CHICAGO, Jan. 4, 2022 /PRNewswire/ — Hightower today announced it has acquired TC Wealth Partners (“TC Wealth”), a wealth management, trust and retirement plan services company based in Chicago and Downers Grove, Illinois. TC Wealth currently oversees approximately $1.65 billion in assets across a client base of high-net-worth individuals, families, business owners and institutions.
As part of the transaction, Hightower has also acquired Trust Company of Illinois, a TC Wealth subsidiary, which delivers trust and estate planning, administration, guardianship, executor and co-executor services and retirement plan services. This acquisition serves as a continued step toward Hightower’s mission to deliver sophisticated trust and estate services across the broader Hightower community.
Founded in 1993, TC Wealth provides diversified wealth, trust and plan advisory services to more than 800 clients throughout the country. The Company has 30 employees, including a 5-person management team led by 30-year industry veteran and CEO, William Giffin, all of whom will continue in their leadership roles post-transaction.
“TC Wealth is a highly successful business with long-standing clients and deep expertise in financial planning, investment management, trust, fiduciary and retirement plan advisory services,” said Hightower Chairman & CEO Bob Oros. “The group has a strong footprint in the greater Midwest, with significant potential to scale nationally. We are excited to welcome Bill Giffin and the team and see a strategic opportunity to grow their business together.”
“As a business with a robust roster of affluent client families and a diverse range of institutional clientele, we have ambitions to grow our footprint and expand our capabilities—though of paramount importance to us is keeping the boutique feel of our business and our relationships,” said Mr. Giffin. “Joining Hightower – a large, institutional-class RIA – allows us to leverage their operational infrastructure, strategic guidance, talent and business development capabilities so we can focus on what we do best: helping people in need of wealth management advice.”
Hightower offers its 122 advisory businesses in 34 states and the District of Columbia a range of services designed to catalyze and accelerate organic growth, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Inorganic growth services include sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions. Advisory groups that partner with Hightower also gain access to economies of scale, deep industry relationships and a nationwide advisor community.
As of September 30, 2021, Hightower’s assets under administration (AUA) were approximately $132.2 billion and its assets under management (AUM) were $104.1 billion.
In the transaction, TC Wealth Partners was advised by Cambridge International Partners.
The transaction closed on December 31, 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.