Waverly Advisors Acquires River Capital Advisors

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 River Capital Advisors, L.C. (“River Capital”), an investment advisory business based in Jacksonville, Florida.

River Capital was founded in 1998 as a subsidiary of Smoak, Davis & Nixon, LLP, one of the Southeast’s oldest and most respected CPA firms. Located in Florida’s largest city, the River Capital team, led by Robert Simon, brings significant growth potential to Waverly.

“Rob and his team are a dynamic group, hungry to grow and dedicated to their clients’ financial well-being,” said Justin Russell, President of Waverly. “We are thrilled to welcome them to the Waverly family.”

“River Capital was established out of the desire to help clients with all aspects of their financial lives,” said Robert Simon, President of River Capital. “Joining Waverly means we are now able to utilize a stronger infrastructure and provide even greater resources to our clients.”

The acquisition of River Capital marks Waverly’s 15^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 July 19, 2024, and increases Waverly’s AUM to approximately $12.5 billion.

“Waverly continues to enter new and thriving markets across the U.S.,” said Mac Selverian, WPCG Principal. “Partnering with like-minded RIAs that share Waverly’s cultural values adds to the success of the firm’s M&A strategy.”

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!