News

Hightower Launches Tax Subsidiary Through Strategic Investment in Tax and Advisory Firm GMS Surgent

By Hightower Advisors / July 10, 2023

Hightower advisors will gain direct, streamlined access to sophisticated business and individual tax and advisory services – including full service CPA firm capabilities – for their clients and their families

CHICAGO—July 10, 2023—Hightower today announced it has made a strategic investment in GMS Surgent, a preeminent suburban Philadelphia based tax and advisory firm that provides high-net-worth and business clients with tax advice and advisory services, including accounting, tax preparation and other tax and wealth planning capabilities. Through the strategic partnership, Hightower advisors will have direct access to sophisticated tax management services for their clients and their families.

“We are thrilled to welcome GMS Surgent into the Hightower community, enabling us to provide advisors with a vetted resource to deliver comprehensive tax services to clients via a seamless experience,” said Hightower Chairman and CEO Bob Oros. “At Hightower, we actively foster a collaborative environment where holistic wealth is our foremost mission, and this alliance empowers advisors to focus on their core services and strengthen relationships with clients.”

Led by Managing Partners Brian Gallagher, Jack Surgent, and Lauren Adamski, GMS Surgent operates with a client-centric mission of “Personal Attention – Valuable Results.” Established in 1992, and with a team of approximately 30 employees, the firm is renowned for its commitment to delivering exceptional tax and advisory services.

“As we work closely with Hightower, we are excited to have the opportunity to enhance the client experience with our knowledge of tax planning and business consulting,” said Brian Gallagher. Jack Surgent added, “We were impressed with Hightower’s unwavering focus on the client experience, and we feel we can contribute to the broad range of service Hightower can offer its clients.”

This partnership represents the latest investment in Hightower’s Wealth Solutions platform, a suite of services that position advisors to deepen client relationships by meeting their financial needs. As a wholly-owned tax subsidiary, the GMS Surgent team will add to the suite of tools Hightower already offers which include trust services, estate planning, insurance placement, business owner services and more.

“GMS Surgent” is the brand name under which GMS Surgent, LLC and GMS Surgent Advisors, LLC, independently owned entities, provide professional services in an alternative practice structure in accordance with applicable professional standards. GMS Surgent, LLC is a licensed CPA firm that provides attest services, and GMS Surgent Advisors, LLC provides tax and business consulting services.

In addition to inorganic support, Hightower offers its 135 advisory business 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 March 31, 2023, Hightower’s assets under administration were approximately $148.2 billion, and assets under management (AUM) were $119.9 billion.

The GMS Surgent transaction closed June 30, 2023. Berkshire Global Advisors served as the exclusive financial advisor to GMS Surgent.

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
hightower@jconnelly.com

Hightower Advisors is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC (member FINRA and SIPC). Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC.

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