WA Asset Management, a registered investment advisor, acquired Clark Financial Advisors, an investment management and financial services firm. The deal closed on March 31, 2022 and will expand WAAM’s assets under management by approximately $270 million. The acquisition will be WAAM’s first since Wealth Partners Capital, a financial service holding company, invested in WAAM in Dec. 2021. The financial terms were not disclosed.

This acquisition will grow WAAM’s presence in CFA’s headquarters in Birmingham, Alabama and upscale its investment management and financial planning capabilities. Upon the closing of the acquisition, the CFA team will join WAAM and the CFA client base will gain access to WAAM’s resources.

CEO of WAAM Josh Reidinger said, “We built our firm on a commitment to our clients and one another, prioritizing these relationships and supporting clients in meeting their short- and long-term financial goals. As we grow, it is important that we align with firms who share this philosophy, and we are pleased to have found that in Brooks and his team. This acquisition provides a solid foundation to facilitate future growth across the southeast.”