Hightower Backs $2.3B Florida Wealth Firm
Hightower, led by Bob Oros, now works with 140 advisory businesses.
Hightower has made a strategic investment in Charles D. Hyman & Co., an RIA based in Ponte Vedra Beach, Florida, with $2.3 billion in assets under management.
The five-person team has worked together for decades, according to the announcement. Joining forces with Hightower will allow the firm to expand its operational, regulatory and technological infrastructure.
“We’re confident that we have found the right partner in Hightower,” Charles Hyman, president and founder of the firm, said in a statement.
Hyman said his team will also gain access to an expanded set of wealth solutions and services.
Bob Oros, Hightower’s chairman and CEO, cited Charles D. Hyman & Co.’s dedication to “personalized, caring service” and its “enduring commitment” to clients as drivers of the deal.
With this latest strategic investment, the Hightower advisor community now comprises 140 advisory businesses in 35 states and the District of Columbia, according to the announcement. As of June 30, Hightower’s assets under management were about $156 billion.
Hightower supports these firms with a range of services for accelerating organic growth, including business development consulting, talent acquisition, marketing support, investment management resources and technology. Partner firms also receive access to inorganic growth services such as sourcing, valuation, deal structuring and due diligence.
Pictured: Hightower CEO Bob Oros