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Waverly Advisors

SEC-registered adviser since 2001Birmingham, ALCRD 115332

$29.9B
AUM
13,689
Clients
See fees
Fee
197
Advisory staff

From Form ADV filed 31 August 2026 · data retrieved 15 October 2026SEC record

Waverly Advisors is an investment adviser headquartered in Birmingham, Alabama, and registered with the SEC since 2001. Its clients include high-net-worth individuals, pension and profit-sharing plans, and other individuals. High-net-worth individuals account for 58% of its regulatory assets under management.

Its services include financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, and selecting other managers. Fee arrangements include a percentage of assets under management, hourly charges, fixed fees and performance-based fees. Waam Parent, LLC owns 75% or more of Waverly Advisors, and Justin Russell is its CEO.

Clients

Waverly Advisors serves 13,689 clients, 4,302 of them high-net-worth individuals. The average client has about $2.2 million with the firm, and high-net-worth clients hold 58% of its $29.9 billion in assets.

Regulatory assets by client type
  • Individuals8,621 clients13%
  • High-net-worth individuals4,302 clients58%
  • Pooled investment vehicles27 clients6%
  • Pension and profit-sharing plans453 clients16%
  • Charitable organizations81 clients3%
  • OtherCorporations and other businesses, Banking or thrift institutions, Investment companies, State or municipal government entities, Insurance companies4%
Show client breakdown
Individuals (other than HNW)
Clients
8,621
Regulatory AUM
$3,782,563,379
Share
12.7%
Avg. per client
$439K
High-net-worth individuals
Clients
4,302
Regulatory AUM
$17,410,249,473
Share
58.3%
Avg. per client
$4.05M
Banking or thrift institutions
Clients
2
Regulatory AUM
$3,931,971
Share
0.0%
Avg. per client
$1.97M
Investment companies
Clients
1
Regulatory AUM
$16,611,163
Share
0.1%
Avg. per client
$16.6M
Pooled investment vehicles
Clients
27
Regulatory AUM
$1,845,686,945
Share
6.2%
Avg. per client
$68.4M
Pension and profit-sharing plans
Clients
453
Regulatory AUM
$4,854,787,655
Share
16.3%
Avg. per client
$10.7M
Charitable organizations
Clients
81
Regulatory AUM
$823,024,641
Share
2.8%
Avg. per client
$10.2M
State or municipal government entities
Clients
1
Regulatory AUM
$14,363,130
Share
0.0%
Avg. per client
$14.4M
Insurance companies
Clients
1
Regulatory AUM
$15,646,049
Share
0.1%
Avg. per client
$15.6M
Corporations and other businesses
Clients
200
Regulatory AUM
$1,105,207,710
Share
3.7%
Avg. per client
$5.53M

Total

Clients
13,689
Regulatory AUM
$29,872,072,116
Share
100%
Avg. per client
$2.18M

What it does

Waverly Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers. It is paid through a percentage of assets, hourly charges, fixed fees and performance-based fees.

Waverly Advisors provided financial planning to 5,500 clients last fiscal year and advises 19 private funds.

84.4% of assets ($25.22B across 34,106 accounts) are managed with discretion; $4.65B across 1,603 accounts are not. 0% of clients are outside the U.S., and 69 clients received advice without assets under management last fiscal year.

What the accounts hold

Separately managed account assets by class, year end

The filed percentages total 101%. The values below are shown as filed.

Exchange-traded equity securities
17%
U.S. government/agency bonds
1%
U.S. state and local bonds
2%
Investment grade corporate bonds
1%
Securities issued by registered investment companies or business development companies
70%
Securities issued by pooled investment vehicles (other than registered investment companies)
9%
Cash and cash equivalents
1%

Custodians

Waverly Advisors’ client accounts are held mainly at Charles Schwab, with 56% of managed assets, and Fidelity, with 17%. Waverly Advisors has custody of $4.32B for 1,583 clients.

Managed account assets by custodian
  • Charles SchwabCharles Schwab & Co., Inc. · Westlake, TX · $16.74B56%
  • FidelityFidelity Brokerage Services LLC · Smithfield, RI · $5.11B17%
  • All other custodians$8.02B27%

Ownership and leadership

Waam Parent, LLC owns 75% or more of Waverly Advisors, and Justin Russell is its CEO.

