No commissions, no ads, no advice. This Waverly Advisors profile draws only on public records, each linked so you can confirm it yourself.
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Check the SEC adviser record. Open the SEC's IAPD record for Waverly Advisors (CRD #115332) and confirm its registration.
Read the filings. Review the Form ADV / Form CRS and any disclosure section linked from the IAPD page.
Confirm the entity. Match CRD #115332 / Waverly Advisors so you're reading the right firm.
The short answer: is Waverly Advisors a fiduciary?
Yes. Waverly Advisors is a fiduciary. As a fee-only registered investment adviser, it owes you a duty to act in your interest for the whole advisory relationship, and it isn't a broker-dealer. Waverly Advisors is an SEC-registered investment adviser (CRD #115332) and reported $29.9 billion in regulatory assets under management as of its latest Form ADV (filed August 31, 2026). That money belongs to 13,689 clients by its Item 5.D count, holding 35,709 accounts, and about 58% of it is held for high-net-worth clients. Because it's fee-only, it's paid by clients and earns no commissions on products. Everything that matters here is on the public record, and you can check it in a few minutes.
Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer, so the adviser's fiduciary standard is the one that applies to its advice.
What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)
Waverly Advisors at a glance
✅ Verified from public filings, last checked October 5, 2026. Waverly Advisors (SEC CRD #115332) is a fiduciary for the whole advisory relationship, on a fee-only basis, with $29.9 billion in regulatory assets under management. Every figure below links to its primary source.
What | Waverly Advisors | Source |
|---|---|---|
SEC CRD | #115332 | |
Registration | Registered investment adviser (RIA), not a broker-dealer | |
Registered since | November 30, 2001 (SEC) | |
Fiduciary? | Yes, for the whole advisory relationship (fee-only RIA) | |
Fee model | Fee-only | Form ADV Item 5.E |
How it's paid | A percentage of assets under management, hourly charges, fixed fees, and performance-based fees | Form ADV Item 5.E |
Regulatory Assets Under Management | $29.9 billion (Form ADV filed August 31, 2026) | |
Clients | 13,689 (Item 5.D, by client type) | |
Client accounts | 35,709 (34,106 discretionary) | |
Employees | 414 (197 in advisory roles) | |
Ownership | Parent-owned | |
Disclosures | Form ADV answers No to firm-level disciplinary questions | |
HQ | Birmingham, AL |
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Waverly Advisors fees: what you'll pay
The firm is fee-only: according to its Form ADV (2026), Item 5.E, clients pay it through a percentage of assets, hourly charges, fixed fees and performance-based fees, with no commissions. That structure avoids commission conflicts. Fee-only doesn't automatically mean low-cost. It means the cost is the advisory fee, stated plainly.
The item on that list worth a direct question is performance-based fees. Part 2A describes how Waverly discloses and manages the conflicts a performance-based fee can create. Our recommendation: before you sign, ask which of the four pay methods applies to your account, and get the rate in writing. (How fee-only pricing works · Why "too much" may be the wrong question)
Fee-only means the firm is paid only by its clients, never by commissions on the products it recommends.
Who owns Waverly Advisors, and what conflicts does it disclose?
According to Schedule A of its Form ADV, Waverly Advisors is owned by Waam Parent, LLC. (Form ADV Schedule A)
Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.
Waverly Advisors SEC record: disclosures
Waverly's firm-level record takes one page of its filing to check. On its Form ADV, Waverly Advisors answers No to the firm-level disciplinary-history questions. You can confirm that on the public record. Individual advisers can have their own records, so look them up on IAPD and FINRA BrokerCheck too. Any Waverly Advisors disclosures sit on the public record, not on anyone's characterization of them.
On the record, it has been registered with the SEC since November 30, 2001, makes notice filings in 51 jurisdictions, and reports 414 employees. Of those, 197 (about 48%) work in investment advisory roles. Waverly Advisors' legitimacy as a regulated firm is easy to confirm: it has a public CRD and public filings anyone can pull. Registration shows it's a real, regulated adviser, not that it's the right fit for you.
Reading Waverly Advisors reviews against the public record
Star ratings and client comments describe what working with a firm felt like. They usually don't show what the firm reports to regulators. Before you weigh Waverly Advisors reviews, check three things this profile takes from the public record. First, how the firm is paid: it reports being paid only by its clients and takes no commissions, which makes it fee-only. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.
How to verify Waverly Advisors yourself
Want to check it yourself? Three steps:
SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/115332.
Form ADV / CRS: linked from the IAPD page.
Confirm the entity: match Waverly Advisors (CRD #115332) so you're reading the right firm.
