Berkshire Global Advisors acted as financial advisor to Warren Averett Asset Management
Founded in 1999 in Birmingham, Alabama, as a wholly-owned subsidiary of Warren Averett CPAs & Advisors, Warren Averett Asset Management (“WAAM”) serves a diverse group of clients including high net worth individuals, families, corporate retirement plans, trusts, endowments and institutions. WAAM manages more than $4 billion in assets and offers collaborative investment, tax, estate and financial planning services. The company currently has seven offices across the Southeast and a team of over 40 professionals holding many of the industry’s most prestigious credentials.
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 assists its partner firms by identifying and integrating like-minded registered investment advisers who are seeking access to expanded business capabilities, strategic growth and customized transition solutions.
HGGC is a leading middle-market investment firm based in Palo Alto, Calif. with over $5.6 billion in cumulative capital commitments. HGGC is focused on partnerships with management teams, founders and sponsors who reinvest alongside HGGC, creating a strong alignment of interests. Since its inception in 2007, HGGC has invested in a variety of opportunities, including those in financial services and wealth management.
The management team of WAAM will remain meaningful shareholders as part of this transaction and the parent company, Warren Averett CPAs & Advisors, will retain a minority stake. The partnership with WPCG and HGGC will allow WAAM to continue both its organic growth and its expansion via M&A. WAAM is focused on acquiring like‐minded wealth management firms and advisors, with a particular emphasis on those firms with a CPA‐orientation and a location in the Southeast, where WAAM already enjoys a strong regional presence and a history of successful M&A.