Hightower, one of the largest RIAs in the US, announced a deal to acquire a majority stake in NEPC, a Boston-based investment consulting and OCIO firm.
The deal is intended to enhance Hightower’s offerings for private wealth investors by giving them greater access to institutional-level investment research and alternative asset strategies.
NEPC, which advises institutional clients and ultra-high-net-worth families, reportedly manages over $1.66 trillion in assets and serves more than 400 clients globally. The partnership is expected to strengthen both firms' capabilities, particularly in providing research-driven, private market investment solutions to wealth management clients.
Together, Hightower and NEPC will manage more than $1.8 trillion in assets under advisement and $258 billion in assets under management.
In a statement commenting on the deal, Bob Oros, chairman and CEO of Hightower, highlighted the transformative and synergistic benefits of the deal.
“This is a transformational combination that highlights the future of financial services and wealth management. We create a stronger whole by maintaining our company identities and deploying our strengths together.”
He also emphasized that Hightower advisors will benefit from expanded investment opportunities as a result of the partnership.
Mike Manning, NEPC’s managing partner, who will join Hightower’s board of directors upon the deal's close, added that the partnership aligns with NEPC’s long-term goals.
“Hightower represents the ideal partner for us, as we leverage the strong growth of our current clients and continue our expansion into the private wealth market,” said Manning.
He stressed that NEPC will retain its culture and processes, ensuring continuity for clients while benefiting from the collaboration.
Hightower's deal for NEPC comes in the wake of another strategic investment it made in September, which added Florida-based Charles D. Hyman & Company and its $2.3 billion in AUM to the Hightower enterprise.
Earlier this year, the RIA with $131 billion in registered assets tapped AssetMark's ex-CEO Gurinder Ahluwalia as its new president, according to a Form ADV filing.
Oregon-based Eagle Wealth Management and Idaho-based West Oak Capital give Mercer 11 acquisitions in 2025, matching last year's total. “We think there's a great opportunity in the Pacific Northwest,” Mercer's Martine Lellis told InvestmentNews.
Osaic has now paid $17.2 million to settle claims involving former clients of Jim Walesa.
Osaic-owned CW Advisors has added more than $500 million to reach $14.5 billion in AUM, while Apella's latest deal brings more than $1 billion in new client assets.
The up-and-coming Los Angeles-based RIA is looking to tap Merchant's resources to strengthen its alts distribution, advisor recruitment, and family office services.
US wealth advisory business will get international footprint boost with new tie-ups.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
