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.