Hightower Takes Stake in $1.1B Wisconsin Wealth Manager 

Hightower has made a strategic investment in Financial Planning and Information Services, Inc. (FPIS), a De Pere, WI-based registered investment advisor with over $1.1 billion in assets under management. 

Financial terms of the deal were not disclosed. 

FPIS was founded in 1985 by Lon Mishler and is now led “second generation leaders,” including president and CEO Ryan Wempe and VPs Dan Budinger and Rachel Brown. As part of this transaction, FPIS promoted Brock Becker and Carl Ekstrom to partner. The 16-person team will retain its brand and investment philosophy. 

“FPIS built its practice on a core principle that is still its backbone nearly 40 years later,” said Hightower Chairman and CEO Bob Oros. “Their leaders’ decision to join Hightower highlights our shared dedication to community and the importance of developing long-term, generational wealth relationships.” 

FPIS is the fifth firm Hightower has made a strategic investment in this year. Last week, the Chicago-based wealth manager announced it will purchase an 80% stake in NEPC, LLC, an investment consultant and outsourced chief investment officer (OCIO) with about $1.7 trillion in assets under advisement.  

Last month, Hightower announced an investment in Charles D. Hyman & Company, a Ponte Vedra Beach, FL-based registered investment advisor with $2.3 billion in assets under management.  

In January, the firm announced the acquisition of Capital Management Group (CMG) of New York, a wealth management and financial planning firm with $3.3 billion in assets and offices in New York City and Pearl River.  

Hightower provides investment, financial, and retirement planning services to individuals, foundations, and family offices, as well as 401(k) consulting and cash management services to corporations. As of June 30, 2024, the firm’s assets under management were approximately $156 billion. 

FPIS was advised by Advisor Growth Strategies.