Waverly Advisors Acquires Derbend Asset Management


May 29, 2024

On May 21, 2024, Waverly Advisors, LLC announced that it acquired Derbend Asset Management.

Waverly Advisors, LLC (“Waverly”) announced on May 21, 2024, that it acquired Derbend Asset Management (“Derbend”) in a transaction that closed on May 17, 2024. Chip Beard, Derbend’s founder, and Brian Chustz along with the entire Derbend team will join Waverly. Further terms of the transaction were not disclosed.

Waverly, based in Birmingham, Alabama, is a registered investment advisor serving high-net-worth individuals, corporate retirement plans, and institutional clients. As of May 2024, Waverly had approximately $11.6 billion in assets under management.

Derbend, based in Peachtree City, Georgia, is an investment advisory business providing investment, legal, tax, and financial planning services to individuals and small businesses. Derbend had approximately $310 million in assets under management.

To read the press release: please click here.

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