Hightower strengthens its presence in the Southeast region by adding $2.5 billion registered investment advisor in Orlando, FL
CHICAGO, Nov. 7, 2023 /PRNewswire/ — Hightower today announced it has made a strategic investment in Resource Consulting Group, a fee-only registered investment advisor (“RIA”) based in Orlando, FL with approximately $2.5 billion in assets under management (as of June 2023).
Founded in 1988, Resource Consulting Group offers academic-based investment management, financial planning and retirement planning services to a nationwide client base of high-net-worth and ultra-high-net worth households, as well as select institutional clients.
“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,” said Gregg Biro, President and CEO of Resource Consulting Group. “We are confident that Hightower’s entrepreneurial approach to partnership, coupled with their value-added service model, will help get us there faster.”
“Resource Consulting Group’s commitment to their clients, alongside their unwavering dedication to fostering personal growth of their employees aligns perfectly with our core values,” said Hightower Chairman and CEO Bob Oros. “Their decision to join Hightower underscores our mutual respect for cultivating talent and reaffirms our shared people-centric approach to wealth management. I am delighted to welcome them to the Hightower community as they embark on the next phase of their growth journey.”
Resource Consulting Group has a credentialed staff of 30 employees, the vast majority long tenured. Their team includes 13 CFPs, three CPAs, two attorneys and one CFA among its 17 advisory services professionals and 13 support personnel.
“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,” said Resource Consulting Group Founder Mike Davis.
This year, Hightower has announced 11 acquisitions, including GMS Surgent, a Pennsylvania-based, full-service CPA firm that Hightower advisors are able to leverage for tax advisory services for its clients. Hightower offers its range of services across 135 financial advisory practices in 35 states and the District of Columbia. As of June 30, 2023, Hightower’s assets under management (AUM) were approximately $131 billion.
In the transaction, Resource Consulting Group was advised by Cambridge International Partners.
Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower’s capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of “well-th. rebalanced.” Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower’s collaborative business model at www.hightoweradvisors.com.
Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.