RIABiz

News, Vision & Voice for the Advisory Community

RIABiz

HighTower picks up $6.4-billion roll-up on the cheap but the valuation may reflect WealthTrust's stagnant growth and profitability

The Chicago roll-up gets an embattled league of RIAs for about $70 million by persuading its financiers to double down and private equity owners to suck it up

Thursday, April 13, 2017 – 11:35 PM by Brooke Southall
Admin:
0 Comments
no description available
Sagar Kurada: Our new facility will allow HighTower to fund additional acquisitions.

Related Moves

Elliot S. Weissbluth, Hightower Advisors mastermind, cashes out and vacates chairman role as Pershing's ex-CEO Lisa Dolly takes a board seat

The Chicago rollup's founder got paid better by doing the second-stage exit and the new cast on the Board also includes Bob Oros ascending to chair and Darrell Horn of Green Square Wealth Management joining

February 19, 2021 – 8:58 PM

As Bob Oros-led HighTower reboots, it bags an ex-Goldman RIA, hires two, makes a CMO imminent, and clarifies mission

The new CEO will need to somehow weave together the debris of the first roll-up run and the new one to the satisfaction of RIAs and the hundreds of people already inside the HighTower umbrella

March 20, 2019 – 11:32 PM

HighTower gets a new CEO, to be revealed later, as Elliot Weissbluth moves upstairs

Elliot Weissbluth's move upstairs ends an era, as Thomas H. Lee's reign begins in earnest, and Mark Cabezas comes in as M&A head.

September 13, 2018 – 2:21 PM


Mentioned in this article:

DeVoe & Company
Consulting Firm
Top Executive: David DeVoe

Silver Lane Advisors
Mergers and Acquisition Firm
Top Executive: Elizabeth Nesvold




RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING


RIABiz Directory sponsored by:

Directory Sponsor Logo