On August 27, 2020, Hightower Advisors LLC announced that it had entered into an agreement to acquire an interest in Argent Wealth Management.
Under the terms of the transaction, Hightower Advisors, LLC (“Hightower”) will acquire an interest in Argent Wealth Management (“Argent”). The transaction is subject to regulatory approval and customary closing conditions and is expected to close by the fourth quarter of 2020. Terms of the deal were not disclosed.
Argent, based in Boston, is an advisory practice that specializes in tax-focused financial planning for high net worth families in the Boston area. Argent has approximately $1.7 billion in assets under management.
Hightower, based in Chicago, is a wealth management firm that offers investment, financial and retirement services to individuals, foundations and family offices and 401(k) consulting and cash management services to corporations. As of June 30, 2020, Hightower had approximately $56.7 billion in assets under management.
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