Connecticut-based RIA will receive investment to fuel acquisition-based growth
GLASTONBURY, Conn. & PALM BEACH, Fla.–(BUSINESS WIRE)–Apella Capital LLC (“Apella”), a Connecticut-based registered investment adviser (“RIA”), has entered into an agreement to form a strategic partnership to accelerate its growth through acquisition and tap into industry expertise. Apella is pleased to announce that it will receive a minority investment from Wealth Partners Capital Group (“WPCG”), a financial services holding company.
Through the entrepreneurism of Founders Pat Sweeny and Dave Connelly and the leadership of Chief Executive Officer Joshua Pace, Apella has emerged as a rapidly growing leader in the RIA industry. Apella provides wealth and investment management services for individuals, families, businesses and foundations, with eleven locations across the country and over $2.4 billion in client assets as of Sept. 1, 2021.
“Our firm was built by advisors for advisors, and we are dedicated to providing exceptional advice and creating lifelong client relationships,” said Sweeny and Connelly. “We have achieved remarkable growth over the past five years, and we seek to partner with more best-in-class advisors while continuing to offer our clients the finest of factor-based investing. We are excited about our partnership with WPCG given their proven track record of assisting partner firms in achieving their growth goals through M&A.”
A Prosperous Collaboration
In collaboration with WPCG, Apella will focus on expanding its national presence and partnering with advisory firms that are rooted in a similar investment philosophy, particularly those with a deep commitment to comprehensive financial planning. The WPCG management team will work closely with Apella as it enters its next chapter of growth.
“We continue to see significant consolidation in the RIA industry ultimately benefiting advisors and clients,” said John Copeland, Managing Partner of WPCG. “With a strong client-centric offering and a deep management bench, we believe Apella can become a leading strategic RIA acquirer. We look forward to aligning with Apella and supporting their growth objectives with the goal of sharing their exceptional client service and deep planning expertise with advisors who focus on factor-based investing.”
Apella has been strategic in its approach to growth having completed 12 acquisitions to date while experiencing strong organic growth, driven by its radio show and podcast, “Talking Real Money.”
“Through our partnership with WPCG we will be well-positioned to accelerate our growth trajectory while maintaining a steadfast dedication to clients and M&A discipline,” said Pace. “As we further expand our service offering and geographic footprint, we remain committed to bringing the best resources and expertise to our advisors and their clients.”
The transaction is subject to customary closing conditions and is expected to close by the end of Q3 2021. Financial and legal terms of the transaction will not be disclosed.
About Apella Capital
Apella Capital LLC (“Apella”) is a national registered investment adviser based in Glastonbury, CT. Built around a select community of like-minded advisors with a focus on factor-based investing and planning, Apella operates 11 offices throughout the U.S. As of Sept. 1, 2021, Apella’s assets under management and administration totaled over $2.4 billion. Apella’s advisors are dedicated to building lifelong client relationships and providing Advice for Life. For more information, please visit www.apellacapital.com.
About Wealth Partners Capital Group
Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which has invested in and partnered with some of the nation’s leading wealth management firms: EP Wealth Advisors, MAI Capital Management, Forbes Family Trust, Merit Financial Group and Apella Capital. WPCG assists its partner firms by identifying and integrating like-minded wealth advisory firms who are seeking access to expanded business capabilities, strategic growth and customized transition solutions. The WPCG management team is led by partners John W. Copeland, Rich Gill and Sean Bresnan. For more information, please visit www.wealthpcg.com.