Waterloo Capital Announces Investment in and Partnership with Bay Rivers Group Wealth Partners

The Williamsburg, Virginia–based advisory firm will operate as Bay Rivers Group Wealth Partners, Powered by Waterloo, and its advisors will become investment adviser representatives of Waterloo Capital — bringing institutional asset management, private markets access, advanced planning and integrated tax services to Bay Rivers Group clients while the same team continues to serve them from the same location

AUSTIN, Texas, Sept. 23, 2026 /PRNewswire/ -- Waterloo Capital, L.P., an Austin-based registered investment adviser, today announced that it has made an investment in Bay Rivers Group Wealth Partners, a wealth management firm headquartered in Williamsburg, Virginia, and that the two firms have decided to partner moving forward. Effective September 15, 2026, the Bay Rivers Group team will operate as Bay Rivers Group Wealth Partners, Powered by Waterloo, and its advisors will become investment adviser representatives of Waterloo Capital. Terms of the investment were not disclosed.

The partnership pairs one of the Southeast's longest-tenured advisory practices with a national RIA platform built to give advisors institutional-grade investment management, tax integration, private markets access and family office infrastructure. The Bay Rivers Group team will continue to serve clients from its Williamsburg office under the Bay Rivers Group name, with advisory services offered through Waterloo Capital, L.P. Charles P. Lucy, CFP®, Bruce A. Lemley, CFP®, and Alan L. Broderick, CFP®, will continue to lead the practice, joined by Will P. Gibson, CFA, CFP®.

Bay Rivers Group Wealth Partners was built around a simple premise: that competent, objective advice is the most durable thing an advisor can offer a family. For nearly three decades, the firm's advisors have served individuals, business owners, families and successive generations across the Historic Triangle and the greater Hampton Roads region, guiding clients through the accumulation, preservation and transfer of wealth. That local orientation is unchanged — clients will continue to work with the same advisors, in the same office, under a name they recognize.

What changes is the depth of resources behind those relationships. As investment adviser representatives of Waterloo Capital, the Bay Rivers Group advisors gain access to Waterloo Capital's investment platform, including institutional asset management, alternative and private markets strategies, advanced financial planning resources, integrated tax services through Waterloo Capital Tax Partners, and the operations, compliance, technology and marketing infrastructure that support the firm's advisors nationally. Waterloo Capital, in turn, establishes a Mid-Atlantic presence anchored by a practice with deep community roots and a client-first culture the firm says mirrors its own.

"We spent a long time being deliberate about this decision, because our clients have trusted us with decisions that will outlast all of us. We came in looking at infrastructure, and we came away just as impressed by the culture. The platform is excellent — but it was the people, and the way they think about serving families, that made the decision for us. What we found in Waterloo Capital was a partner that wanted to strengthen what we have built rather than replace it. Our clients will work with the same advisors, in the same office, under the Bay Rivers Group name — now with materially deeper resources behind those relationships."

— Charles P. Lucy, CFP®, Senior Partner, Bay Rivers Group Wealth Partners

For Waterloo Capital, the investment continues a growth strategy that has combined advisor recruitment, strategic partnerships and the development of specialized brands and service lines. The firm has expanded from its Austin headquarters into a multi-affiliate platform that today includes Intelligent Wealth Solutions, Waterloo Capital Tax Partners, Waterloo Capital Family Office Services, serving high-net-worth and ultra-high-net-worth clients across the country.

"Bay Rivers Group is exactly the kind of firm we want to be in business with. Charles, Bruce and Alan have spent their careers earning the trust of families in their community, and Will represents the next generation of that work. By combining their track record and their local knowledge with our infrastructure, we can help more families plan thoughtfully for retirement and bring institutional asset management to individual investors — which has been the objective from the day we started building this platform."

— John Chatmas, Chief Executive Officer, Waterloo Capital

Both firms said cultural alignment, not economics, was the deciding factor. The Bay Rivers Group partners conducted extended diligence on Waterloo Capital's advisor experience — meeting with affiliate leadership, investment and tax personnel, and advisors already on the platform — before reaching agreement, and have said publicly that the firm's culture weighed as heavily in their decision as the capabilities it brought to the table.

The firms describe the arrangement as a partnership rather than an acquisition of the practice. Waterloo Capital's investment is designed to align interests over the long term, and the Bay Rivers Group leadership team will continue to direct the practice, its staffing and its client relationships within the Waterloo Capital platform. Both firms expect the arrangement to support continuity planning for Bay Rivers Group clients — an increasingly common concern across an advisory industry in which a significant share of practitioners are approaching retirement without a defined succession path.

"I came into this profession from an operating background, and I have always evaluated opportunities by asking what actually changes for the client. Here, the answer is that they get more — more investment capability, more planning depth, more certainty that this practice will be here for their children. Nothing they value about working with us goes away. I will say this plainly: we loved the culture at Waterloo Capital as much as we loved the infrastructure. Capabilities can be bought, but the way a firm treats its advisors and its clients cannot, and that is what we were really underwriting."

— Bruce A. Lemley, CFP®, Senior Partner, Bay Rivers Group Wealth Partners

Bay Rivers Group clients will continue to work with the same advisors and the same local team. In connection with the transition, clients will receive documentation reflecting that advisory services are provided through Waterloo Capital, L.P., including Waterloo Capital's Form ADV disclosure brochure and Form CRS, and will be asked to complete new advisory agreements and any account paperwork required by their custodian. Over time, clients will have access to an expanded set of capabilities — among them alternative investment strategies, concentrated stock and capital gains planning, estate and charitable structuring, and coordinated tax preparation and planning — delivered through the Waterloo Capital platform and introduced by their existing Bay Rivers Group advisors.

