Waverly Advisors Acquires $1B 9258 Wealth Management
Waverly Advisors, LLC has acquired 9258 Wealth Management, LLC, a $1 billion, Cincinnati-based investment advisory firm and tax preparation and planning business. The partnership adds three Ohio-based offices to Waverly’s growing footprint and increases its assets under management to approximately $14.4 billion.
Financial terms of the deal, which closed on October 18, were not disclosed.
Walt Lunsford founded 9258 in 2017 and prior to that spent 13 years as a managing director and SVP at a multinational financial services company. He is the president and sole owner of the firm and brings a team of 24 professionals to Waverly. Lunsford will serve as a partner, wealth advisor and regional director.
“Partnering with 9258 brings a wealth of benefits to both firms,” said Justin Russell, president of Waverly. “Not only do we expand our reach into another new market, but we acquire new lines of service and expertise, while providing greater resources and infrastructure to 9258’s existing clients.”
The acquisition of 9258 marks Waverly’s 17th transaction since accepting an equity investment in December 2021 from RIA investor Wealth Partners Capital Group and private equity firm HGGC’s Aspire Holdings platform, and the 7th deal of the year.
In January, Waverly made its largest deal ever with its acquisition of the Merrillville, IN-based investment advisory business assets of StrategIQ Financial Group, LLC.
Founded in 1999, the Birmingham, AL-based firm is a registered investment advisor specializing in investment management, financial planning and wealth management for high-net-worth individuals, corporate retirement plans and institutional clients.