Waverly Advisors’ Affiliate Acquires Smithfield Trust Company

Strategic partnership marks a significant milestone for trust services offered

BIRMINGHAM, Ala.--(BUSINESS WIRE)--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.

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.

About Waverly

Waverly Advisors, LLC (“Waverly”) is a fee-only federally registered investment adviser that serves the investment management and wealth planning needs of a diverse group of clients, including high-net-worth individuals and families, corporate retirement plans, trusts, endowments, and institutions. Waverly manages approximately $35.5 billion in assets (as of 5.29.2026), which excludes the assets managed by Smithfield, and offers collaborative investment, tax, estate, and financial planning services. Founded in 1999 in Birmingham, Alabama, the company has 51 offices across the U.S. and a team of over 460 professionals who hold many of the industry’s most prestigious credentials. For more information, please visit www.waverly-advisors.com.

About Smithfield Trust Company, LLC

Founded in 1996 and headquartered in Pittsburgh, Pennsylvania, Smithfield is a Pennsylvania-chartered trust company providing comprehensive fiduciary wealth management services. Smithfield ranks among the region's largest money management firms and is widely recognized for its fiduciary expertise and commitment to fostering long-standing, multi-generational client relationships, managing approximately $3 billion in assets. Smithfield is supported by a dedicated team of 21 professionals committed to the highest standards of client service and counsel. For more information, please visit www.smithfieldtrustco.com.

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company, which invests in and partners with select leading wealth management firms. WPCG supports its partners’ growth by providing capital, organic growth opportunities and strategic M&A expertise, identifying and evaluating wealth advisory practices for its partners to acquire and integrate. For more information, please visit www.wealthpcg.com.

About HGGC

HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long-term value together. HGGC invests in technology, business services, financial services and consumer enterprises. The firm is based in Palo Alto, CA and manages over $10 billion in assets under management (as of 12.31.2025). Since its inception in 2007, HGGC has completed more than 600 platform investments, add-on acquisitions, recapitalizations, and liquidity events with an aggregate transaction value of over $71 billion. HGGC makes investments in RIAs via its Aspire Holdings platform, which is targeting $300 million of total investment in the space. For more information, including a complete list of current and former investments, please visit www.hggc.com.

Disclosure: Waverly is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Waverly, including investment strategies, fees, and objectives can be found in Waverly’s ADV Part 2A Brochure, which remains available upon request or by visiting Waverly’s website at https://waverly-advisors.com/adv-part-2a-brochure. Smithfield is not an SEC registered investment adviser, but a Pennsylvania-chartered trust company.