CHICAGO, Oct. 14, 2021 /PRNewswire/ — Hightower today announced it has made a strategic investment in Bluerock Wealth Management LLC (“Bluerock”), a $700 million advisory business in Alpharetta, Ga. Bluerock, which provides individuals and families with personalized financial planning, strategic investing and proactive tax consulting, will leverage Hightower for its operational, business consulting and value-added advisor services.
Founded in 2019 by Raj Chokshi and Rachael Neil, both of whom have more than 20 years of wealth management experience, Bluerock predominantly serves the fast-growing community of affluent clients in Southeastern U.S., with a particular focus on mid-career technology and medical professionals and their families. Bluerock has 11 employees, including 5 advisors.
“Bluerock is a high-performance business with mid to high double-digit organic growth and an exciting future. Raj and Rachael have built an impressive roster of clients in the accumulation phase of their careers, in a region that is experiencing significant wealth creation,” said Bob Oros, Hightower chairman and CEO. “To achieve the exponential growth they seek, Raj, Rachael and the team will rely on Hightower to support their middle and back-office needs so they can spend more time with clients and prospecting for new business. We’re thrilled to welcome such a talented and energetic team to the Hightower community.”
“After two years of rapid growth and expansion, we could see that to maintain and accelerate our momentum we needed a partner that could give us the size, scale and institutional-class support necessary to amplify our efforts,” said Bluerock CEO and Wealth Manager Raj Chokshi. “We chose Hightower because of the immense investment the firm has made across its entire platform, from technology, HR, trust and estate capabilities to marketing and business development support. These services will allow us to focus on serving clients, nurturing prospects and attracting new assets.”
“With all the growth in the greater Atlanta area and Southeast region, we are particularly excited about Hightower’s vast digital marketing and business development resources. Utilizing these services will be critical in helping us communicate our value, message and story, and ultimately turn prospects into clients,” said Rachael Neil, Bluerock partner and wealth manager. “We also plan to leverage Hightower’s experienced recruitment team to ensure we have the right talent in place as we grow.”
Hightower offers its 119 advisory businesses in 34 states and the District of Columbia a range of services designed to catalyze and accelerate organic and inorganic growth, including business development consulting, leadership and team development, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Inorganic growth services include M&A sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for transactions. Advisory groups that partner with Hightower also gain access to economies of scale, deep industry relationships and a nationwide advisor community.
As of June 30, 2021, Hightower’s assets under administration (AUA) were approximately $125.2 billion, and its assets under management (AUM) were $101 billion.
The Bluerock transaction is expected to close in the fourth quarter of 2021.
Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower’s capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of “well-th. rebalanced.” Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower’s collaborative business model at www.hightoweradvisors.com.
Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.
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