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Financial Advisory  + Direct Investment  + Wealth Management  |  May 8, 2023
Hightower Makes Strategic Investment in $1B Wealth Manager
Joe Palmisano
By: Joe Palmisano

Hightower Makes Strategic Investment in $1B Wealth Manager

Chicago-based Hightower has made a strategic investment in TEN Capital Wealth Advisors, a $1 billion wealth management firm.

Terms of the transaction were not disclosed.

Headquartered in Spokane, WA and a presence in Seattle, TEN Capital serves business owners, executives and multi-generational families, and has become one of the fastest growing firms in the Pacific Northwest, according to the firm.

“We conducted an extensive search to find the right firm that would support our growth with a strong platform; a firm that also understood how important it was to maintain our special client experience,” said CEO Tim Mitrovich, who founded TEN Capital in 2012.

“We chose Hightower for its similar culture and incredible suite of value-added services, particularly business owners support, who are a large component of our practice,” added TEN Capital president Jacob Timm.

Hightower’s assets under administration were approximately $148.2 billion, and assets under management were $119.9 billion as of the end of March.

TEN Capital was advised by Alston & Bird and consultant Brett Zaniewski.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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