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.
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
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