Waverly Advisors Acquires TruWealth Advisors for $3.1B

Waverly Advisors, LLC has acquired TruWealth Advisors, a wealth management firm overseeing $3.1 billion in assets. This acquisition marks Waverly's entrance into the Louisiana market and supports its Southern expansion strategy. The transaction adds to Waverly’s growing portfolio, bringing its total assets under management to around $34.2 billion.

TruWealth Advisors, founded in 2020 by Chuck Simmons, operates in Mandeville and Metairie, Louisiana. The firm, known for its client-centric financial advisory and portfolio management services, employs 31 professionals. Post-acquisition, Simmons will join Waverly as a partner and wealth advisor while maintaining leadership of the Louisiana offices. Jim Parrie, TruWealth's general manager and chief operating officer, will also transition to Waverly as a partner and regional director.

The acquisition aligns with Waverly's strategy of integrating firms that share a similar investment philosophy and client service ethos. Justin Russell, president and CEO of Waverly, commended TruWealth’s commitment to client-focused financial advice and disciplined portfolio construction. This cultural and strategic alignment is expected to bolster Waverly’s service offerings, enhancing resources for existing and new clients.

The transaction is part of Waverly's aggressive growth strategy backed by Wealth Partners Capital Group and HGGC’s Aspire Holdings platform. Since taking equity investment from these partners in December 2021, this acquisition marks Waverly’s 32nd transaction. The firm's expansion in the South underscores a broader trend of consolidation in the wealth management sector, as firms seek to leverage scale for competitive advantage against larger incumbents.

Looking ahead, the integration of TruWealth into Waverly is set to proceed following the closing of the deal on April 24, 2026. The move is expected to enhance service delivery through Waverly’s robust platform, offering TruWealth’s clients expanded planning capabilities and access to a wider professional network. The deal further establishes Waverly’s footprint and sets the stage for future growth in the region.