Waverly Advisors’ Affiliate Acquires Smithfield Trust Company

Waverly Advisors, LLC’s parent company (together with Waverly Advisors, LLC “Waverly”), has acquired the equity of Smithfield Trust Company, LLC (“Smithfield”). Waverly Advisors, LLC is a federally registered investment adviser (“RIA”) specializing in investment management, financial planning and wealth management services for high-net-worth individuals, families, corporate retirement plans and institutional clients. Smithfield, based in Pittsburgh, PA, manages approximately $3 billion in assets and ranks among the region’s largest money management firms. Smithfield is recognized for its fiduciary expertise, personalized client service, and cultivation of long-standing, multi-generational relationships. Waverly’s acquisition of Smithfield represents a significant milestone for Waverly, as it expands the firm’s trust service line.

Read More on Fintech : Global Fintech Interview with Rob Young, Managing Director – UK at InDebted

Founded in 1996, Smithfield is a Pennsylvania-chartered trust company, offering fully integrated fiduciary wealth management services – including trust and estate administration, customized investment management, tax and charitable planning, and estate planning to clients globally. Smithfield’s process is designed to deliver coordinated, tax-efficient strategies across all aspects of a client’s financial life. Led by Elizabeth Poggi, President and Chief Executive Officer, and Timothy Rice, Chairman and Chief Investment Officer, the firm continues to build on its strong leadership and client-focused approach. Poggi and Rice will join Waverly as Co-Regional Directors and will continue to lead the 21-professionals joining Waverly.

“Acquiring respected trust companies has been a long-standing goal of Waverly’s,” said Justin Russell, President and CEO of Waverly. “Smithfield’s unified approach to trust, tax and investment management directly supports Waverly’s mission of building a cohesive and world-class service offering to better serve our clients. Smithfield’s unwavering commitment to client-first principles aligns seamlessly with Waverly’s philosophy.”

“Trust, integrity and personalized service have always defined Smithfield’s client philosophy,” said Poggi. “This acquisition unites the strengths of a premier trust company and a leading RIA, significantly expanding the depth of resources and planning capabilities offered to clients, without compromising the high-touch service they have come to expect.”

“Our investment approach is grounded in customization, discipline and a deep understanding of each client’s complete financial portfolio,” said Rice. “Waverly’s broader investment platform, combined with its highly experienced investment committee, strengthens our ability to create thoughtful, tax-efficient strategies and deliver positive, long-term outcomes for our clients.”

Smithfield marks Waverly’s 34^th transaction since accepting an equity investment in December 2021 from Wealth Partners Capital Group (“WPCG”) and HGGC’s Aspire Holdings platform. The transaction closed on June 12, 2026.

“Waverly continues to execute on a differentiated growth strategy by connecting with firms that enhance its platform and expand its capabilities,” said Mac Selverian, Partner at WPCG. “The addition of Smithfield represents a meaningful step forward as Waverly continues to build a comprehensive experience for its clients.”

Financial and legal terms of the deal will not be disclosed. Turkey Hill Management, LLC served as advisor to Smithfield Trust Company in the transaction.

Catch more Fintech Insights : The AI Shift in Fraud: Why Banks Need a New Playbook

[To share your insights with us, please write to psen@itechseries.com ]