Hightower announced that the firm has made a strategic investment in Smith Anglin, a financial planning and wealth management practice based in Dallas, Texas, with about $2 billion in assets under management. Originally founded in 1967, the 34-person Smith Anglin team offers an integrated retirement preparedness and tax preparation experience tailored to the aviation industry.
Smith Anglin marks the second strategic investment for Hightower this year. With a range of value-added services, including a national in-house trust company, business owner specialty services, and inorganic growth support, 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 features 140 advisory businesses in 35 states and the District of Columbia. Hightower offers a wide range of services to advance 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 collaborate with Hightower also receive access to inorganic growth services, including sourcing, valuation, deal structuring, due diligence, legal and regulatory support, pre- and post-close integration, and capital resources for M&A transactions.
As of June 30, 2024, Hightower’s assets under management (AUM) were approximately $156 billion.
Advisor/counsel: For this deal, Smith Anglin was advised by Berkshire Global Advisors LP, and Scheef & Stone provided legal counsel. For Hightower, Polsinelli PC provided legal counsel.
KEY QUOTES:
“We are really excited to welcome the team at Smith Anglin to Hightower. The storied organization has built a distinct business model and client focus, with deep experience serving the airline industry, and has demonstrated impressive organic growth over the last few years. We’re looking forward to helping them accelerate their growth as a respected aviation brand in the wealth management space.”
Hightower Chairman and CEO Bob Oros
“Our focus has always been on delivering wealth management for life, and our advisors work diligently to help our clients achieve their goals, dreams, and financial security. We’re really excited to be able to take advantage of Hightower’s resources, including its integrated tech stack and value-added services, which will allow us to continue to grow our business and help deliver on our mission to secure the financial well-being of our clients over the course of their lives.”
Steve Anglin, partner at Smith Anglin
