Waverly Acquires $400M Baltimore RIA
Waverly Advisors, a Birmingham, Ala.-based registered investment advisor that entered the M&A market in 2021, has acquired GGM Wealth Advisors, a Baltimore, Md.-based RIA with over $400 million in client assets.
Terms of the deal, which closed on March 21, were not disclosed.
Waverly has completed 22 acquisitions since taking equity investments from Wealth Partners Capital Group, a financial services holding company that invests in wealth management firms, and HGGC’s Aspire Holdings platform. The latest transaction expands Waverly’s presence into Maryland and Virginia, and brings its total AUM to $16.9 billion.
GGM was founded in 1996 and is led by Jeff Johnson and Michael Little. They’ve joined Waverly as partners and regional directors, along with the rest of the GGM team.
“Partnering with Waverly provides us with a more robust infrastructure and enhanced resources, allowing us to better serve our clients,” Johnson said in a statement.
This follows Waverly’s acquisition in January of Dickinson Investment Advisors, an RIA in Council Bluffs, Iowa, a new market for the firm.
“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, in a statement. “We expect the firm will continue to experience strong growth as the year progresses.”
Waverly was founded in 1999 and now encompasses 37 offices across the U.S. and over 260 professionals.
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