Maryland-based RIA to Receive Investment to Accelerate Growth

Verdence Capital Advisors, LLC (“Verdence”), a Maryland-based registered investment adviser (“RIA”), today is excited to announce it will enter into an equity partnership with Wealth Partners Capital Group (“WPCG”), a financial services holding company, and HGGC, a values-driven, partnership-focused middle-market private equity firm. WPCG and the Aspire Holdings platform of HGGC will make an equity investment in Verdence to support the firm’s strategic M&A initiatives, organic growth and expansion of client resources. The management team of Verdence will remain significant shareholders as part of the transaction.

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Founded in 2017, Verdence is a private wealth advisory and multi-family office headquartered in Hunt Valley, Md. with additional locations in Alexandria, Va., Boston, Mass., Naples, Fla. and Sarasota, Fla. Verdence operates an integrated platform spanning wealth management, financial planning and family office services, along with its RIA+ platform which provides independent advisors with back-office support, investment research and private market opportunities. The firm combines institutional-quality investment capabilities with a client-centric approach, serving high-net-worth individuals, families, executives and business owners. As of December 31, 2025, Verdence had approximately $4.6 billion in assets under management.

“We could not be more excited to partner with WPCG and HGGC for our next phase of growth,” said Leo Kelly, Chief Executive Officer of Verdence. “WPCG’s track record is exceptional and we are proud to be one of the few RIAs with whom they have partnered. Our firms share a client‑first philosophy and a belief that disciplined growth strengthens our culture, expands our capabilities and enhances the experience we deliver to clients. From our first meeting with WPCG and HGGC, it was clear this was the right partnership.”

Thomas New, President of Verdence, added, “We are confident this partnership will allow us to continue growing the Verdence brand while preserving the culture and values that define our firm.”

“Verdence is a firm with an impressive track record anchored by strong leadership and a deep commitment to clients,” said John Copeland, Managing Partner of WPCG. “The breadth of the platform across private wealth, family office and advisor services reflects the strength of the business that Leo and his partners have built. We are excited to support the team as they continue to serve more clients with more capabilities across a growing footprint.”

“We have long admired Verdence’s thoughtful approach to platform expansion and appreciate the firm’s deep commitment to protecting and stewarding the financial lives of its clients,” said HGGC. “We look forward to partnering with WPCG and the entire Verdence team in support of the continued growth of the business.”

As part of the transaction, Emigrant Partners, LLC is selling its stake in Verdence. “Verdence has experienced significant growth since our initial investment in 2021, and we’ve had the opportunity to partner with Leo and the team on a wide range of organic and inorganic initiatives,” said Jenny Souza, President & CEO of Emigrant Partners. “They have strategically expanded their national footprint, broadened their capabilities and built a robust technology platform over the last five years – and we look forward to seeing how Verdence will continue to grow and build off of this foundation.”

The transaction is subject to customary closing conditions and is expected to close in April 2026. The financial and legal terms of the transaction will not be disclosed.

Fenchurch Partners, LP and Alston & Bird, LLP served as the financial advisor and legal counsel to Verdence, respectively.

About Verdence Capital Advisors

Verdence Capital Advisors (“Verdence”) is a private wealth advisory and multi-family office headquartered in Hunt Valley, Md. with additional locations in Alexandria, Va., Boston, Mass., Naples, Fla. and Sarasota, Fla. Verdence is committed to the principle that advice should be transparent, customized, and given without bias; true independence is one of the guiding principles of Verdence. Verdence had approximately $4.6 billion in assets under management as of December 31, 2025. For more information, please visit www.verdence.com.

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG supports its partners’ growth by providing capital, organic growth opportunities and strategic M&A expertise, identifying and evaluating wealth advisory practices for its partners to acquire and integrate. For more information, please visit www.wealthpcg.com.

About HGGC

HGGC is a values-driven, partnership-focused private investment firm. The Firm’s ecosystem of investors, operators, and professionals is united by the shared mission to develop leading enterprises and build long-term value together. HGGC invests in technology, business services, financial services, and consumer enterprises. The Firm is based in Palo Alto, CA and manages over $10 billion in assets under management (as of December 31, 2025). More information, including a complete list of current and former investments, is available at www.hggc.com.

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