On June 17, 2026, Waverly Advisors announced its acquisition of Smithfield Trust Company.
Waverly Advisors (“Waverly”) announced, on June 17, 2026, that it, together with its parent company, acquired Smithfield Trust Company (“Smithfield”). Under the terms of the transaction, which closed on June 12, 2026, Smithfield’s President and Chief Executive Officer, Elizabeth Poggi, and its Chairman and Chief Investment Officer, Timothy Rice, will join Waverly as Co-Regional Directors. Poggi and Rice will continue to lead 21 professionals who are also joining Waverly. Further terms of the transaction were not disclosed.
Waverly, based in Birmingham, Alabama, is a registered investment advisor offering investment management, tax, estate, and financial planning services. As of May 29, 2026, Waverly had approximately $35.5 billion in assets under management.
Smithfield, based in Pittsburgh, Pennsylvania, is a Pennsylvania-chartered trust company offering fiduciary wealth management services including trust and estate administration, investment management, tax and charitable planning, and estate planning services. Smithfield has approximately $3 billion in assets under management. Turkey Hill Management served as Smithfield’s advisor on the transaction.
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