By Strong Start to the New Year as Deals Continue
Registered investment advisors (RIAs) have experienced a slowdown in mergers and acquisitions since the second half of 2023. However, the beginning of 2024 has already seen a surge of activity, with several significant announcements.
Waverly Advisors Expands with StrategIQ Financial Group Acquisition
Birmingham-based RIA, Waverly Advisors, recently completed its acquisition of StrategIQ Financial Group, a distinguished Indiana practice managing $1.5 billion in assets. The transaction, finalized on January 1st, has catapulted Waverly’s total assets under management to an impressive $9.8 billion.
This deal marks Waverly’s largest acquisition since it received an equity investment from Wealth Partners Capital Group in 2021, fueling its expansion and initiating a robust M&A campaign. Since the equity infusion in December 2021, Waverly has successfully completed eleven acquisitions.
According to Mac Selverian, Principal at WPCG, “Waverly’s partnership with StrategIQ represents a significant milestone for the firm as it approaches the $10 billion AUM threshold. 2023 has proven to be an exceptionally prosperous year for Waverly, with seven successful acquisitions across seven states. We enter 2024 with this outstanding partnership.”
Dakota Wealth Management Pursues Expansion with C2C Wealth Management Purchase
Florida-based RIA, Dakota Wealth Management, has announced its intent to acquire C2C Wealth Management, an advisor practice located in Mansfield, Mass. C2C manages $350 million in client assets and advises on an additional $550 million.
As part of the transaction, C2C’s founder, Louis Delle Valle, and Carol Donnelly, the firm’s esteemed client services associate, will join Dakota. Positioned to cater to high-net-worth individuals and families, Dakota continues to strengthen its presence in the market through strategic acquisitions.
These recent mergers and acquisitions highlight the continued momentum driving the growth and expansion of registered investment advisors in 2024. With a strong start to the new year, industry professionals eagerly anticipate further developments in the coming months.
Evaluating Growth Opportunities: Dakota’s Latest Acquisition
Dakota, a prominent player in the mergers and acquisitions (M&A) scene, recently announced its fourth deal since June 1, further expanding its presence in Massachusetts. For business owner Della Valle, the decision to partner with Dakota was a carefully considered one. As her business experienced rapid growth, she found herself at a crossroads. Should she invest in expanding infrastructure and hiring additional personnel or seek a partner who already possessed these resources? Ultimately, Valle recognized the value of teaming up with Dakota.
Massachusetts is a key market for Dakota, which already maintains three offices in the state. In fact, the firm boasts an impressive network of 14 offices spread across nine states. This recent deal with Valle solidifies Dakota’s commitment to capitalizing on growth opportunities and maintaining an upward trajectory.
As this flurry of deal announcements demonstrates, businesses in the financial sector are actively pursuing growth opportunities and strategic partnerships. These moves allow firms like Dakota, Mercer Advisors, and Mariner Wealth Advisors to expand their reach, broaden their service offerings, and provide even greater value to their clients.
Comments