Hightower announced that it has invested strategically in Lindbrook Capital, a financial planning and wealth management practice with about $3.8 billion in assets under management and offices in Los Angeles, Calabasas, California, and New York City.
Lindbrook Capital is an independent wealth management practice that provides highly customized investment management and financial planning services to affluent families, individuals, foundations, and endowments. The 10-person organization is headed by Managing Partners Benjamin Posen and Tyler Dritz, who collaborate with Lee Samson, a partner at Lindbrook Capital.
Lindbrook Capital marks Hightower’s first strategic investment this year. And with a range of value-added services, including a national in-house trust company and a wholly owned CPA practice, Hightower offers its advisors with the resources to better align with client needs and offers the next phase of growth and support for their practices.
The nationwide Hightower advisor community now comprises of over 140 advisory businesses in 35 states and the District of Columbia. And Hightower provides 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. Advisory groups that partner with Hightower also access 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 December 31, 2024, assets under management (AUM) for Hightower and its affiliates were approximately $168 billion.
Advisors/counsel: For the deal, Lindbrook was advised by Colchester Partners and Kirkland & Ellis provided legal counsel. For Hightower, McDermott, Will & Emery provided legal counsel.
KEY QUOTES:
“We have known the principals at Lindbrook Capital for more than a decade and are excited for them to join Hightower. Under the seasoned management of Ben and Tyler, the team has built an impressive business with an attractive client base that includes some of today’s top business and entertainment executives.”
Hightower Chairman and CEO Bob Oros
“We thought long and hard about our options and determined Hightower is the right partner. We aren’t interested in being a serial acquirer and we had to preserve the culture and investment autonomy that our clients expect from Lindbrook.”
Benjamin Posen
“In Hightower, we found a partner that could help us streamline non-core functions and created a path for us to be meaningfully rewarded as our clients grow along with us.”
Tyler Dritz