What Waverly Advisors does and who it serves
On its Form ADV, Waverly Advisors reports providing financial planning, portfolio management for individuals and small businesses, portfolio management (investment companies), portfolio management (pooled vehicles), portfolio management for businesses and institutions, pension consulting, and selection of other advisers.
It reports providing financial planning to about 5,500 clients in its last fiscal year (Form ADV Item 5.H), a count the form keeps separate from the client totals below.
Its Form ADV (Item 5.D) breaks its clients down by type, 13,689 in all:
Client type | Clients | Assets managed |
|---|---|---|
Individuals | 8,621 | $3.78 billion |
High-net-worth individuals | 4,302 | $17.41 billion |
Banking or thrift institutions | 2 | $3.9 million |
Investment companies | 1 | $16.6 million |
Pooled investment vehicles | 27 | $1.85 billion |
Pension and profit-sharing plans | 453 | $4.85 billion |
Charities | 81 | $823 million |
State or municipal government entities | 1 | $14.4 million |
Insurance companies | 1 | $15.6 million |
Corporations or other businesses | 200 | $1.11 billion |
Read by assets rather than headcount, the table tells a different story. Individuals and high-net-worth individuals make up about 94% of clients. Yet high-net-worth clients alone hold about 58% of the $29.9 billion, roughly $4 million each on average, against under $450,000 for other individuals. Pension and profit-sharing plans add about 16%.
The 13,689 figure counts clients. The 35,709 in Item 5.F counts accounts, about 2.6 per client, since many clients hold more than one. Of those accounts, 34,106 (about 95.5%) are discretionary, meaning the firm can trade without seeking your approval first, and 1,603 are non-discretionary. Its main office is in Birmingham, AL.
It reports that it or a related person has custody of certain client assets, which brings extra safeguards such as surprise examinations. The specifics are in its Form ADV.
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Great advice runs on the truth. Here's how to bring yours to the table.
Waverly's filing describes 35,709 accounts, but only the ones it manages show up on its side of the desk. The held-away 401(k), a spouse's accounts and fund costs that never reach a statement usually arrive in pieces, none of it reconciled. This is where Truthifi comes in.
How Truthifi can help
Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Waverly Advisors.
Prefer your own AI? Per Truthifi's pricing page, paid Truthifi plans let you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant. Questions about your fees need Monitoring or Monitoring Plus+.
Ask AI about your Waverly Advisors accounts
Once your accounts are connected read-only, you can ask in plain English:
"What do I own across my Waverly Advisors accounts and everything else, and how is it allocated?"
"What am I paying in fees across all of these accounts?"
Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).
No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Monitoring Checkup is free. Per Truthifi platform data, Monitoring Checkup links up to 10 connections. Plans and limits are on the pricing page → truthifi.com.
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FAQ
Is Waverly Advisors a fiduciary? Yes. It's a registered investment adviser (CRD #115332), so it owes a fiduciary duty when it advises you. Its Form ADV doesn't report a broker-dealer registration or a related broker-dealer.
Is Waverly Advisors fee-only? Its Form ADV (Item 5.E) doesn't report commissions as compensation. It's paid by clients through fees such as a percentage of assets, hourly or fixed fees. The fee schedule is in its Form ADV Part 2A.
Who owns Waverly Advisors? Waverly Advisors is owned by Waam Parent, LLC, as listed in Schedule A of its Form ADV.
Does Waverly Advisors have complaints or disclosures? Its Form ADV answers No to the firm-level disciplinary-history questions. Individual advisers can have their own records on IAPD and BrokerCheck.
Is Waverly Advisors legit? Waverly Advisors is registered with the SEC (CRD #115332) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.
Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.
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About this profile
Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.
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A note on sources. The facts on this page come from publicly available documents, Waverly Advisors' SEC filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Waverly Advisors. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com. One thing no filing can show is how your own accounts at the firm are positioned, and that part of the record only you can bring.
Disclaimer: This article is for educational purposes only and does not constitute financial, tax, or legal advice. It should not be construed as a personalized recommendation regarding any investment, financial advisor, or financial product. All calculations use hypothetical scenarios and historical return assumptions; actual results will vary. Past performance does not guarantee future results. Consult a qualified financial professional for guidance specific to your situation. Truthifi is an investment monitoring platform — not a financial advisor, broker-dealer, or tax professional. Truthifi does not manage assets, recommend investments, sell financial products, or provide personalized financial advice. Truthifi earns no revenue from advisor referrals, product commissions, or AUM fees. Statistics and data cited reflect publicly available sources current as of the article’s publication date. Sources are linked throughout.