Hightower has expanded its wealth footprint in Florida as it welcomes a three decade-old planning practice to its network.
The national RIA has announced a strategic investment in Charles D. Hyman & Company, a Ponte Vedra Beach-based wealth management firm with $2.3 billion in assets under management.
Charles D. Hyman & Co. has provided wealth management services for over three decades, advising individuals, families, trusts, charitable organizations, and foundations. The firm, known for its relationship-focused approach, emphasizes long-term investment objectives and a highly personalized service model. The five-person team has worked closely together for years, maintaining a commitment to client families across generations.
“Charles D. Hyman & Company has a strong reputation and long history of serving as trusted wealth advisors to families across generations in Ponte Vedra Beach and beyond,” Bob Oros, Hightower chairman and CEO, said in a statement. “Those relationships, built on integrity of purpose and excellence in portfolio management over 30 years, will continue to thrive as part of our new Hightower partnership."
"Joining Hightower will allow us to add additional operational, regulatory, and technological infrastructure as well as leverage an expanded set of new wealth solutions and services,” said Charles Hyman, the Florida-based firm's eponymous founder and president. “We’re confident that we have found the right partner in Hightower.”
With this investment, Hightower now encompasses 140 advisory businesses across 35 states and Washington, D.C. Hightower’s total AUM reached approximately $156 billion as of June 30, 2024.
The RIA's deal in Florida builds on other moves earlier this year. In April, it found its first-ever president in Gurinder Ahluwalia, an industry veteran and executive partner at Thomas H. Lee Partners, its private equity owner. And earlier in January, it completed its strategic investment in Capital Management Group, a New York-based firm with $3.3 billion in assets.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
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
