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tru Independence Announces New PE Backing, COO

Gary Bonner, a founding partner and former COO of Avalon Advisors, has joined tru Independence.

Portland, Ore.-based tru Independence, an open architecture service platform for breakaways and independent advisors, has hired Gary Bonner, a founding partner and former COO of Avalon Advisors, a Texas RIA, as its new COO.

The company also said that in November it agreed to an undisclosed capital infusion from Entwood Holdings, the Boston, Mass., private equity firm.

Entwood and tru’s leaders have known each other for decades, and believed bringing their shared values together could be invaluable to helping advisors serve their clients,” Entwood co-founder Jim Dilworth said in a statement.  

According to the company, Bonner helped build Avalon from $450 million to $9 billion in AUM. Bonner led Avalon’s trading, HR, technology, finance and compliance operations.

“I am excited to continue to grow the team and our platform, ensuring our independent advisor clients have access to the best tools they need so they can focus on their clients, without worrying about the back-office operations,” added Craig Stuvland, tru Independence CEO

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