Waverly Advisors Acquires SoundPath Investment Advisors

Waverly expands its Southern footprint with the addition of its first Mississippi location.

BIRMINGHAM, Ala.–(BUSINESS WIRE)–Waverly Advisors, LLC (“Waverly”), a registered investment advisor (“RIA”) that specializes in investment management, financial planning and wealth management solutions for a diverse group of high-net-worth individuals, corporate retirement plans and institutional clients, has partnered with SoundPath Investment Advisors, LLC (“SoundPath”) based in Jackson, Mississippi. This merger is Waverly’s first partnership in Mississippi, with the firm now having offices in five states across the U.S.

SoundPath (formerly Madley & Brown) was founded in 1988 and later purchased in 2020 by Julius Ridgway, Doug Muenzenmay and Eddie Carlisle. In January 2022, the firm rebranded and changed its name to SoundPath, to better reflect its mission of guiding clients toward a strong financial future. Julius and Doug will serve as Co-Regional Directors of Waverly’s Mississippi office and will be joined by their entire team.

“We were so impressed with the business Doug, Eddie, and Julius have built, and we knew immediately that they would add so much more to Waverly,” said Josh Reidinger, CEO of Waverly. “Not only does this partnership add to Waverly’s expertise and experience, but it expands Waverly’s presence with our first location in Mississippi.”

“At SoundPath our focus remains on the well-being of our clients and team members,” said Julius Ridgway. “Our mission and culture are centered on our clients, and we are thrilled to partner with Waverly, a firm that shares these same values.”

This acquisition marks the eighth since Waverly accepted an equity investment in December 2021 from Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform to support Waverly’s ongoing M&A-focused growth. In 2023, Waverly has acquired four firms, adding approximately $1.3 billion in assets under management (“AUM”).

“This partnership not only highlights Waverly’s unwavering commitment to its clients, but also marks a significant milestone in expanding Waverly’s footprint in the Southeast,” said Mac Selverian, WPCG Principal.

The acquisition of SoundPath, which closed on September 29, 2023, will increase Waverly’s total AUM to approximately $7.2 billion. Financial and legal terms of the deal will not be disclosed.

About Waverly

Waverly Advisors, LLC (“Waverly”) is a fee-only registered investment adviser that serves the investment management and wealth planning needs of a diverse group of clients, including high-net-worth individuals and families, corporate retirement plans, trusts, endowments and institutions. Waverly manages approximately $7.2 billion in assets (as of 09/30/23) and offers collaborative investment, tax, estate and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has eleven offices across the U.S. and a team of over 100 professionals who hold many of the industry’s most prestigious credentials. For more information, please visit www.waverly-advisors.com.

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded registered investment advisers and financial advisors who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. For more information, please visit www.wealthpcg.com.

About HGGC

HGGC is a leading middle-market investment firm based in Palo Alto, California, with over $6.9 billion in cumulative capital commitments. HGGC is focused on partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. More information is available at www.hggc.com.

Contacts

Robyn Schubart for Waverly Advisors

Marketing Manager

Email: robyn.schubart@waverly-advisors.com
Website: www.waverly-advisors.com