Who owns the firm
Waverly Advisors, LLC· the adviser

  • Waam Parent, LLC

    Control person · since December 2021

    Owns 75% or more of Waverly Advisors, LLC

Leadership

  • Justin Russell
    President/Chief Executive Officer
  • James Lazenby
    Chief Financial Officer
  • Justin Snell
    Chief Operating Officer
  • Thomas Claud
    Chief Compliance Officer
  • John Cox
    Chief Economist
  • Brent Gunn
    Chief Information Officer
  • Wayne Lesage
    Chief Growth Officer
  • William McDaniel
    Chief Investment Officer

Staff

  • 414 employees
  • 197 in advisory functions
  • 192 state-registered reps
  • 7 soliciting firms

Reported holdings

Waverly Advisors’ reported 13F holdings total $17.24B across 1,751 positions, and the ten largest make up 20.4% of it.

$17.24B
Reported 13F value
1,751
Positions
20.4%
In the 10 largest
+28.7%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. iShares TR · Core S&P500 ETF5.6%
  2. Apple Inc.2.5%
  3. Vanguard Index Fds · Growth ETF2.4%
  4. Vanguard Specialized Funds · Div App ETF1.9%
  5. Nvidia Corporation1.7%
  6. Microsoft Corp.1.5%
  7. American Centy ETF TR · US Sml CP Valu1.3%
  8. Vanguard Index Fds · Total Stk Mkt1.3%
  9. Invesco Exchange Traded FD T · Rafi US 1000 ETF1.1%
  10. SPDR Series Trust · ST Inter BD ETF1.1%

Together, the ten largest are 20.4% of reported value.

The 50 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 14 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $17.24B is not its $29.87B in regulatory assets and does not represent any individual client's portfolio.

Fees

Waverly Advisors is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees) and performance-based fees.

Waverly Advisors’ fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Waverly Advisors has 48 offices, with 26 listed addresses across 16 states.

Listed office addresses by state

Alabama · 2 listed addresses

  • 600 University Park Place, Suite 501, BirminghamHQ
  • 101 Monroe Street Ne, Huntsville

Other business names

Waverly Advisors has reported 2 other business names to the SEC.

  • 401k Complete
  • Promus

Registration details

Legal name
Waverly Advisors, LLC
Headquarters
600 University Park Place, Suite 501, Birmingham, AL 35209
Phone
205-871-3334
Website
www.waverly-advisors.com
SEC file
801-60741
Structure
Alabama LLC
Fiscal year end
December

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Waverly Advisors have?

Waverly Advisors has 13,689 clients and manages $29.9 billion for them, as of August 2026. They include 8,621 other individuals, 4,302 high-net-worth individuals and 453 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 31 August 2026

What services does Waverly Advisors offer?

Waverly Advisors provides financial planning, portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

Which custodians does Waverly Advisors use?

Waverly Advisors’ separately managed account assets are held at Charles Schwab & Co., Inc. (Westlake, TX), with $16,743,246,015 and Fidelity Brokerage Services LLC (Smithfield, RI), with $5,110,255,706. Only custodians holding at least a tenth of those assets are named.

Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 31 August 2026

How many financial advisors does Waverly Advisors have?

Waverly Advisors has 192 investment adviser representatives registered with state securities authorities, out of 414 employees, and 197 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

What does Waverly Advisors invest in?

At the end of its last fiscal year, Waverly Advisors’ separately managed accounts held 70% registered funds (mutual funds, ETFs, BDCs), 17% exchange-traded equities, 9% pooled vehicles (private funds and similar), 2% state and local bonds, 1% U.S. government and agency bonds, 1% investment grade corporate bonds and 1% cash and equivalents. It advises 19 private funds.

Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file

Who owns Waverly Advisors?

Waverly Advisors is owned through a chain of holding companies by Aspire Holdings, LLC. Its direct owner is Waam Parent, LLC (75% or more).

Source: Form ADV Part 1A, Schedules A and B, filed 31 August 2026

How does Waverly Advisors get paid?

Waverly Advisors is paid through a percentage of assets under management, hourly charges, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 31 August 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 115332.
  3. Form 13F-HR, filed 14 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Waverly Advisors, LLC and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.