Hightower unit TC Wealth acquires $800 million firm

Both TC Wealth Partners and the firm it purchased, EFG Advisors, are based in the suburbs of Chicago.

Hightower Advisors said Wednesday that it facilitated a merger between one of its units, TC Wealth Partners, and EFG Advisors, a wealth management firm overseeing more than $800 million in assets.

Both TC Wealth Partners and EFG Advisors are based in the Chicago suburbs.

Hightower acquired TC Wealth in January 2022 and this is the firm’s first subacquisition. The deal for EFG Advisors brings TC Wealth’s total assets to more than $2 billion.,

EFG Advisors was founded in 2001 and is led by Thomas Olexa.

“By joining forces, we provide our clients with holistic offerings across every aspect of the financial-planning landscape,” Olexa said.

Hightower, a Chicago-based RIA aggregator, said that at the end of 2022, it had $144.3 billion in assets under administration and $113.7 billion in assets under management.

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