US-based RIA Waverly Advisors has acquired Fiduciary Wealth Advisors (FWA), a wealth management firm in Sarasota, Florida.
Financial details of the acquisition were not disclosed.
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The integration of FWA adds around $110m in assets under management to Waverly’s portfolio.
This acquisition enhances Waverly’s presence in the Southwest Florida region.
Waverly president and CEO Justin Russell said: “Attracting top talent like Scott is a key reason Waverly continues to focus on M&A.
“Bringing on experienced professionals like Scott, who align closely with Waverly’s core values, helps foster a collaborative environment where the team can learn from one another, deepen their industry knowledge, and elevate Waverly’s outstanding client experience.”
FWA, established in 2014 by Scott Collins, offers “data-driven” portfolio management.
Collins will transition to Waverly as a partner and wealth advisor following the acquisition.
Collins said: “Waverly’s commitment to its clients was very attractive to me when considering a partnership.
“By joining Waverly, my clients will benefit from enhanced infrastructure and additional resources, enabling me to focus solely on servicing clients.”
This deal represents Waverly’s 25th transaction since receiving an equity investment in December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.
Tyler Nunnally from Nunnally International advised FWA for this deal.
Recently, Waverly Advisors expanded its domestic presence by acquiring NBW Capital, adding approximately $500m in assets.
