Stralem & Co., a New York firm with $280 million in assets under advisement, is merging into Fischer & Co., a 54-year-old New York wealth management firm that advises on $520 million in assets and is part of Hightower.
The combined firm will be known as Fischer Stralem Advisors. It will have 13 employees, including five advisers.
Hightower’s mergers and acquisitions team facilitated the acquisition, the company said in a release.
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Quarterly analysis of retirement accounts highlights positive behavior.
Insiders say the Wall Street giant is looking to let clients count certain crypto holdings as collateral or, in some cases, assets in their overall net worth.
The two wealth tech firms are bolstering their leadership as they take differing paths towards growth and improved advisor services.
“We think this happened because of Anderson’s age and that he was possibly leaving,” said the advisor’s attorney.
The newly appointed leader will be responsible for overseeing fiduciary governance, regulatory compliance, and risk management at Cetera's trust services company.
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