Hightower Facilitates Sub-Acquisition of Two Pacific Northwest Advisory Firms
Wealth manager Hightower announced it facilitated a sub-acquisition on behalf of Highland Private Wealth Management, its advisory business based in Bellevue, WA, with Trellis Advisors, LLC, a registered investment advisory firm based in Ellensburg, WA.
Financial terms of the deal were not disclosed, but a Hightower spokesperson told Connect Money it was a mix of cash and equity.
Trellis, with over $470 million in assets under management, brings Highland’s total assets to $1.9 billion.
“We have known Highland for years, and we have similar core values of integrity and objectivity,” said Ray Gilmour, founder of Trellis. “We both take a holistic approach to comprehensive wealth planning for our clients and offer parallel services to build and nurture a client service offering that can adapt to evolving needs.”
Earlier this month, Hightower facilitated a merger between Fairport Wealth, a Cleveland, OH-based Hightower advisory business, and Wealth CMT, a registered investment advisory firm with $300 million in assets under management.
The latest deal brings Hightower’s assets under management to approximately $131 billion and is the 11th deal announced this year.
