Northwest Indiana advisory firm acquired
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Merrillville-based investment advisory firm StrategIQ Financial Group LLC has been acquired by Waverly Advisors LLC in Alabama, the companies announced Wednesday.
While financial terms are not being disclosed, Waverly said the acquisition increases its assets under management by $1.5 billion.
StrategIQ was founded in 1996 by CEO Chad Hassinger and three partners. The company has more than 20 employees who will be joining the Waverly team.
“From the start, we set out to create a new kind of wealth management firm,” Hassinger said in a news release. “To help grow our organization, gain access to new markets, and expand on the wealth of services we provide, we wanted a partner that shares our values and we found that in Waverly.”
In addition to its office in Merrillville, StrategIQ has locations in the greater Chicago area and central Indiana.
Waverly said the acquisition is its largest transaction since it initiated an M&A-focused growth strategy in 2021. The firm made seven acquisitions in 2023.
“When Waverly started exploring acquisitions, our vision was to do M&A differently,” Waverly CEO Josh Reidinger said. “Waverly’s desire is to build a world-class, cohesive, and integrated firm, fully focused on its culture and its clients. The StrategIQ team aligns with that vision, and we are thrilled to have them join the Waverly family.”
With the addition of StrategIQ, Waverly’s total assets under management had grown to $9.8 billion.