Sovereign Wealth Advisors, a registered investment adviser in Bellevue, Washington, managing $350 million, has merged with Hightower Bellevue, a unit of Chicago-based Hightower. Together, the two same-town firms, which will operate under the Hightower Bellevue name, will manage $1 billion.
Terms of the transaction, facilitated by Hightower, were not disclosed.
The Sovereign Wealth leadership team includes Scott Sheffield, Tara Johnson and Sharon Lailey.
Sovereign Wealth has been providing wealth management and financial guidance across the Pacific Northwest for more than 30 years, specializing in financial and retirement income planning, investment and tax management and estate planning, Hightower said in a press release Monday.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
The Atlanta, Georgia-based national wealth firm revealed its new PE partner as prior backers Wealth Partners Capital Group and HGGC’s Aspire Holdings exited their investments.
The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
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.