Hightower Facilitates Its Fourth Sub-Acquisition for Fairport Wealth, Adding New Jersey-Based Advisor

Fairport Wealth continues its expansion eastward with the addition of a $102 million advisory business in Princeton, N.J.

CHICAGO—Oct. 5, 2022—Hightower today announced that it has facilitated a merger for Fairport Wealth, a Hightower advisory business in Cleveland, Ohio. Optimal Portfolio, LLC, led by Yu Oen in Princeton, N.J., with $102 million in assets under management (AUM), will join Fairport’s growing business of wealth management professionals, bringing Fairport’s AUM to $3.4 billion.

Mr. Oen founded Optimal Portfolio, an SEC-registered fiduciary investment advisory firm in 2010. Today, he manages approximately 50 high-net-worth clients, including both families and businesses. Over the past 12 years, Oen has developed robust asset management and financial-planning capabilities.

“Between his background as a successful business owner and experience in corporate finance, investment banking and private equity, Yu brings a unique skillset and perspective that will serve as a great benefit to our entire team,” said Fairport Wealth President Matt Logar. “We are excited to expand into this key region and support Yu in further growing his business.”

Mr. Oen specializes in serving executives and business owners, including a number of former Wall Street executives. The business will operate in New Jersey under the Fairport brand name.

“As I considered my business goals, I recognized that joining Fairport Wealth would give me the best way to grow my practice and ensure continuity of service to our clients well into the future,” Oen said. “Hightower’s expertise in compliance and operations, coupled with offering a wide array of value-added services, including those for business owners, will enable me to better serve my clients as my practice continues to grow. I’m excited to join the company and begin making use of their many resources.”

The Hightower M&A team has professionals dedicated to helping Hightower advisory businesses execute sub-acquisitions—providing sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for transactions. This is Fairport Wealth’s fourth sub-acquisition in the last three years. In August, Fairport added a team led by Buffalo, N.Y.-based advisor Brian Geary. In 2021, Fairport added FMA Advisory of Harrisburg, Pa., and in 2019, Fairport added Leonetti & Associates, an existing Hightower advisory business located in Buffalo Grove, Ill.

“Yu’s entrepreneurial spirit is exactly what we look for in new partners,” said Hightower Chairman and CEO Bob Oros. “With an attractive client base, Optimal Portfolio aligns with Fairport and Hightower, both culturally and operationally. We look forward to bringing Yu into the fold and supporting him in his overall goals.”

In addition to inorganic support, Hightower offers its 131 advisory businesses in 34 states and the District of Columbia a range of services designed to catalyze and accelerate organic growth, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Advisors benefit from streamlined access to the Hightower National Trust Company, estate & financial planning, and business management services such as personal CFO, bookkeeping, bill pay and tax preparation for their clients.

As of June 30, 2022, Hightower’s assets under management (AUM) were $108.4 billion, and assets under administration were approximately $132.6 billion.

About Hightower

Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations, and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower’s capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of “well-th. rebalanced.” Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower’s collaborative business model at www.hightoweradvisors.com.

Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.

Media Contact:
Siobhan Nolan
JConnelly
(862) 217-9585
snolan@jconnelly.com