Hightower Invests In $2.5 Billion Florida RIA

James Miller, Contributing Editor & Research Analyst, Wealth Solutions Report

Latest Hightower Transaction Adds Fee-Only High Net Worth And Institutional RIA

Chicago-based Hightower announced a strategic investment in fee-only RIA Resource Consulting Group, based in Orlando, Florida, with approximately $2.5 billion in assets under management (AUM) as of June.

Gregg Biro, President & CEO, Resource Consulting Group

Gregg Biro, President and CEO of Resource Consulting Group, said, “We were seeking a forward-thinking strategic partner that could help us grow and evolve our business, while allowing us to deliver the same high-quality service to our clients that we’ve provided for 35 years. We are confident that Hightower’s entrepreneurial approach to partnership, coupled with their value-added service model, will help get us there faster.”

Bob Oros, Chairman & CEO, Hightower

Founded in 1988, Resource Consulting Group has 13 CFPs, three CPAs, two attorneys and one CFA. In total, the firm has 17 professionals and 13 support staff. It serves institutions and ultra-high and high net worth households.

“Their decision to join Hightower underscores our mutual respect for cultivating talent and reaffirms our shared people-centric approach to wealth management,” said Bob Oros, Chairman and CEO of Hightower. “I am delighted to welcome them to the Hightower community as they embark on the next phase of their growth journey.”

Mike Davis, Founder, Resource Consulting Group

Resource Consulting Group Founder Mike Davis said, “The Hightower partnership allows Resource Consulting Group to maintain autonomy and the firm’s distinct identity while gaining the necessary resources to elevate our client service offering to new heights.”

With AUM approximating $131 billion as of June 30, Hightower provides services at 135 advisory practices in 35 states and the District of Columbia. The firm announced 11 acquisitions this year, including $1.6 billion Meyer Capital Group in June and GMS Surgent, which provides tax advisory services, in July. In August, it facilitated the sub-acquisitions of Trellis Advisors by Highland Private Wealth Management and Wealth CMT by Fairport Wealth.

James Miller, Contributing Editor and Research Analyst at Wealth Solutions Report, can be reached at ContributingEd@wealthsolutionsreport.com.

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