Waverly Advisors adds Smithfield Trust Company
The deal adds a fiduciary trust and estate administration firm with approximately $3 billion in client assets to the Wealth Partners Capital Group- and HGGC-backed Waverly platform.
Takeaways
- Smithfield Trust is a trust company offering fiduciary wealth management, trust, and estate administration services.
- Waverly Advisors is acquiring Smithfield Trust with backing from Wealth Partners Capital Group and HGGC.
- The target serves high-net-worth individuals, families, corporate retirement plans, institutional clients across Pittsburgh, PA.
Waverly Advisors, the wealth management platform backed by Wealth Partners Capital Group and HGGC's Aspire Holdings, has acquired Smithfield Trust Company, a Pittsburgh-based fiduciary trust company managing approximately $3 billion in assets.
Smithfield provides fully integrated fiduciary wealth management services including trust and estate administration, customized investment management, and tax planning to high-net-worth individuals, families, corporate retirement plans, and institutional clients.
The firm's 21 professionals, led by President Elizabeth Poggi and Chairman Timothy Rice, join Waverly as co-regional directors, adding trust capabilities to a fee-only RIA that manages roughly $35.5 billion.
“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.
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