By Hightower Advisors / February 13, 2023
Founded in 1984, the firm, which has approximately $625 million in assets under management and three offices in Massachusetts, provides full-service wealth management to individuals and families
CHICAGO — Feb. 13, 2023 – Hightower today announced it has made a strategic investment in Bickling Financial Services, Inc., a Lexington, Massachusetts-based registered investment advisor (RIA) with approximately $625 million in assets under management and three offices across the state.
Founded in 1984, Bickling Financial Services, Inc. (BFS) is a family-owned business. The firm’s founder, Dorothy Bickling, Ed. D., was one of the first 600 people—and one of the first women—to earn the Certified Financial Planner (CFP®) designation. Dorothy’s two sons, Spencer Betts and Andrew Betts, joined the firm in 2000 and 2007, respectively. Since joining the firm, Spencer and Andrew, now co-Managing Principals of BFS, helped BFS transition the practice to an independent RIA and have since led the firm’s evolution to become an institutionalized business.
“As a firm, we have experienced tremendous growth over the past few years,” said Spencer Betts, CFP®, who, along with his brother, Andrew Betts, MBA, CFP®, oversees the family-owned business. “To continue achieving our growth goals, we knew we needed a strategic partner that could help us scale the business and invest in its future. After speaking with several options in the marketplace, we concluded that Hightower has the right combination of resources and value-added services that will allow us to both serve clients and take the business to new heights.”
With 14 employees, including five advisors, Bickling Financial Services provides full-service wealth management and financial planning services designed to help clients achieve their long-term personal and financial goals.
“When it came to choosing a partner, we knew we wanted a firm that would add resources and expertise, but also give us the freedom to implement our strategic vision,” Andrew Betts said. “With Hightower, we have a partner who appreciates our vision and can provide the right level of support to help us follow through on our growth plan in an accelerated fashion. We see this as the next evolution of our business.”
Bickling Financial Services has strong ties to communities in New England and throughout the Northeast. Throughout its history, the firm has largely served affluent and high-net-worth client households.
“Spencer and Andy are young leaders who have ushered in tremendous growth over the past several years,” said Hightower Chairman and CEO Bob Oros. “We look forward to helping them achieve their ambitious growth goals, both organically and through talent acquisition, scale their operations, and develop the next-generation of leaders through programs like our Hightower Center for Leadership.”
Hightower offers its 132 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. Inorganic growth services include sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions. Advisory groups that partner with Hightower also gain access to economies of scale, deep industry relationships and a nationwide advisor community.
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 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.
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