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Financial Advisory  + Direct Investment  + M&As  + RIAs & Financial Advisors  |  November 7, 2023
Hightower Invests in $2.5B Florida RIA
Joe Palmisano
By: Joe Palmisano

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.

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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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