrastructure and enhanced resources, allowing us to better serve our clients.”
The acquisition of GGM marks Waverly’s 22nd transaction since accepting an equity investment in December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform. The transaction closed on March 21, 2025 and increases Waverly’s AUM to approximately $16.9 billion.
“With the first quarter of 2025 nearly complete, Waverly has already moved into three new markets,” said Nick Trepp, partner and head of Corporate Development at WPCG. “This is exciting for Waverly. We expect the firm will continue to experience strong growth as the year progresses.”
Financial and legal terms of the deal will not be disclosed.
Wealth Enhancement and Marcum Wealth Announce Merge
Wealth Enhancement is merging with Marcum Wealth, an independent RIA headquartered in Cleveland, Ohio.
The team oversees more than $4.3 billion in client assets and is led by Eric Wulff, chief executive officer. Upon completion of the deal, expected to close in May 2025, Marcum Wealth’s client assets will be added to the $107.5 billion Wealth Enhancement currently manages.
Jeff Dekko, chief executive officer of Wealth Enhancement, said, “We are thrilled to partner with Marcum Wealth, a like-minded firm that shares our commitment to providing exceptional wealth management services. The partners’ backgrounds within an accounting firm environment makes the team uniquely positioned to deliver advanced planning to complex clients, such as business owners and multi-generational families. We look forward to welcoming the talented and knowledgeable Marcum Wealth team to Wealth Enhancement.”
Founded in 2006, Marcum Wealth offers comprehensive financial planning and wealth management services for multi-generational families along with exit planning and retirement plan solutions for business owners. In addition to its Cleveland headquarters, the firm has ten additional office locations spanning the Midwest, Mid-Atlantic, New England, and Southeast regions.
Eric Wulff, chief executive officer of Marcum Wealth, said, “Our client’s best interests have been at the core of each decision our firm has made, and this rings true with our latest move to join Wealth Enhancement. We believe this partnership will allow us to deliver more value to our clients while continuing to serve them with the personalized, high-touch service they are accustomed to.”
Berkshire Global Advisors served as exclusive financial advisor to Marcum Wealth on the transaction.
BlackRock Nominates Experts to Board of Directors
BlackRock, Inc. announced its nomination of Gregory J. Fleming, chief executive officer of Rockefeller Capital Management, and Kathleen Murphy, former president of Personal Investing at Fidelity Investments, independent directors to BlackRock’s Board of Directors.
“Greg and Kathy have built incredible careers in financial services and wealth management, and the experience and expertise they bring will be invaluable to BlackRock as we seek to continue our momentum in delivering for clients,” said Chairman and CEO of BlackRock Larry Fink.
Additionally, the independent directors of the BlackRock’s board have unanimously asked Murry S. Gerber to stand for re-election at the firm’s upcoming 2025 Annual Meeting of Shareholders and, if elected, continue in his role as lead independent director for an additional year. Gerber has agreed to do so, according to BlackRock.
Since the last annual meeting, BlackRock closed the Global Infrastructure Partners acquisition; announced and closed the Preqin transaction; and announced the planned acquisition of HPS Investment Partners. In light of these transactions and integrations, the independent directors have requested that Gerber stand for re-election and stay on as lead independent director for one additional year.
SS&C Technologies, Principal Extend Partnership
SS&C Technologies Holdings, Inc. announced that Principal Asset Management has extended its transfer agency relationship with SS&C.
Principal Asset Management is the investment management division of Principal Financial Group. SS&C Global Investor & Distribution Solutions will provide a full range of fund services to Principal’s 114 mutual funds comprised of 467 mutual and retail alternatives share classes, with approximately $160 billion in assets under management.
Principal’s offerings for individual and institutional investors feature more than 50 fund types across equity, fixed income, real estate to alternative strategies. SS&C provides transfer agency and digital investor services, including investor communications, document processing, anti-money laundering services and more.
“We are pleased to extend our valued long-term relationship with Principal Asset Management,” said Nicole Greene, head of SS&C GIDS, U.S. “Principal Asset Management is leading the innovation in financial products with both public and private investment capabilities, multi-asset strategies and retirement solutions. We look forward to working closely with the team to help them realize those ambitions while supporting top-of-the line investor services.”
World Investment Advisors Launches Managed Account Platform
Financial advisory firm World Investment Advisors, LLC is launching World Managed Account Platform, its new open-architecture, multi-custodial investment and portfolio management platform. The new solution is designed to help advisors save time, grow revenues, optimize outcomes for clients and provide added flexibility in how they manage their businesses.
