Hightower Advisors, a Chicago-based aggregator of registered investment advisors, has taken a stake in TEN Capital Wealth Advisors, a wealth management firm with offices in Spokane and Seattle, Washington, that oversees $1 billion in assets.
Hightower described TEN Capital as one of the fastest-growing firms in the Pacific Northwest and said the firm plans to increase its footprint in the region.
Tim Mitrovich founded Ten Capital in 2012. The team is led by Mitrovich as CEO and president Jacob Timm.
"We conducted an extensive search to find the right firm that would support our growth with a strong platform; a firm that also understood how important it was to maintain our special client experience," Mitrovich said in a statement.
Timm added that Hightower was chosen for its "incredible suite of value-added services, particularly business owners support, who are a large component of our practice."
The law firm Alston & Bird and consultant Brett Zaniewski served as TEN Capital’s consultants on the transaction.
The investment in TEN Capital was Hightower’s fourth transaction this year. Terms were not disclosed.
Hightower had $119.9 billion in assets under management and $148.2 billion in assets under administration as of March 31, according to the statement.
Goldman Sachs retirement survey finds 83% want guaranteed income, while the annuities providing that income increasingly hold private credit.
The AI meeting assistant's Advisor Intelligence plugin turns client conversation data into annual reviews, tax scans and attrition alerts.
Chuck Roberts and Stifel have been facing scrutiny due to sales of structured products and structured notes.
Among other updates, the proposals would let advisors to regulated funds earn performance fees and allow interval funds to offer monthly repurchases.
What will financial advice look like 20 years from now? Evan Vladem explores how AI may transform wealth management while reinforcing the enduring value of human guidance, trust, and empathy.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
