News

Hightower Makes Strategic Investment in Wellspring Associates

By Hightower Advisors / May 13, 2020

Wellspring, a specialist in estate planning and intergenerational wealth transfer, will act as a resource for Hightower advisors seeking estate and tax planning solutions for affluent clients

CHICAGO – April 1, 2020 – Hightower today announced it has made a strategic investment in Wellspring Associates, a boutique wealth planning and consulting firm specializing in estate, tax, philanthropic and legacy planning for ultra-high net worth families and individuals. Wellspring has offices in Atlanta and Dallas, serving families each with an average of $50 million or more in assets.

By partnering with Hightower, Wellspring will expand its offering to high net worth families with assets of $5 million and up, and will act as a resource for Hightower advisory businesses seeking to provide differentiated planning and wealth transfer solutions to their high net worth and ultra-high net worth clients.

“As an estate and tax-planning business, the Wellspring transaction represents a new dimension of Hightower’s M&A activity: We are actively using our size and scale to provide additional resources, capabilities and value to our advisors by giving them access to intergenerational wealth transfer and legacy planning services they may not otherwise have,” said Bob Oros, CEO of Hightower. “We are excited to be partnering with Wellspring and supporting them as they expand their offering to our community of advisors.”

Wellspring Associates has decades of experience serving ultra-high net worth families with complex financial lives and brings in-depth knowledge of the highly integrated trust, estate planning and insurance strategies required to meet their needs. Founded in 1981, Wellspring has five wealth integration teams, with a total of 15 employees. Its Wealth Integration Solution™ helps clients clarify their goals and family legacy, and integrates their financial advisor, family office, attorney, corporate attorney and CPA into the process of wealth transfer, business succession and philanthropic planning.

“Hightower is providing us with an unprecedented opportunity to collaborate with its advisors and business development team to find ways to add value to our collective client relationships,” said Greg Raabe, Managing Director at Wellspring Associates. “This collaboration, as well as Hightower’s strategic support and operational infrastructure, will help us exponentially grow and scale our client base.”

Hightower offers wealth management businesses a capital-rich partner and a customizable suite of services to help accelerate growth. Each strategic relationship or acquisition has its own bespoke set of solutions based on business needs. In addition to capital, Hightower’s offerings include an advanced, integrated platform, including technology, compliance, accounting, payroll, human resources, investment research/due diligence and marketing services.

Recent Hightower transactions include Schultz Collins, Lexington Wealth Management, LourdMurray, Green Square Wealth Management, WealthTrust and Salient Private Client (now Hightower Texas). As of Dec. 31, 2019, Hightower’s assets under administration (AUA) were approximately $76.8 billion and its assets under management (AUM) were $57.4 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:
Patty Buchanan
JConnelly

pbuchanan@jconnelly.com
973-567-9415

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.

This is not an offer to buy or sell securities, nor should anything contained herein be construed as a recommendation or advice of any kind. Consult with an appropriately credentialed professional before making any financial, investment, tax or legal decision. No investment process is free of risk, and there is no guarantee that any investment process or investment opportunities will be profitable or suitable for all investors. Past performance is neither indicative nor a guarantee of future results. You cannot invest directly in an index.

These materials were created for informational purposes only; the opinions and positions stated are those of the author(s) and are not necessarily the official opinion or position of Hightower Advisors, LLC or its affiliates (“Hightower”). Any examples used are for illustrative purposes only and based on generic assumptions. All data or other information referenced is from sources believed to be reliable but not independently verified. Information provided is as of the date referenced and is subject to change without notice. Hightower assumes no liability for any action made or taken in reliance on or relating in any way to this information. Hightower makes no representations or warranties, express or implied, as to the accuracy or completeness of the information, for statements or errors or omissions, or results obtained from the use of this information. References to any person, organization, or the inclusion of external hyperlinks does not constitute endorsement (or guarantee of accuracy or safety) by Hightower of any such person, organization or linked website or the information, products or services contained therein.

Click here for definitions of and disclosures specific to commonly used terms.