Hightower adds $1.8 billion RIA in Kansas

In stride with much of the wealth management space right now, Hightower is locking in deals just under the wire of 2022 when the Biden administration is expected to enact more stringent taxes.

The Chicago-based aggregator announced Tuesday morning a “strategic investment” in 6 Meridian, a $1.8 billion registered investment adviser based in Wichita, Kansas.

As opposed to pure acquisitions, Hightower’s growth strategy involves a combination of cash and equity that leaves the target firm’s principals with an economic interest as well as strategic and management control after the deal is completed.

Founded in 2015 by Margaret Dechant, Thomas H. Kirk, Andrew Mies, Bryan Green, Pam Smith and Sarah Hampton, 6 Meridian works with corporate executives, entrepreneurs and other high-net-worth individuals and families.

The RIA has 24 employees, including 11 financial advisers.

In a prepared statement, Hightower chairman and chief executive Bob Oros described 6 Meridian as “a highly successful firm with a strong bench of next-generation talent, an impressive roster of clients and a robust, organic growth rate.”

Hightower has 121 advisory businesses in 34 states and the District of Columbia. As of the end of September, Hightower’s assets under administration were approximately $132.2 billion, and its assets under management were $104.1 billion.

The post Hightower adds $1.8 billion RIA in Kansas 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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