In a large pot, heat the olive oil over medium heat. Add the chopped bacon and cook until crispy, about 5-7 minutes. Remove the bacon with a slotted spoon and set aside, leaving the drippings in the pot.
Add the diced onion, garlic, carrot, and celery to the pot. Sauté for about 5 minutes, or until the vegetables are softened.
Pour in the chicken broth and add the white beans, thyme, smoked paprika, salt, and pepper. Bring the mixture to a boil, then reduce the heat and let it simmer for 15 minutes.
Using an immersion blender, puree the soup until smooth. If you prefer a chunkier texture, blend only half of the soup.
Stir in the heavy cream and let the soup simmer for an additional 5 minutes. Adjust seasoning if necessary.
Serve hot, garnished with the reserved bacon and fresh parsley.