Waverly Advisors Acquires $3.1B RIA

Waverly Advisors, LLC has acquired TruWealth Advisors, a $3.1 billion wealth management firm based in the greater New Orleans area with offices in Mandeville and Metairie, Louisiana. This acquisition establishes Waverly’s presence in Louisiana and supports the firm’s continued growth strategy as it expands into new markets across the South.

Founded in 2020 by Chuck Simmons, TruWealth provides financial advice and personalized portfolio management for its clients. Simmons leads the firm alongside Jim Parrie, general manager and chief operating officer. Today, the firm is supported by a team of 31 professionals.

Simmons will join Waverly as partner and wealth advisor and will continue leading the Louisiana offices, and Parrie will join Waverly as partner and regional director; they will be joined at Waverly by their entire team.

“Chuck and his team have built a respected firm grounded by transparent communication, disciplined portfolio construction and a genuine commitment to prioritizing clients’ needs above all else,” said Justin Russell, president and CEO of Waverly. “Their investment outlook and client service approach aligns closely with Waverly’s, and we are pleased to welcome TruWealth to the Waverly team.”

“TruWealth’s core business model was built on the belief that financial advice should always be centered on clients’ best interests,” said Simmons. “Joining Waverly allows us to keep that commitment while providing clients with enhanced resources, broader planning capabilities and access to an expanded team dedicated to their long-term financial success.”

“Joining Waverly has positively positioned our team for the next stage of growth,” said Parrie. “Waverly’s robust platform and collaborative culture will allow us to scale thoughtfully while continuing to deliver the high level of service our clients have come to expect.”

The acquisition of TruWealth marks Waverly’s 32nd 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 April 24, 2026, and increases Waverly’s assets under management to approximately $34.2 billion.

Mercer Names Chief Dev Officer

Mercer Global Advisors, Inc. has appointed Jimmy Zhao as chief corporate development officer. Zhao joins Mercer Advisors to lead corporate development efforts and strategic partnerships as the firm expands its national platform.

“Jimmy brings a distinct combination of wealth management industry expertise, strategic insight, transaction expertise, and operational discipline that aligns directly with our next phase of growth,” said Chief Executive Officer Dave Welling. “Mercer Advisors has built a highly differentiated platform that delivers a unified standard of financial care for clients while creating meaningful opportunities for advisors and partner firms. Jimmy’s experience advising and working with RIAs, asset managers and private equity sponsors on large-scale transactions and growth transformations will be instrumental as we continue to scale our impact and expand our partnership model.”

Zhao will serve as a member of the executive leadership team, reporting to Welling. He will partner closely with the board of directors and Mercer Advisors’ capital partners to advance the firm’s long-term growth strategy. The M&A Partner Development team, led by Executive Managing Partners Martine Lellis and Ted Motheral, will report into Zhao. He will also lead the expansion of Mercer Advisors’ Corporate Development function to evaluate adjacent markets, new partnerships, and new opportunities.

Zhao brings more than a decade of experience advising financial services firms on strategy, M&A and large-scale transformation. Most recently, he was a partner at McKinsey & Company, where he led the firm’s North American wealth management and retirement practices and advised on some of the industry’s largest M&A deals and private capital investments. He advised large RIAs, asset managers and financial sponsors on more than 50 transactions and strategic growth initiatives, including acquisitions totaling over $100 billion in enterprise value.

“Mercer Advisors is distinguished by its ability to bring together high-quality firms and teams and distinctive capabilities under an integrated model,” said Zhao. “The firm’s commitment to a fiduciary-first approach, combined with its technology and collaborative culture, creates a strong foundation for continued success. I’m excited to help build new partnerships and further strengthen Mercer Advisors’ ability to deliver value for clients, employees and shareholders.”

Zhao’s appointment is part of Mercer Advisors’ ongoing investment in its executive team. Most recently the firm announced Melissa Nims as chief solutions officer and Jeremiah Barlow as chief commercial officer.

Western & Southern Buy Till Financial

Western & Southern Financial Group has acquired Till Financial, a family banking platform.

“Families today need more than products – they need practical, modern solutions that help build financial confidence in an increasingly digital world,” said John F. Barrett, chairman, president and chief executive officer of Western & Southern Financial Group. “By pairing our strength and stability with Till’s innovative platform, we are deepening our commitment to serve families along life’s journey and helping the next generation build financial foundations for life.”

Till Financial’s platform delivers a family-centered experience through the Till app and debit card, featuring parental controls, automated allowances, shared savings goals, and security and fraud protection.

“We’ve spent years building Till into a platform families and partners truly rely on, and choosing the right partner for our next chapter was one of the most important decisions we could make,” said Taylor Burton, founder and chief executive officer of Till Financial. “What drew us to Western & Southern is that they think in generations, which is exactly how families think about raising kids. Together, we have a rare opportunity to help raise a generation that is better prepared for their financial futures.”

Willkie Farr & Gallagher LLP provided legal counsel to Western & Southern. Till Financial was represented by Citizens Financial Group, Inc. and legal counsel was provided by Goodwin Procter LLP. Terms of the deal were not disclosed.

EVPs Join Janney

Janney Montgomery Scott LLC has announced that Adam Runk and Greg Marco have joined the firm as executive vice presidents of Investments. They will be based in Lancaster, Pennsylvania.

Previously affiliated with FNB Trust, Runkand and Marco join Janney with client relationships representing more than $760 million in assets. They are joined by Account Executive Gizem Folk and Private Client Associate David Whiting.

“We were drawn to Janney’s boutique, advisor-first culture and collaborative mindset,” said Runk and Marco. “The firm gives advisors the flexibility to run their practice their way, along with the platform, resources, and support needed to continue serving clients thoughtfully and delivering the long-term guidance they deserve.”

