Credit: Gerd Altmann from Pixabay.

Wealth Partners Capital Group (WPCG) has made a minority investment in Connecticut-based registered investment adviser (RIA) Apella Capital.

The financial details of the transaction were not divulged.

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The investment will enable Apella to accelerate its M&A strategy as the RIA seeks to expand its presence in the country. To date, Apella has completed 12 acquisitions.

In the next stage of growth, Apella will focus on partnering with advisory firms that have similar investment philosophy.

WPCG managing partner John Copeland said: “We continue to see significant consolidation in the RIA industry ultimately benefiting advisors and clients.

“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.”

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Apella offers wealth and investment management services to individuals, families, businesses and foundations.

The company had around $2.4bn in client assets and 11 locations across the country, as of 1 September 2021.

Apella CEO Joshua Pace said: “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.

“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 expected to close by the end of this quarter, subject to customary closing conditions.

Earlier this year, WPCG backed Georgia-based hybrid RIA Merit Financial Group.