RIA aggregator Waverly Advisors has purchased Baltimore, Maryland-based GGM Wealth Advisor.
Financial specifics of the deal were not divulged.
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This partnership extends Waverly’s reach into Maryland and Virginia, marking the company’s 22nd transaction since December 2021.
The acquisition brings GGM’s over $400m in assets under management (AUM) into Waverly’s portfolio, boosting the latter’s AUM to approximately $17.4bn.
In addition, the full team at GGM has moved to Waverly.
GGM president and managing director president Jeff Johnson said: “Partnering with Waverly provides us with a more robust infrastructure and enhanced resources, allowing us to better serve our clients.”
GGM Wealth Advisors was set up in 1996 by Jeff Johnson and Michael Little and has a significant presence in the Baltimore market.
The latest deal continues the growth trajectory of Waverly Advisors, which has been expanding rapidly following an equity investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.
Waverly president and CEO Justin Russell said: “GGM has built a successful firm by providing a superior client experience while establishing long-term relationships.
“We appreciate GGM’s transparent, advisor-guided approach to comprehensive wealth management which prioritises clients’ best interests.”
Waverly, which was established in 1999 and is headquartered in Birmingham, Alabama, now has 37 offices across the US and over 290 employees.
It caters to a diverse clientele, including high-net-worth individuals, corporate retirement plans, trusts, endowments, and institutions.
In December 2024, Waverly Advisors acquired Planning Capital Management, an investment advisory firm serving high-net-worth individuals, institutions, and non-profits.