"Our clients hired us for our judgment and our availability, and neither of those changes. What this partnership gives us is scale: the ability to sit across from a family and bring solutions that, frankly, a practice our size could not have delivered on its own. We evaluated several paths, and this was the only one where the culture fit as well as the capabilities did. That mattered to us every bit as much as the platform — it was the only one that did not ask us to give up who we are."

— Alan L. Broderick, CFP®, Senior Partner, Bay Rivers Group Wealth Partners

Waterloo Capital said it intends to support Bay Rivers Group's organic growth in the Williamsburg, Newport News, Richmond and greater Hampton Roads markets, including the addition of advisors and support staff.

The announcement is the latest in a series of partnerships completed by Waterloo Capital, which has been recognized as one of the nation's fastest-growing registered investment advisers, named to USA TODAY's Top 100 Financial Advisory Firms for 2026, and has earned recurring placement on Citywire RIA's "50 Growers Across America" list.

No changes to the Bay Rivers Group team or its Williamsburg office location are contemplated in connection with the investment or the partnership. Clients with questions about the transition are encouraged to contact their Bay Rivers Group advisor directly.

ABOUT WATERLOO CAPITAL

Waterloo Capital, L.P. is a registered investment adviser headquartered in Austin, Texas, offering institutional asset management, advanced financial planning, private markets access, integrated tax services and family office services to high-net-worth and ultra-high-net-worth individuals, families and institutions. The firm operates a multi-brand platform that includes Intelligent Wealth Solutions, Waterloo Capital Tax Partners, Waterloo Capital family Office Services, and supports independent advisors nationally through its turnkey asset management and IAR platform. . The firm's mission is to bring the highest standards of investment management and financial planning to the individual investor, helping clients plan for and achieve their retirement and legacy goals.

ABOUT BAY RIVERS GROUP WEALTH PARTNERS

Bay Rivers Group Wealth Partners, Powered by Waterloo, is a financial advisory and wealth management practice based in Williamsburg, Virginia, serving individuals, business owners, families and multiple generations throughout the Historic Triangle, greater Hampton Roads and beyond. The practice's mission is to deliver value to clients through competent, objective advice across the creation, growth and transfer of wealth. It is led by Charles P. Lucy, CFP®, Bruce A. Lemley, CFP®, and Alan L. Broderick, CFP®, together with Will P. Gibson, CFA, CFP®. Bay Rivers Group Wealth Partners is a trade name used by investment adviser representatives of Waterloo Capital, L.P.; advisory services are offered through Waterloo Capital, L.P. Learn more at bayriversgroup.com.

IMPORTANT DISCLOSURES

Waterloo Capital, L.P. is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply any level of skill or training. Effective September 15, 2026, Bay Rivers Group Wealth Partners is a trade name ("doing business as" name) used by investment adviser representatives of Waterloo Capital, L.P.; advisory services are offered through Waterloo Capital, L.P. and not through a separate registered entity. Information about Waterloo Capital, L.P. and its investment adviser representatives is available at adviserinfo.sec.gov and through FINRA BrokerCheck. [CONFIRM — conform to the final structure and to the timing of any Form ADV-W filing by the predecessor entity.]

Transition of client relationships: the arrangement described in this release involves the transition of advisory relationships to Waterloo Capital, L.P. Affected clients will receive advance notice, Waterloo Capital's Form ADV Part 2A brochure, Part 2B brochure supplements and Form CRS, and will be asked to enter into new advisory agreements. No client's advisory contract is assigned without that client's consent as required under Section 205(a)(2) of the Investment Advisers Act of 1940. Clients should review the fee schedule, services and conflicts of interest described in those documents, which may differ from their prior arrangement. [CONFIRM — counsel to approve consent mechanics and notice period.]

This release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any security, nor a recommendation of any investment strategy, product or service. Nothing herein should be construed as investment, legal, accounting or tax advice. Investing involves risk, including the possible loss of principal. Alternative and private markets investments involve additional risks, including illiquidity and limited transparency, and are available only to qualified investors.

Third-party recognitions: Rankings and recognitions, including USA TODAY's Top 100 Financial Advisory Firms and Citywire RIA's "50 Growers Across America," are not indicative of any adviser's future performance and should not be construed as a guarantee that a client will experience a certain level of results. Recognitions are based on criteria established by the issuing publication and may involve data provided by the adviser. Neither Waterloo Capital nor Bay Rivers Group paid a fee to participate in or be considered for these recognitions, except where separately disclosed. A full description of the rating criteria, the number of firms considered and any compensation paid in connection with the rating is available upon request. [CONFIRM — compliance to verify participation/compensation facts for each listing before distribution.]

Statements attributed to Charles P. Lucy, Bruce A. Lemley and Alan L. Broderick are the views of those individuals as of the date of this release and are not statements of any current or prospective client of Waterloo Capital. Effective September 15, 2026, each is an investment adviser representative and supervised person of Waterloo Capital, L.P., and each is compensated by Waterloo Capital in that capacity and has a financial interest in the arrangement described in this release. Their affiliation with Waterloo Capital is disclosed here and is readily apparent from the context of this release. Statements attributed to John Chatmas and Josh Teeters are the views of Waterloo Capital personnel. Individuals' views may not be representative of the experience of any client and are no guarantee of future results.

Certain statements in this release are forward-looking and reflect current expectations regarding the partnership, anticipated capabilities and future growth. Actual results may differ materially. Neither firm undertakes any obligation to update forward-looking statements. Clients will receive notice of any material change to their advisory relationship as required.

MEDIA CONTACT

Taylor Chatmas | Marketing Manager, Waterloo Capital
(512) 717-4495 | [email protected]
Waterloo Capital, L.P. | 2801 Via Fortuna, Suite 250, Austin, TX 78746

SOURCE Waterloo Capital