Corporate Roundup: Waverly Advisors Acquires Mueller, Alera Group, The Standard Hires
This week, Waverly Advisors acquires Colorado-based Mueller Financial Solutions, Alera Group hires a senior retirement plan services consultant in New York, The Standard welcomes a new regional vice president, and Kestra Financial welcomes Wealth Empowerment Financial Strategies.
Waverly Advisors Acquires Mueller
Waverly Advisors, LLC, a federally registered investment adviser (RIA) that specializes in investment management, financial planning and wealth management solutions for high-net-worth individuals, corporate retirement plans and institutional clients, has acquired Mueller Financial Solutions, Co., an investment advisory firm based in Canon City, Colorado.
The partnership marks Waverly’s second location in Colorado since the acquisition of Rainsberger Wealth Advisors in 2023.
Mueller was founded in 1992 by Jeffrey Mueller, who provides comprehensive wealth management and tax and retirement planning services to high-net-worth families. He serves as partner and wealth advisor at Waverly and his entire team has joined the firm.
“Jeff and his team serve their clients with the same dedication as we do,” said Justin Russell, president of Waverly. “By partnering with like-minded RIAs, we maintain our firm’s culture of serving both our clients and our communities with integrity and grace.”
“At Mueller we know that attaining financial success requires a multifaceted approach,” he said. “By joining Waverly, we access greater resources and a robust infrastructure that allows our team to better serve our clients.”
The acquisition of Mueller marks Waverly’s 18th 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 October 25, 2024. Waverly’s AUM is approximately $14.4 billion.
“We are excited to see this terrific addition to Waverly’s Colorado region,” said Mac Selverian, WPCG Principal. “Our team continues to identify culturally aligned RIAs to help Waverly grow as a world-class wealth management firm.”
Financial and legal terms of the deal will not be disclosed.
Alera Group Announces NY Hire
Alera Group has expanded its national team of Retirement Plan Services professionals with the hiring of New York-based industry veteran Jim Marx as a senior retirement plan services consultant.
Previously, Marx served as retirement plans division director at Edelman Financial Engines. At Alera Group, he will build on over 20 years of managing retirement plans for business owners and their employees. Marx’s experience includes retirement plan design, corporate tax deduction optimization, and investment advisory strategies.
“As we continue to expand through strategic acquisitions and by attracting the industry’s top talent, I’m thrilled to welcome Jim to the Alera Group team,” said Christian Mango, executive vice president and national practice leader for Alera’s Retirement Plan Services division. “Jim is an outstanding professional with a long history of innovative service, and his addition is another significant step forward for our national team.”
Based in Ossining, New York, Marx will work in association with The Waterford Group, an Alera Group company based in Rochester, New York.
The Standard Adds Retirement Plans RVP
The Standard welcomes Patrick Mulquin as a new regional vice president in Retirement Plans. In this role, he will collaborate with advisors, plan sponsors and third-party administrators (TPAs) in the greater Los Angeles area.
Mulquin has 30 years of experience in the retirement plan and financial services industry, with previous roles in sales as director and regional vice president.
Mulquin graduated from Hampden-Sydney College in Virginia with a bachelor’s degree in history and holds FINRA Series 6, Series 7 and Series 63 licenses.
“We’re absolutely thrilled to welcome Patrick to the team,” said Brody Geist, divisional vice president of Retirement Plan Sales at The Standard. “His extensive industry experience, pension expertise and customer service orientation make him an invaluable asset to our organization.”
Kestra Financial Brings In WEFS
Kestra Financial has welcomed Wealth Empowerment Financial Strategies (WEFS) to its network of independent wealth management firms.
The firm, led by Senior Managing Director and founder Eric Lyon, and Senior Managing Director Tom Holly, specializes in wealth management and retirement solutions. The WEFS team of 31 independent advisors and staff members oversees $1.4 billion in assets under management (AUM).
Established in 2006, WEFS plans to leverage its partnership with Kestra Financial to further streamline its financial solutions offerings.
“After a long process of interviews and due diligence, the decision to move forward with Kestra Financial was a natural one,” said Lyon. “We were impressed with everything Kestra Financial had to offer – from its executive management team and technology platform to its back-office tech and resources – and knew this would help the growth of our firm down the line.”
“We’re thrilled to welcome WEFS to our network of independent wealth management firms,” said Daniel Schwamb, executive vice president of Business Development at Kestra Financial. “WEFS and Kestra Financial share a joint ethos of teamwork and collaboration, making Eric and his team a perfect fit within our premier community of independent financial professionals.”
The WEFS team join Kestra from B. Riley Wealth Management.
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