Waverly Advisors Acquires NBW Capital, LLC

Waverly enters a new market in Massachusetts

Waverly Advisors, LLC (“Waverly”), a federally registered investment adviser (“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 acquired NBW Capital, LLC ("NBW"), an investment advisory firm located in Boston, Massachusetts. The partnership will add approximately $500 million in assets under management (“AUM”) to the firm and is integral to enhancing Waverly’s equity strategy management capabilities, and offerings.

Founded in 1991, NBW has a rich history of serving high-net-worth clients in Boston for over 30 years. Under the leadership of Chris Blakely, the NBW team manages portfolios utilizing a well-defined, disciplined approach to asset allocation based on independent investment insight. Chris will serve as Partner, Regional Director of Boston, and Portfolio Manager at Waverly. The entire NBW team joins Waverly, with the exception of Ben Niedermeyer who is retiring after nearly 50 years in the investment management industry in conjunction with the transaction.

“We are thrilled to partner with Waverly and benefit from additional services and investment options,” said Chris. “These resources, along with Waverly’s extensive expertise and established infrastructure, will enhance our clients’ experience.”

“Waverly’s M&A initiative has always focused on building a cohesive, integrated firm that delivers a world-class, service-oriented client experience,” said Justin Russell, President and CEO of Waverly. “By partnering with NBW, Waverly is able to strengthen its existing equity strategy and offer clients a more sophisticated investment portfolio approach.”

The acquisition of NBW marks Waverly’s 24^th transaction since accepting an equity investment in December 2021 from Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform. The transaction closed on March 28, 2025.

"This partnership will expand Waverly’s reach into its 16^th state across the U.S. and fourth new market of 2025," said Mac Selverian, Partner at WPCG. "We expect continued significant momentum for Waverly’s M&A initiative."

Rick Adler of Red Arrow Capital was NBW’s advisor on the transaction. Financial and legal terms of the deal will not be disclosed.

About Waverly

Waverly Advisors, LLC (“Waverly”) is a fee-only federally 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 offers collaborative investment, tax, estate, and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has 38 offices across the U.S. and a team of over 290 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 wealth advisers who seek access to expanded business capabilities, strategic growth and/or customized transition solutions. For more information, please visit www.wealthpcg.com.

About HGGC

HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M - $1.5B+. The firm is based in Palo Alto, CA and manages over $6.9 billion in cumulative capital commitments. Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. For more information, including a complete list of current and former investments, please visit www.hggc.com.

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"This partnership will expand Waverly’s reach into its 16th state across the U.S. and fourth new market of 2025," said Mac Selverian, Partner at WPCG. "We expect continued significant momentum for Waverly’s M&A initiative."