Key Takeaways
- • Waverly Advisors acquired TruWealth Advisors, a $3.1 billion wealth management firm based in the greater New Orleans area, establishing Waverly's first presence in Louisiana as of April 24, 2026.
- • TruWealth, founded in 2020 by Chuck Simmons and led operationally by Jim Parrie (COO and general manager), operates 31 professionals across offices in Mandeville and Metairie, Louisiana, with a focus on personalized portfolio management for high-net-worth clients.
- • Waverly Advisors manages approximately $34.2 billion in assets (as of April 24, 2026) and provides comprehensive wealth management services including investment management, financial planning, tax planning, estate planning, and cash management solutions for high-net-worth individuals, families, corporate retirement plans, and institutional clients.
- • The acquisition supports Waverly's strategic expansion across Southern markets and reinforces the firm's growth trajectory following its earlier acquisition of Pure Portfolios in the Pacific Northwest.
Summary
Waverly Advisors, a federally registered investment adviser headquartered in Birmingham, Alabama, has completed its acquisition of TruWealth Advisors, a $3.1 billion wealth management firm serving the greater New Orleans region. The transaction closed on April 24, 2026, marking Waverly's inaugural entry into the Louisiana market and representing a continuation of the firm's regional expansion strategy across the South.
TruWealth was founded in 2020 by Chuck Simmons and has rapidly established itself as a trusted advisory firm in its market. The company operates with a 31-person team led by Simmons and Jim Parrie, who serves as general manager and chief operating officer. The firm maintains dual office locations in Mandeville and Metairie, Louisiana, and is known for delivering personalized portfolio management and transparent financial advice to individuals, families, and institutional clients.
Waverly Advisors brings substantial scale to this transaction, managing approximately $34.2 billion in assets as of the acquisition date. The acquiring firm offers an integrated suite of services encompassing investment management, financial planning, tax planning, estate planning, and institutional consulting services including cash management solutions. By integrating TruWealth's client base and operations, Waverly strengthens its service capacity and deepens its footprint in high-growth markets outside its traditional operating regions.
The acquisition aligns with Waverly's demonstrated M&A strategy, which includes its earlier acquisition of Pure Portfolios in the Pacific Northwest. This transaction signals continued momentum in the wealth management sector, where larger, multi-service platforms are consolidating regional advisory practices to expand geographic reach and enhance service offerings for affluent and institutional clientele.
TruWealth was founded in 2020 by Chuck Simmons and has rapidly established itself as a trusted advisory firm in its market. The company operates with a 31-person team led by Simmons and Jim Parrie, who serves as general manager and chief operating officer. The firm maintains dual office locations in Mandeville and Metairie, Louisiana, and is known for delivering personalized portfolio management and transparent financial advice to individuals, families, and institutional clients.
Waverly Advisors brings substantial scale to this transaction, managing approximately $34.2 billion in assets as of the acquisition date. The acquiring firm offers an integrated suite of services encompassing investment management, financial planning, tax planning, estate planning, and institutional consulting services including cash management solutions. By integrating TruWealth's client base and operations, Waverly strengthens its service capacity and deepens its footprint in high-growth markets outside its traditional operating regions.
The acquisition aligns with Waverly's demonstrated M&A strategy, which includes its earlier acquisition of Pure Portfolios in the Pacific Northwest. This transaction signals continued momentum in the wealth management sector, where larger, multi-service platforms are consolidating regional advisory practices to expand geographic reach and enhance service offerings for affluent and institutional clientele.
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