On February 13, 2023, Hightower, a wealth management firm, announced it had made a strategic investment in Bickling Financial Services, Inc., a registered investment advisor (RIA) with around $625 million in assets.
Bickling Financial Services offers full-service wealth management and financial planning services to assist clients in achieving their long-term financial and personal objectives. The corporation has strong ties to New England and Northeast communities. The firm has served affluent and high-net-worth client households throughout its history.
As of December 31, 2022, Hightower had approximately $144.3 billion in assets under administration and $113.7 billion under management (AUM), up from $106.1 billion as of September 30, 2022. With the strategic investment in Bickling Financial Services, Hightower focuses on helping young leaders achieve their goals. In addition, the company can scale up its business and make future investments with this strategic move.
Chairman and CEO of Hightower, Bob Oros, said, "Spencer and Andy are young leaders who have ushered in tremendous growth over the past several years." He also said, "We look forward to helping them achieve their ambitious growth goals, both organically and through talent acquisition, scale their operations, and develop the next-generation of leaders through programs like our Hightower Center for Leadership."
(Source: Cision PR Newswire)
About Hightower
Founded in 2008, Hightower is a wealth management firm that offers investment, retirement planning and financial services to foundations, individuals, and family offices. In addition, the company also provides its services to around 401k consulting and cash management services to corporations. Hightower provides its 132 advisory businesses in 34 states and the District of Columbia with various services to catalyze and accelerate organic growth. These services include leadership and team development, talent acquisition, business development consulting, marketing support, technology, compliance, accounting, payroll, investment management resources, and human resources.