Core Insights - Verdence Capital Advisors, a registered investment adviser based in Hunt Valley, Maryland, has sold a majority stake to Wealth Partners Capital Group and HGGC to enhance strategic M&A initiatives, organic growth, and client resource expansion [1] Group 1: Transaction Details - Emigrant Partners, a former minority stakeholder, has divested its position in Verdence, which it initially acquired in 2021 when Verdence had approximately $2.5 billion in assets under management (AUM) [2] - The deal is expected to close in April 2026, allowing CEO Leo Kelly and other employee stakeholders to retain a "significant share" of the firm, marking it as a "strategic partnership" [3] Group 2: Company Background - Verdence was founded in 2017 by Leo Kelly and has since expanded its services to include financial planning, family office services, and an RIA platform that offers back-office support, investment research, and private market opportunities [3] - The firm operates additional locations in Alexandria, Virginia; Boston, Massachusetts; Naples, Florida; and Sarasota, Florida, catering to high-net-worth individuals, families, executives, and business owners [4] Group 3: Advisory and Stakeholder Information - Fenchurch Partners provided advisory services to Verdence during the transaction [4] - Wealth Partners Capital Group and HGGC also hold a majority stake in Waverly Advisors, which manages $30.4 billion in AUM, along with minority stakes in other firms [4]