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Financial Advisory  + Direct Investment  + M&As  + RIAs & Financial Advisors  | 
Hightower Invests in $2.5B Florida RIA

Hightower Invests in $2.5B Florida RIA

Hightower has made a strategic investment in Resource Consulting Group, a fee-only registered investment advisor based in Orlando, FL with approximately $2.5 billion in assets under management.

While specific terms of the transaction were not disclosed, a spokesperson on behalf of Hightower told Connect Money that the transaction involved a mix of cash and equity.

Resource Consulting Group offers academic-based investment management, financial planning and retirement planning services to high-net-worth and ultra-high-net worth households, as well as select institutional clients.

“Their (Resource Consulting Group) decision to join Hightower underscores our mutual respect for cultivating talent and reaffirms our shared people-centric approach to wealth management,” said Hightower Chairman and CEO Bob Oros.

Hightower has announced 11 acquisitions this year, including GMS Surgent, a PA-based, full-service CPA firm. As of June 30, the firm’s assets under management were approximately $131 billion.

Resource Consulting Group was advised by Cambridge International Partners.

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Hightower Advisors

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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