Client Service Manager

Waverly acquires $1.7 billion Virginia RIA. by Ali Hibbs September 29, 2026 Birmingham, Alabama-based Waverly Advisors acquired an RIA managing about $1.7 billion, according to an announcement Tuesday. Richmond, Virginia-based Heartwood Wealth Advisors is led by Stephen T. Clarke, Edwin S. "Sid" Martin III, Wesley B. Kaufman and Benjamin F. Gurley, according to the announcement. The RIA launched in 2019 after operating as an independent practice affiliated with Wells Fargo's independent Financial Network channel. It has nine support staff. Terms of the deal, which closed on Friday, were not disclosed. Heartwood is the seventh acquisition announced by Waverly this year and 36th since private equity firms HGGC and Wealth Partners Capital Group bought a stake in 2021. Clarke, Martin and Kaufman began their careers with Merrill Lynch in the mid-1990s and founded their independent practice with FiNet in 2013, according to registration records. The group managed nearly $350 million in client assets at the time, according to an announcement. Gurley joined the group in 2016 after working in private equity and investment banking, according to his LinkedIn profile. Clarke, Martin and Kaufman dropped their brokerage licenses when they left Wells to launch the RIA, while Gurley was registered as a broker with Purshe Kaplan Sterling from 2021 until the deal closed. "Our clients will continue working with the people they know and trust, now supported by the broader Waverly team," Martin said in a statement, Heartwood custodies client assets with BNY's Pershing, which is one of multiple options offered at Waverly, according to the firms' Form ADV brochures. Team members did not immediately respond to requests for comment. Other Waverly deals this year include $3.1 billion TruWealth Advisors in the New Orleans area in April and Pittsburgh-based $3 billion Smithfield Trust Company in June. Waverly oversees about $36.5 billion in client assets, as of September 25, according to its website. The broker stole the money through 10 unauthorized transfers from clients' brokerage accounts to an outside company he owned, Finra said. Sep 29, 2026 Sep 25, 2026 Sep 24, 2026 Sep 23, 2026 Sep 22, 2026

How Alabama Family Trust invests funds for families. At Alabama Family Trust, its number one commitment is protecting your loved one's quality of life - today, tomorrow, and for as long as possible. One of the most important parts of that protection is how the funds inside a trust are invested. To make sure families receive professional investment management, Alabama Family Trust partners with Waverly Advisors, a nationally respected investment advisory firm with deep experience in fiduciary management. Professionally Managed. Transparent. Customizable. "We help explain the investment options available for each trust," says Evan Lichter, CFO of Alabama Family Trust. "Families can choose from conservative options like cash and high-quality bonds or take more risk depending on their own goals for growth over time." Whether a family prefers the safest stability available or wants to build a long-term investment strategy using a blend of stocks and bonds, those choices are made together with guidance from Waverly Advisors and AFT. Investments are placed only with reputable, well-known companies and funds. Every family receives: * Professionally managed portfolios through Waverly Advisors * Monthly statements * Full transparency into holdings * 24/7 secure online access to view trust account balances anytime "We want families to see exactly where their money is at any point," Lichter adds. Helping Families Understand What's Possible For many family members, the transition into long-term care can happen fast and is often emotional and overwhelming. "A lot of families are taken aback by healthcare costs," explains Melanie Nichols of Waverly Advisors. "They've had to put their loved one into a nursing home, which is sad already. Being able to help them see the benefit of placing money into a trust, knowing it can be stewarded well and last - that is such meaningful work." Nichols says part of Waverly's role is also being a calm, steady voice when the unexpected happens such as stock market headlines, economic worries, or uncertainty. "They see something on the news and they panic," she says. "We want to be the phone call. We want them to reach out and say, 'Help me understand this. Do I need to change anything?' We walk alongside families so they feel confident about the decisions they've made." The bottom line Families who choose Alabama Family Trust don't do this alone. They receive real investment options, professional management through Waverly Advisors, and the ability to see and understand where their trust funds are at all times. Because protecting quality of life in the future begins with wise stewardship today.