Waverly Advisors acquires TruWealth Advisors

Waverly Advisors has acquired TruWealth Advisors, a wealth management firm with approximately $3.1 billion in assets under management. This transaction enhances Waverly's footprint in the southern United States, specifically establishing a presence in Louisiana. The acquisition aligns with Waverly's strategy to expand its operations across new markets.

Founded in 2020 by Chuck Simmons, TruWealth Advisors operates in Mandeville and Metairie, Louisiana, offering financial advice and personalized portfolio management. The 31-member team is integrated into Waverly following the acquisition. Simmons and general manager Jim Parrie will join Waverly's leadership, continuing to manage the Louisiana offices as partners.

The integration of TruWealth into Waverly aligns with both firms' commitment to client-focused financial advisory services. Justin Russell, Waverly's CEO, highlighted the shared values, citing TruWealth’s dedication to transparent communication and disciplined investment strategies as a seamless fit with Waverly's operational philosophy. According to Simmons, the merger will enhance TruWealth's capabilities, offering clients greater resources and planning opportunities under the Waverly umbrella.

This acquisition is Waverly's 32nd since it secured equity investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform in December 2021. The addition of TruWealth’s assets increases Waverly's total assets under management to approximately $34.2 billion. This steady growth trajectory underscores Waverly’s aggressive expansion strategy within the wealth management sector.

Looking ahead, the transaction solidifies Waverly's growth in the competitive wealth management landscape, setting the stage for further expansion opportunities. As the acquisition has already closed, Waverly will focus on integrating TruWealth’s operations while exploring additional strategic growth avenues.