US-based wealth management firm Hightower has made a strategic investment in the $1.2bn wealth advisory and investment management business Highland Private Wealth Management (Highland).
Highland offers financial planning, wealth counselling, and investment management services to executives, professionals, business owners, wealth beneficiaries and other high-net-worth households.
Highland CEO and founder John Christianson said: “At Highland, we believe in acting as the central ‘wealth confidant’ to clients, providing them with deep financial knowledge and specialised coaching to help them connect their money to a life of meaning and purpose.
“Our strategic partnership with Hightower – which includes access to institutional-level value-added services, operational scale and support – is a key step in advancing how we serve our clients and grow our business. The partnership enables us to retain our entrepreneurial spirit and autonomy, which has been central to our success.”
With its 131 advisory businesses in 34 states, Hightower operates as a registered investment advisor (RIA).
Hightower chairman and CEO Bob Oros said: “Highland is a high-growth organization with a strong bench of multi-generational leaders and a differentiated approach to client service.”
“There is a real synergy between Highland and Hightower, culturally and philosophically. Highland recognises that the world is changing. They are forward-thinking in the way they’ve evolved their offering to meet their clients’ total life needs – this commitment and approach fits squarely with Hightower’s ‘well-th rebalanced’ ethos.”
Hightower is said to offer investment, financial and retirement planning services to private clients, foundations and family offices, along with 401(k) consulting and cash management services to corporations.
Hightower is said to catalyse and accelerate organic growth by providing services including services, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll, and human resources.
The inorganic growth services of the company include sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions.
Hightower’s assets under administration are said to be approximately $132.6bn and assets under management are nearly $108.4bn.
