By Hightower Advisors / September 7, 2021
The $1.5 billion advisory business will leverage Hightower's organic growth offerings.
CHICAGO – September 7, 2021 – Hightower today announced it has made a strategic investment in Alexandria Capital, a $1.5 billion advisory business based in Arlington, Va., with offices in New York City, Boston, Portland, Ore., and Juneau, Alaska. Alexandria Capital is joining Hightower to leverage the firm's middle- and back-office and business development capabilities to drive organic growth.
Led by CEO Augustine Hong and chief investment officer Jonathan Ferguson, Alexandria Capital serves successful professionals, entrepreneurs, foundations, family offices, and retirement plans. The firm, founded in 1987, grew from $108 million AUM in 2010 to $1.5 billion AUM in just over a decade, the seminal growth driven by its merger with FIC Capital, Inc. in 2017. The group's 21 employees, including 10 advisors, operate under the group's Think Brilliant Platform™, which brings together an ensemble of experienced, collaborative wealth planning, investment, and tax professionals to help clients preserve and grow wealth.
"Augustine, Jon, and Larry Waterhouse and Steven Park, the other principals of Alexandria, have done a stellar job growing Alexandria Capital through a focused strategy of strategic acquisitions and thoughtfully delivered client service. By joining Hightower and using our operational and growth acceleration resources, they will free up time to deepen their client relationships and attract new business," said Hightower chairman and CEO Bob Oros. "We're excited to welcome them to Hightower and help them to further scale."
"Joining Hightower will magnify our ability to deliver the services that clients value most and give us a wide range of capabilities that would be difficult to put in place on our own," stated Jonathan Ferguson. Steven Park echoed this sentiment by saying, "From Hightower’s technology and marketing to alternative investments and national trust services, our combined resources represent a compelling proposition for Alexandria Capital’s high net-worth families as well as our institutional clients."
Hightower offers its 117 advisory businesses in 34 states and the District of Columbia a range of services designed to catalyze and accelerate organic and inorganic growth, including business development consulting, leadership and team development, marketing support, technology, investment management resources, compliance, accounting, payroll, and human resources. Inorganic growth services include M&A sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for transactions. Advisory groups that partner with Hightower also gain access to economies of scale, deep industry relationships, and a nationwide advisor community.
As of June 30, 2021, Hightower's assets under administration (AUA) were approximately $125.2 billion, and its assets under management (AUM) were $101 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.
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.