Waverly Purchases $250M WealthPlans and Its Affiliate Firm

RIA Waverly Advisors has acquired a Maryland-based wealth management firm, marking the RIA’s second location in the state. 

Frederick, MD-based WealthPlans, which was founded by president Brent Cooley and oversees about $250 million in assets under management, provides financial planning, investment management and tax strategies. 

As part of the acquisition, Waverly’s affiliate, Waverly Business Services, has acquired WealthPlans’ affiliate, Cooley & Associates, which offers tax preparation and accounting services. 

“Partnering with Waverly gives us access to an expanded suite of resources and a national network of professionals, allowing the team to remain focused on the client relationships we have cultivated over the years,” Cooley said. 

Specific terms of the deal will not be disclosed. 

This deal, which closed on May 29, marks Waverly’s second location in Maryland and the RIA’s 33rd transaction, following its addition of Louisiana-based TruWealth Advisors, which oversees about $3.1 billion in assets under management. 

Additionally, the combined transaction boosts Waverly’s total assets under management to roughly $35.5 billion, the firm said. 

Waverly sold a stake to HGGC’s Aspire Holdings platform in December 2021 and to private equity investor Wealth Partners Capital Group. 

Birmingham, AL-based Waverly Advisors, founded in 1999, oversees $35.5 billion in assets as of May 29 and has more than 420 professionals working out of 47 offices across the United States.

Pictured: Brent Cooley