Initially, WorldMAP will consist of a model program that includes strategies created and managed by World’s in-house investment team. Additionally, it will feature automated and individualized tax management, and the ability to personalize models for clients at scale. Advisors will also have access to models offered by other industry-leading strategists, and a diversified lineup of separately managed account (SMA) managers.
“The launch of WorldMAP is a revolutionary step for our wealth platform, indicative of the investments we are making to create an elevated experience for our advisors and their clients,” said Troy Hammond, CEO of World Investment Advisors. “Clients today – especially high-net-worth investors – are increasingly demanding solutions tailored to their goals and circumstances. WorldMAP delivers on our pledge to provide advisors with all the tools, services and solutions to differentiate themselves in the current hyper-competitive landscape.”
World’s in-house models will be branded Cota Street. Chief Investment Officer Nate Garrison and the rest of the firm’s investment team will oversee the curated selection of multi-asset, equity and fixed-income strategies.
At launch, Cota Street will offer 10 strategies and more than 50 models. The suite of Cota Street model strategies includes options for client portfolio needs and will be offered alongside other industry strategists and SMA managers. Advisors who want to continue to manage their own models will also be able to add those to the platform with access to top-tier service and support.
World will continue to add strategists and models to the platform in the future. Later this year, WorldMAP said it will add a second program offering that will simplify investment management for advisors who want to act as their own portfolio managers and continue to trade and rebalance client accounts.
“It has become crystal clear over the years that an advisor’s most valuable commodity is time,” Garrison said. “Not only does WorldMAP provide advisors with an opportunity to create highly customized portfolios that evolve with a client’s changing needs, but it allows them to economically build more scale in their practice, giving them the opening to better manage existing relationships, cultivate new ones and increase revenue.”
World has named Lauren Yeaton Hunt as senior vice president of Wealth Platforms and Partnerships as part of this launch. Hunt, with more than 30 years of financial services experience, will help facilitate the launch of WorldMAP and will also be responsible for all business-related decisions for the WorldMAP platform, as well as managing the relationships with industry strategists and SMA managers.
Hunt spent more than a decade at LPL Financial where she held a series of senior vice president roles, and later was vice president of Product Management at Fidelity. Most recently, she served as vice president of Product Marketing at Vestmark.
“I’m excited to join World and collaborate with our advisors to deliver on the value proposition,” Hunt said. “WorldMAP will offer our advisors significant time savings, client-centric service and support, the opportunity to focus on personalized client outcomes and a foundation that supports their growth. As we move forward, we will continue to fine tune the platform by incorporating feedback from our advisors and the needs of their clients.”
Bluespring Acquires CCM
Bluespring Wealth Partners has acquired Charter Capital Management (CCM), a wealth management and financial advisory firm based in Brookfield, Wisconsin.
The CCM team, co-led by principals Joel Hassler and Dan Glaser, currently oversees over $400 million in assets under management (AUM). With a history of more than 45 years of investment management services, the firm comprises four advisors with comprehensive portfolio management experience and a background in tax and financial planning.
CCM offers a holistic suite of financial planning services, including wealth management, investment management, retirement planning, tax planning and preparation, estate planning and debt management. By partnering with Bluespring, CCM plans to leverage the platform’s offerings and resources to deliver wealth management services to its clients. Additionally, CCM leadership plans to utilize Bluespring’s succession planning offerings for current investment advisor representatives and designated successors, Alexandra Cali and Samuel Verhulst.
“Wealth management is more than just managing a portfolio of investments, it’s about achieving our clients’ financial goals – and it’s evident that Bluespring is also committed to client excellence through the continued support of entrepreneurship for its firms and advisors,” said Joel Hassler, president and principal of Charter Capital Management. “With this partnership, we’re excited to build upon our decades of long-standing expertise through Bluespring’s breadth of offerings, ultimately elevating our capabilities for our clients.”
“We’re pleased to welcome CCM to both the Bluespring family and to the broader ecosystem of Kestra financial professionals and firms,” said Pradeep Jayaraman, president of Bluespring Wealth Partners. “It’s our passion to support the entrepreneurial spirit of high-performing firms, especially those with significant multigenerational talent, and we see those things in CCM. Their high standard of excellence, client commitment, and succession-forward approach are well-aligned with Bluespring’s core values.”
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