Waverly Advisors Acquires InVista, Adding $443M AUM
Waverly Advisors, an acquisitive Birmingham, Ala.-based registered investment advisor, has acquired InVista Advisors, a hybrid RIA previously affiliated with LPL Financial in Montgomery, Ala.
InVista had about $443 million in client assets under management, according to a recent Form ADV.
“InVista has built an outstanding reputation within the Montgomery market,” said Waverly President and CEO Justin Russell said in a statement. “This acquisition expands Waverly’s presence in Alabama and strengthens the firm’s ability to serve clients across the state, while bringing together two firms that share a deep commitment to people, planning and long-term growth.”
InVista’s team has joined Waverly and dropped its LPL affiliation. That includes partners and wealth managers Carl “Brandt” McDonald Jr., Austin and Michael Barranco, wealth advisors Lisa Free and Mary Kathryn Smith, and Associate Wealth Advisor Chad Conoly. Senior client service associates Jacqueline Costner and Tina McDowell have also joined Waverly.
On its website, InVista said it decided to join Waverly to expand the resources and services available to clients.
“This transaction marks a defining new chapter—one that expands opportunities for our employees and deepens our commitment to the clients we serve,” Michael Barranco said in a statement. “Waverly’s proven track record of growth and collaboration made them the clear choice as our long-term partner, and we look forward to everything we can accomplish together.”
This follows Waverly’s June acquisition of WealthPlans and its affiliate, Cooley & Associates, adding approximately $250 million in assets. That transaction brought Waverly’s total assets to $35.5 billion.
Waverly manages assets for high-net-worth individuals and families, corporate retirement plans, trusts, endowments and institutions, and has 52 offices across the U.S. and a team of over 450 professionals.
