Fairport Wealth, a Hightower-backed financial advisory firm based in Cleveland, OH, announced the promotion of Matt Logar to CEO.

Fairport announced the executive with more than two decades’ experience in wealth management will take the role after a succession plan that has been in place for two years. Having served as president since 2022, Logar will succeed Ken Coleman, who has retired after more than 24 years as CEO.

“We’re thrilled to have been able to support Fairport in their succession plan,” said Hightower CEO and Chairman Bob Oros. “When we seek out firms to join our community, strong leadership and founders or executives committed to continuing to operate the firm after they become part of Hightower, is critical.”

Fairport became part of Chicago-based Hightower in 2017 through Hightower’s acquisition of WealthTrust.

Logar joined Fairport in 2021 as director of client strategy. Before joining Fairport, Logar directed the financial planning and advice teams as a senior vice president within Key Bank’s wealth management division.

Since becoming a Hightower advisory business in 2017, Fairport has completed four acquisitions and grown from one to five offices in Cleveland, OH; Buffalo, NY; Chicago, IL; Harrisburg, PA and Princeton, NJ. The firm employs more than 50 people and oversees over $3.6 billion in assets for nearly 2,000 households.

As of December 31, 2022, Hightower’s assets under administration were approximately $144.3 billion, and assets under management were $113.7 billion.