Hightower to Take a Stake in $700M Georgia RIA

To gain 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," Oros said in a statement.

Bluerock underwent "two years of rapid growth and expansion," according to Chokshi. After that, "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," he explained in the announcement.

"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," Chokshi said. "These services will allow us to focus on serving clients, nurturing prospects and attracting new assets."

Pointing to the growth being seen in the Greater Atlanta area and the Southeast, Neil said: "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."

Bluerock also intends to "leverage Hightower's experienced recruitment team to ensure we have the right talent in place as we grow," she added.

Hightower now has 119 advisory businesses in 34 states and the District of Columbia. As of June 30, its assets under administration were about $125.2 billion, while its assets under management were $101 billion, according to the company.

(Pictured: Bob Oros, CEO of Hightower)