The entire team from Planning Capital Management will now join Waverly. Credit: TippaPatt/Shutterstock.

US-based registered investment adviser (RIA) Waverly Advisors has expanded its national footprint through the acquisition of investment advisory firm Planning Capital Management.

Financial and legal specifics of the deal were not revealed.

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Planning Capital caters to high-net-worth individuals, institutions and non-profits. The Paoli, Pennsylvania company was founded in 2001.

The entire team from Planning Capital will now join Waverly, which is backed by Wealth Partners Capital Group (WPCG) and private investment firm HGGC.

Waverly president Justin Russell said: “Rick’s team is a dynamic group of talented professionals who are eager to help clients reach their financial goals.

“Planning Capital’s holistic approach to comprehensive financial planning and wealth management aligns with ours and we are thrilled to have them join the Waverly team.”

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The deal boosts Waverly’s assets under management (AUM) to nearly $15.9bn and establishes its footprint in the greater Philadelphia area.

Planning Capital founder Richard Bell Jr said: “By partnering with Waverly, our team has gained significant resources and infrastructure further enhancing our ability to serve clients.

“Most importantly, Waverly’s culture aligns with ours, and we are excited to join the Waverly team.”

The acquisition marks Waverly’s  20th transaction since partnering with WPCG and HGGC’s Aspire Holdings in December 2021.

Last week, Waverly Advisors acquired Ohio-based Buckingham Advisors, expanding its network in the state to seven locations and adding over $900m in assets to its portfolio.