Hightower acquires stake in $3.3 billion RIA
Adding Frontier Investment Management brings the firm's total AUM to $56.7 billion
Hightower, the Chicago-based registered investment advisory firm, has made an investment in Frontier Investment Management, a Dallas, Texas-based RIA managing $3.3 billion.
The addition of Frontier, the details of which were not disclosed in a press release announcing the investment, brings Hightower’s assets under management to $56.7 billion.
Founded in 1994, Frontier has three offices in Texas — Dallas, Houston and Austin — as well as offices in New Orleans, Louisiana; Denver, Colorado; San Ramon and San Diego, California; Scottsdale, Arizona; and St. Petersburg, Florida. It is led by Principals Brian Hattendorf, Richard Sowden and Gary Schoen, and employs 42.
Hightower now has 108 advisory businesses in 33 states.
LPL nabs $1 billion hybrid from Cetera
Omaha, Nebraska-based Tagge Rutherford Financial Group has 25 advisers
Planning for uncertainty around Social Security
The shutdown caused by the pandemic threw millions of people out of work, which cut into the FICA payroll taxes that fund Social Security payments
RBC advisers managing $416 million move to Raymond James
Kirk Abrahamson and David Gray are joining the firm's employee unit in West Des Moines, Iowa
