Hightower, which was among last year's most prolific purchasers, has announced its third deal of 2021 with the acquisition of Siller & Cohen Family Wealth Advisors.
The $830 million Rye Brook, New York-based registered investment adviser was founded in 1988 by Randy Siller and Jeffrey Cohen. The firm serves entrepreneurs and business owners, C-suite executives and wealthy families.
Chicago-based Hightower, which has more than $102 billion under advisement and nearly $80 billion under management, emerged as one of the most aggressive aggregators last year, when it made nine acquisitions last year.
“Siller & Cohen, a highly successful business serving affluent clients with complex financial lives, has a prominent reputation in the New York metro area for its highly effective estate planning methodology and holistic wealth management for multiple generations of families,” Hightower CEO Bob Oros said in a prepared statement. “We are thrilled and honored that they have chosen Hightower for the next phase of their growth and welcome them to our advisor community.”
Hightower has 115 advisory businesses in 33 states.
“Hightower’s range of services – from investment management insights to marketing and business development support – are highly suited to helping us enter the next chapter of our growth,” Cohen said in the statement. “We are excited to consult with the Investment Solutions group about our asset allocation models and content needs, and will work closely with the Hightower marketing team to build out a range of multi-media vehicles to engage with our clients and potential clients.”
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