By Hightower Advisors / February 8, 2023
Both firms are based in the Greater Chicago area and specialize in serving business owners
CHICAGO—Feb. 8, 2023—Hightower today announced that it has facilitated a strategic merger between TC Wealth Partners and EFG Advisors, an approximately $800 million independent, boutique wealth management, estate and financial planning firm that serves business owners personally and throughout the full life cycle of their businesses. The merger brings TC Wealth Partners’ assets to more than $2 billion.
Founded in 2001, EFG Advisors is led by Thomas P. Olexa, CLU, CHFC, CFP, and includes a talented and experienced team. TC Wealth Partners also serves business owners and institutions, and this strategic merger further strengthens its capabilities, particularly in the life insurance and estate planning space where EFG Advisors has a strong practice.
“We are excited to offer our clients expanded access to even better capabilities through TC Wealth Partners and Hightower’s robust value-added services,” Mr. Olexa said. “By joining forces, we provide our clients with holistic offerings across every aspect of the financial-planning landscape. We look forward to becoming part of the Hightower community and ensuring our clients benefit from the addition of these top-notch services and capabilities.”
Hightower acquired TC Wealth Partners in January 2022. At the time, TC Wealth Partners wanted to grow its footprint across the Greater Midwest and scale nationally. This is the first sub-acquisition for TC Wealth Partners, which, like EFG Advisors, is based in suburban Chicago.
“With EFG Advisors we have a partner who is aligned with us in terms of service, specialization and culture,” said TC Wealth Partners CEO William M. Giffin. “We have always believed culture is key to success. It’s one of the reasons we selected Hightower and it’s why we have chosen to partner with EFG Advisors, a firm that shares our unwavering commitment to our clients and their businesses.”
TC Wealth Partners provides diversified wealth, trust and advisory services to more than 800 clients throughout the country. When Hightower made a strategic investment in TC Wealth Partners last year, it also acquired Trust Company of Illinois, a TC Wealth subsidiary, which delivers trust and estate planning, administration, executor and co-executor services and retirement plan services.
“From the beginning, it was clear to us that TC Wealth was a firm that had the ability to grow and scale,” said Hightower Chairman and CEO Bob Oros. “This strategic merger is step one. We look forward to welcoming EFG Advisors into the Hightower community and continuing to help TC Wealth grow its footprint and clientele and further expand its services.”
The Hightower M&A team has professionals dedicated to helping Hightower advisory businesses execute mergers and sub-acquisitions—providing sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for transactions.
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 December 31, 2022, Hightower’s assets under administration were approximately $144.3 billion, and assets under management (AUM) were $113.7 billion, an increase from $106.1 billion as of September 30, 2022.
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 www.hightoweradvisors.com.
Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.
Hightower Advisors is registered with Hightower Securities, LLC, member FINRA and SIPC, and with Hightower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through Hightower Securities, LLC; advisory services are offered through Hightower Advisors, LLC.
This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.
All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.
This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of Hightower Advisors, LLC, or any of its affiliates.
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