HighTower invests in $4.8 billion California advice firm

HighTower invests in $4.8 billion California advice firm
Beverly Hills RIA merges with San Diego's Delphi Private Advisors as part of deal.
APR 29, 2019

Chicago-based HighTower announced an investment Monday in LourdMurray, a Beverly Hills, Calif.-based advisory firm that manages $4.8 billion as a result of its own recent merger with San Diego, Calif-based Delphi Private Advisors. The merger deal was part of the investment transaction, HighTower said in a statement. The expanded advisory firm, which will operate under the LourdMurray name, has 34 employees in Beverly Hills, San Diego and Baton Rouge, La. HighTower now has completed 98 advisory transactions in 33 states, according to the firm.

Latest News

As layoffs commence, Commonwealth’s digital guru jumps ship
As layoffs commence, Commonwealth’s digital guru jumps ship

Christopher Blotto moved this month to Janney Montgomery Scott.

Fintech bytes: Advyzon lays claim to new category with 'all-in AI' launch
Fintech bytes: Advyzon lays claim to new category with 'all-in AI' launch

Finturk also added new form-filling and cash sweep tools to its AI-first CRM platform, while Zeplyn builds advisor coaching into its own AI operating system

There’s no advisor playbook for family succession feuds, but these skills help: UBS
There’s no advisor playbook for family succession feuds, but these skills help: UBS

“Ultimately, you just try to embrace collaboration,” said Greg Merrill of UBS.

NorthRock widens Minneapolis reach with Kowalski Financial deal
NorthRock widens Minneapolis reach with Kowalski Financial deal

Building on its Personal Office platform, NorthRock Partners' latest transaction brings more than $200 million in assets under management and five employees to the growing RIA.

Osaic deepens RISR partnership as advisors race to serve aging business owners
Osaic deepens RISR partnership as advisors race to serve aging business owners

Expanded deal pairs succession-planning software with a broker-dealer network already logging rapid AI adoption among 11,000 advisors.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income