Waverly Advisors, LLC (“Waverly”), a federally registered investment adviser (“RIA”) that specializes in investment management, financial planning and wealth management services for high-net-worth individuals, families, corporate retirement plans and institutional clients, has acquired Heartwood Wealth Advisors (“Heartwood”), a wealth management firm based in Richmond, Virginia with approximately $1.7 billion in assets under management (“AUM”) (as of 9.22.2026). The acquisition strengthens Waverly’s presence in Virginia and enhances the firm’s ability to serve individuals, families and business owners with complex financial needs.

Founded in 2013, Heartwood was built on a foundation of personalized service, collaboration and transparency. Heartwood is led by Steve Clarke, Sid Martin, Ben Gurley and Wes Kaufman and supported by a team of nine professionals, all of whom will join Waverly.

Heartwood’s name refers to the stable wood at the center of a tree. In a living tree, heartwood provides structural support that allows it to grow and flourish, reflecting the firm’s belief that lasting strength and integrity are developed with discipline over time. That philosophy closely aligns with Waverly’s identity, inspired by an aspen grove whose individual trees are connected beneath the surface by a shared root system. Both firms are built on strong foundations, meaningful connections and a long-term commitment to the clients, employees and communities they serve.

“Heartwood and Waverly are grounded in many of the same principles,” said Justin Russell, President and CEO of Waverly. “Those values are reflected in the enduring client relationships and collaborative cultures that define both organizations. We are proud to welcome the Heartwood team to Waverly and look forward to building on that shared foundation.”

“Heartwood has always been focused on understanding the full picture of our clients’ financial lives and providing thoughtful, highly personal advice,” said Sid Martin. “Joining Waverly allows us to preserve that approach while bringing additional resources and expertise to the families and business owners we serve. Our clients will continue working with the people they know and trust, now supported by the broader Waverly team.”

“As we considered the next chapter for Heartwood, we were looking to join an organization that shared our values and could help us continue to grow,” said Ben Gurley. “Joining Waverly allows us to remain rooted in Richmond while expanding the ways we can serve clients in the years ahead.”

The acquisition of Heartwood marks Waverly’s 36th 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 September 25, 2026.

“Heartwood is an outstanding addition to the Waverly platform,” said Mac Selverian, Partner at WPCG. “This acquisition adds meaningful scale and talent while further positioning Waverly for continued growth across the Mid-Atlantic region.”

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 manages approximately $36.5 billion in assets (as of 9.25.2026) and offers collaborative investment, tax, estate and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has over 50 offices across the U.S. and a team of over 500 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 supports its partners’ growth by providing capital, organic growth opportunities and strategic M&A expertise, identifying and evaluating wealth advisory practices for its partners to acquire and integrate. 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 is 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. The Firm is based in Palo Alto, Calif. and manages over $10 billion in assets under management as of June 30, 2026. More information, including a complete list of current and former investments, is available at www.hggc.com.

Disclosure: Waverly is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Waverly, including investment strategies, fees and objectives can be found in Waverly’s ADV Part 2A Brochure, which remains available upon request or by visiting Waverly’s website at https://waverly-advisors.com/adv-part-2a-brochure.

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