Hightower Makes Third $1B+ Acquisition in Under Two Weeks

Wealth management firm Hightower has made its third strategic investment in a firm with at least $1 billion in assets in just under two weeks, with the acquisition of Meyer Capital Group, a 60-year-old family run business with $1.6 billion in assets based in Marlton, NJ and offices in Naples, FL.

As with the previous investments, Hightower did not disclose any financial terms of the deal. Hightower is expected to gain 17 employees, including 10 advisors, through the investment.

Thomas C. Meyer, CEO of Meyer Capital Group, has been the primary owner of the company, who took over in 1982; the firm was founded by his grandfather.

“I have personally known Tom and Meyer Capital Group for almost 20 years, and they have a long history of helping clients to achieve their financial goals, which makes them a perfect fit for our community. They’ve already aligned with our mission on spreading well-th,” said Hightower Chairman and CEO Bob Oros.

Hightower announced the purchase of $1 billion Massachusetts-based Boston Hill Advisors on June 6, followed six days later with the acquisition of Houston-based Presidio Wealth Partners.

As of the end of Mach, Chicago-based Hightower’s assets under administration were approximately $148.2 billion, and assets under management were $119.9 billion.

Gladstone Associates served as Meyer Capital Group’s financial advisor.