Hightower announced that it has invested strategically in Financial Planning and Information Services (FPIS), a wealth management and financial planning team in De Pere, WI, with over $1.1 billion in assets under management.
Led by second generation leaders including President and CEO Ryan Wempe and Vice Presidents Dan Budinger and Rachel Brown, FPIS was launched in 1985 by Lon Mishler to provide wealth management services for clients.
As part of this deal, FPIS promoted two individuals to partner, Brock Becker and Carl Ekstrom, who are important to the team’s growth strategy. Going forward the 16-person team will retain its brand, philosophy, and its approach to personalized and high-touch client service in the local Green Bay community.
FPIS is the fifth firm Hightower made a strategic investment in this year. And with a range of value-added resources, including a national in-house trust company and a wholly owned CPA firm operating as a tax subsidiary offering high-end tax planning and preparation services, Hightower aims to create an environment for advisors to better align themselves with clients’ needs and experience the next phase of independence for their teams.
Hightower features 140 advisory teams in 35 states and the District of Columbia. And Hightower offers a wide range of services for accelerating organic growth, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll, and human resources. Plus, advisory groups that partner with Hightower also receive access to inorganic growth services such as sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions. As of June 30, 2024, Hightower’s assets under management (AUM) were about $156 billion.
FPIS was advised by Advisor Growth Strategies for this deal.
KEY QUOTES:
“FPIS built its practice on a core principle that is still its backbone nearly 40 years later. Their leaders’ decision to join Hightower highlights our shared dedication to community and the importance of developing long-term, generational wealth relationships. I could not be more pleased to welcome them into our community as they continue to grow their practice.”
Hightower Chairman and CEO Bob Oros
“We have always operated on the belief that long-term wealth relationships should be built on hard work, communication and a broad range of services. As our client-centric practice continues to grow, we’re pleased to join the Hightower team, gaining access to new services and tools that will help us better guide our clients through the triumphs and the challenges of life.”
FPIS President and CEO Ryan Wempe
