Waverly Advisors Acquires FL-Based Fiduciary Wealth Advisors
Waverly Advisors, a Birmingham, Ala.-based registered investment advisor with more than $16.9 billion in assets under management, has acquired its sixth office in Florida with Fiduciary Wealth Advisors.
FWA, founded by Scott Collins in 2014, is based in Sarasota and manages about $110 million in client assets. The firm specializes in investment management, financial planning and wealth management, corporate retirement plans and institutional client advisement. Collins will join Waverly as a partner and wealth advisor.
The acquisition is Waverly’s 25th since an equity investment in December 2021 from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform.
Tyler Nunnally with Nunnally International Inc. advised FWA on the transaction.
Uptick Brings on Another Ex-Edward Jones Advisor
Uptick Partners, an RIA platform launched by former Edward Jones advisors last year, has snagged another advisor from Edward Jones.
Matthew Fitzgerald will be based in Sedona, Ariz., with Holistic Planning, the Nacogdoches, Texas-based RIA of the Uptick platform’s founders. He will work with clients in investment management, tax planning and preparation and estate planning. Fitzgerald previously managed $100 million in client assets for the St. Louis-based Edward Jones.
Fitzgerald is the sixth advisor to join Uptick’s platform, which was founded by former Edward Jones advisor Steve Barber, his son Jason Barber and Taylor Pankartz. They created Uptick after founding their own RIA, Holistic Planning.
“We want to partner with people who want to grow,” Barber told WealthManagement.com. “We are not a good fit for people who are lifestyle practices that are happy with where they are. We are for advisors sitting at $100 million who want to get to $200 million and more.”
Fitzgerald will receive a 100% payout until his income returns to its original level.
Grand-Jean Capital Management Joins First Manhattan
First Manhattan, a New York City-based RIA with over $34 billion in AUM, has acquired a San Francisco-based advisory with over $500 million in AUM.
Grand-Jean Capital Management was founded in 1990 by Steven Grand-Jean, who will join First Manhattan as a managing director and portfolio manager. Grand-Jean had been a general partner and managing director at Salomon Brothers and a general partner at Montgomery Securities, leading its M&A division.
First Manhattan’s “independent structure, research-driven investment approach, and unwavering focus on client success make it the ideal place for us to continue meeting the high standards our clients expect,” Grand-Jean said in a statement.
Merit Joins Fidelity’s Advisor Referral Program
Merit Financial Advisors, based in Atlanta, has been added to Fidelity’s Wealth Advisor Solutions referral program.
Merit, which has custodied with Fidelity since 2016, will have access to prospective clients interested in financial advice.
“Joining the WAS program and providing financial advice to Fidelity’s retail client base will help accelerate Merit’s mission of enriching the lives of those we serve.” Kay Lynn Mayhue, president of Merit, said in a statement.
Merit oversees about $12.3 billion in client assets, growing in part through 34 acquisitions since taking a minority investment in December 2020 from Wealth Partners Capital Group and investors led by HGGC’s Aspire Holdings platform.
Merit President Kay Lynn Mayhue will be participating in a panel discussion about the RIA of the future at WealthManagement EDGE, June 10-12, at The Boca Raton Resort. Register Now.
Carson Integrates Michigan-Based Partner RIA
Carson Group, the $41 billion RIA with a partner network, has folded in one of those firms, based in Marquette, Mich., with $314 million in AUM.
Mommaerts Mahaney Financial Services was founded by Jon Mommaerts in 1999. It will now go onto Carson Wealth’s Form ADV and rebrand to Carson Wealth in Mommaerts.
Omaha, Neb.-based Carson Group has more than 150 firms in its affiliate network but has recently made some wholly owned firms.
Alaris Acquisitions was the M&A advisor for Mommaerts.
LPL Financial Adds RIAs from Nations Financial
Two RIAs who had been with independent broker/dealer Nations Financial Group have left to join LPL Financial’s broker/dealer, RIA and custodial platforms.
Patrick and Jack Trimp of Trimp Wealth Management had been managing about $220 million in advisory, brokerage and retirement plan assets when at Nations Group, which is based in Ceder Rapids, Iowa.
Patrick Trimp became a wealth manager after a decade in the U.S. Navy and founded Trimp Wealth in 2008. Jack, Patrick’s son, joined the firm in 2019.
“We spent more than three years looking for a new partner, so you could say we really did our due diligence,” Jack Trimp said in a statement.
LPL stood out for its “integrated and open architecture platform where we can access everything with a single sign-on as well as their ongoing commitment to meeting the evolving needs of advisors,” he said.
The Trimp duo will continue to serve clients from their base in Idaho Falls, Idaho.
Crusonia Adds Two Wealth Advisors
Denver-based Crusonia Wealth Advisors has brought on two more Denver-based wealth managers to expand its team to 11.
Jason Alderson joins the RIA from Private Capital Management, a subsidiary of SouthState Bank, and has been president and chair of the Financial Planning Association of Colorado.
Madeline Kleinman was also previously at Private Capital Management, where she was a financial planner. She had previously been with Charles Schwab, where she was a financial consultant and had been in the firm’s Financial Consulting Academy program.
Crusonia Wealth has about $163 million in AUM, according to its most recent Form ADV.