Waverly Advisors has bolstered its Ohio footprint with the purchase of investment advisory business Buckingham Advisors.
The move broadens Waverly’s US presence with four additional locations, expanding its Ohio network to seven locations.
Financial details regarding the transaction were not shared.
Established in 1987 by Jay Buckingham, Dayton-based Buckingham Advisors provides comprehensive tax and financial planning with investment management for high-net-worth families and business owners.
Jay Buckingham, along with his team of 38 professionals, will now be part of Waverly.
Jay said: “By joining Waverly our firm gains significant resources and infrastructure which will allow our team to concentrate on what matters most, our clients. In addition, we are excited to contribute substantially to a new service line for the firm.”
With the acquisition, Waverly adds over $900m in assets to its books, boosting its total assets under management to nearly $15.5bn.
Jay Buckingham will assume the role of Regional Director at Waverly, working alongside Jeff Groezinger.
Jeff will also take on the role of managing director of Waverly Business Services, a new division offering enhanced tax planning, tax preparation, and business services to clients.
Waverly president Justin Russell said: “Partnering with Buckingham means that Waverly gains a robust tax preparation and planning service line that will enhance our ability to serve our high-net-worth clients.
“Jay has built a team of talented professionals, and we are thrilled to welcome them to Waverly.”
The latest purchase marks Waverly’s 19th deal since the equity investment from Wealth Partners Capital Group (WPCG) and HGGC’s Aspire Holdings platform in December 2021.
WPCG principal Nick Trepp said: “Entering the Ohio region this year has exceeded our expectations, as we have welcomed outstanding advisors, 7 new Waverly office locations and new service lines with the addition of a combined $2.1bn in AUM.
“We are thrilled to be part of Waverly’s growth strategy.”
“Waverly Advisors acquires Ohio RIA Buckingham Advisors” was originally created and published by Private Banker International, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
