About Us

Douglas Waddington, CFA, CPA – Managing Partner

Doug has 25 years of experience in Mergers & Acquisitions and Corporate Finance.

Doug founded ADBA Associates in 2019. ADBA is an advisor for M&A in the Insurance Distribution space and a consultant on corporate finance and accounting matters.

Since 2019, Doug has advised on 30+ insurance agency sales totaling $400m+ in transaction value. From 2015-2019 Doug held an executive role for Avella Specialty Pharmacy and successfully oversaw their sale to UnitedHealth Group in August 2018 for $320mm. From 2013-2015, he served as Regional CFO for USI, a national insurance brokerage with revenues of $1.0B. During that time, he integrated five new agencies into the existing four agency region, expanding the footprint into six states and revenues exceeding $100mm. From 2011-2013, Doug managed M&A for Lincoln Financial Group, the 5th largest insurance carrier in the US. From 2008-2011, he managed corporate finance for Take Care Health Systems, a $200mm start-up that was acquired by Walgreens. From 2001-2008, Doug held roles of increasing responsibility in accounting, M&A, and financial analysis for National Financial Partners (NFP) and UGI/AmeriGas.

Doug is a Chartered Financial Analyst and a Certified Public Accountant. Doug has a Certificate in Management from Cornell University and a Bachelor of Science in Business Administration from the University of Delaware where he was a Finance and Marketing double major.

Doug is a native of the Philadelphia area now residing in Scottsdale, Arizona with his wife, two sons, and a golden retriever. On the weekends he enjoys a game of golf carrying a respectable 3 handicap and taxiing his sons to a variety of youth sports.

 

Julie Stolnis, CPA – Managing Director

Julie has 20+ years of experience in accounting, financial analysis, data analytics and business consulting.

Julie is responsible for financial modeling and due diligence work for ADBA’s insurance M&A advisory practice, as well as managing a variety of projects for ADBA’s corporate finance consulting clients.

In 2020, Julie founded a boutique accounting firm that provides outsourced accounting, financial reporting & analysis, and consulting CFO advisory services to small businesses, predominantly in the professional services and healthcare industries. Prior to operating her own firm, Julie worked in healthcare consulting from 2011 to 2022.  From 2006 to 2010, Julie provided Litigation Support and Forensic Accounting services, contributing to nationally recognized securities cases.  From 2004 to 2006, Julie worked at Deloitte, where her primary client was a global media and telecommunications client.

Julie is a Certified Public Accountant and the Treasurer of the National Association of Women Business Owners’ Philadelphia Chapter. Julie has a Bachelor of Science in Accountancy from Villanova University, graduating Magna Cum Laude.  Julie resides in Chester County, Pennsylvania with her husband, son, and daughter.  Julie enjoys watching her children participate in sports, playing tennis, and adventurous hikes with her German Shorthaired Pointer.