
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.
