On March 31, 2022, Hightower Advisors, LLC announced that it had made a strategic investment in Altium Wealth Management.
Under the terms of the transaction, Hightower Advisors, LLC (“Hightower”) has acquired a stake in Altium Wealth Management (“Altium”). 39 members of the Altium staff will join Hightower, including 18 advisors. The deal, subject to customary closing conditions, is expected to close in the second quarter of 2022. Financial terms were not disclosed.
Hightower, based in Chicago, is a wealth management firm offering financial and retirement services to both individual and institutional investors. As of December 31, 2021, Hightower had approximately $144 billion in assets under administration and $117.8 billion in assets under management.
Altium, based in Purchase, New York, is a wealth management firm serving high and ultra-high-net-worth clients. Park Sutton Advisors served as Altium’s investment banker on the deal.
To read the press release: please click here.