Runk is a financial professional experienced in portfolio management, investment strategy, and fiduciary oversight, including work with institutional and trust clients. He has contributed to equity, fixed income, and mutual fund analysis through investment committee work. He also holds the Chartered Financial Analyst designation. 

Marco has experience across wealth management and financial services, including 20 years of experience providing banking, trust, and investment advisory services. He holds a bachelor’s degree in political science from The Pennsylvania State University and a master’s degree in management and finance from Eastern University.

InspereX Partners With AuguStar Retirement on Annuity Distribution

InspereX, the tech-driven distributor of fixed income, structured products, exchange-traded funds (ETFs), and alternative investments, is expanding into the annuity marketplace through a new partnership with AuguStarRetirement, a Constellation company. InspereX will distribute AuguStar’s annuity solutions to PNC financial advisors and other select wealth management platforms.

“We’re thrilled to partner with AuguStar to bring new solutions to financial advisors who are helping their clients achieve successful, long-term retirements,” said Scott Mitchell, chief executive officer of InspereX. “AuguStar brings a strong reputation of product innovation, financial strength, and a keen focus on advisors and their businesses. This partnership reflects our shared commitment to delivering differentiated solutions, particularly at key national accounts, such as PNC.”

InspereX will serve as a distribution partner for AuguStar products, leveraging its national platform, home office relationships, and wholesaling capabilities to support advisor education, strategy implementation, and ongoing client service.

“We’re very excited to partner with InspereX as we continue to expand our distribution footprint,” said Cliff Jack, AuguStar retirement chief executive officer. “InspereX’s deep network and distribution capabilities within the bank and wealth management channels, coupled with their strong presence on major platforms, makes them an ideal partner as we bring our solutions to a broader advisor audience.”

AdvisorCRM Releases AI Assistant Tool

Advisor CRM has launched Beacon, an AI assistant integrated directly into the CRM platform.

Beacon is compatible with AI platforms like ChatGPT, Perplexity, Gemini, and Claude, and embeds AI into an advisor’s existing workflow and security infrastructure.

“Advisors often spend too much time toggling between systems, pulling client data, updating notes, and drafting communications, which slows them down and increases risks of sensitive information being mishandled,” said Ryan Borer, managing partner at Advisor CRM. “Beacon brings that work into a secure, centralized environment, turning real advisor data into finished output and freeing up time to focus on what matters most: their clients.”

“Beacon is a game-changer for advisors, offering a seamless blend of intelligence, security, and productivity,” said Abbie Sheridan, CEO of Advisor CRM. “It empowers advisors to transform their data into actionable insights without compromising on privacy or efficiency.”

Cliffwater Welcomes Head of Retirement Solutions

Cliffwater has appointed Sean Murray to its distribution team as head of Retirement Solutions, where he will lead the expansion of the firm’s retirement channel capabilities.

Murray brings over 30 years of experience in the retirement industry. Most recently, he served as head of Strategic Partnerships Workplace Solutions at Goldman Sachs, where he focused on retirement and workplace offerings and helped drive the inclusion of private markets in defined contribution plans. Prior to that, he held senior leadership positions at PIMCO, BlackRock, and Envestnet.

“I’m excited to continue increasing the role of private markets in retirement plans alongside an innovator in the space like Cliffwater and believe the firm is uniquely positioned to be at the forefront of this evolution,” said Murray.

Cliffwater CEO Stephen Nesbitt said, “Sean’s experience across the retirement landscape make him a key asset. His expertise aligns closely with our strategic priorities.”

RFG Advisory Adds Seasoned Executives to Board of Directors

RFG Advisory has named Mark Gilbert, co-founder and CEO of Zocks Communications, and Jim Patrick, a financial services executive, to its board of directors.

The firm also announced a strategic investment in Zocks, an AI-driven workflow automation and business intelligence platform for financial advisors. RFG participated in Zocks’ Series B round, co-led by Lightspeed Venture Partners and QED Investors, alongside other new and existing investors.

“RFG is not interested in building a collection of tools. We are laser-focused on building the operating system for the modern independent Advisor,” said Shannon Spotswood, CEO of RFG Advisory. “The future of this industry belongs to firms that can unify data, intelligence and execution into a single intuitive experience that elevates how Advisors operate. We’re building something that’s designed to help Advisors move faster, serve clients more effectively and be well positioned for generations to come.”

As co-founder and CEO of Zocks, Gilbert has experience building high-growth enterprise software platforms and designing products across communications, CRM and developer ecosystems. His perspective is said to guide RFG’s innovation as it embeds AI more deeply into the advisor experience.

Patrick, a former Envestnet executive, has experience in investment management and financial services. In joining RFG’s board of directors, he will support the expansion of RFG’s Bluemonte platform and the firm’s “ability to deliver institutional-quality investment solutions within a more connected platform.”

Raymond James Advisor Joins Osaic

Osaic, Inc. announced that Geraldine Spinella has joined the firm from Raymond James, bringing approximately $107 million in client assets.

Based in Garden City, New York, Spinella has affiliated with Osaic through its office of supervisory jurisdiction (OSJ), New York Financial Partners, Inc.

“I’m excited to work with a team known for its supportive approach and ease of doing business,” said Spinella. “Their leadership and extensive experience will be instrumental as I embrace the next chapter of my career and continue delivering thoughtful guidance to my clients.”

“We’re thrilled to welcome Geraldine to New York Financial Partners,” said Howard Asch, managing partner at New York Financial Partners. “Her client-first philosophy, deep community ties and disciplined approach to financial planning make her a strong addition to our team, and we look forward to supporting her continued growth.”