Hightower adds $1.6 billion TC Wealth Partners

Hightower announced the acquisition of TC Wealth Partners, a wealth management, trust and retirement plan services company overseeing $1.65 billion in assets.

Both companies are based in the Chicago area.

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.

The announcement described the deal as a “continued step toward Hightower’s mission to deliver sophisticated trust and estate services across the broader Hightower community.”

TC Wealth was founded in 1993, serves more than 800 clients throughout the country, and has 30 employees, including a five-person management team, all of whom will continue in their leadership roles post-transaction. The firm is led by CEO William Giffin, a 30-year industry veteran.

“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,” Bob Oros, Hightower chairman and chief executive, said in a prepared statement.

“The group has a strong footprint in the greater Midwest, with significant potential to scale nationally,” Oros said. “We are excited to welcome Bill Giffin and the team and see a strategic opportunity to grow their business together.”

Hightower has 122 advisory businesses in 34 states and the District of Columbia. According to its latest financial statements, Hightower has $132.2 billion under administration, and $104.1 billion under management.

The transaction closed Dec. 31.

The post Hightower adds $1.6 billion TC Wealth Partners appeared first on InvestmentNews.

Andrew is half-human, half-gamer. He’s also a science fiction author writing for BleeBot.

Andrew Vincent
Andrew is half-human, half-gamer. He's also a science fiction author writing for BleeBot.
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