Hightower takes stake in $1.7 billion RIA

Hightower takes stake in $1.7 billion RIA
Waltham, Massachusetts-based Argent Wealth Management has 11 advisers
AUG 27, 2020

Hightower, a Chicago-based registered investment adviser, has taken a stake in Argent Wealth Management, a $1.7 billion RIA based in Waltham, Massachusetts. The deal is Hightower’s seventh transaction so far this year, following Tuesday's announcement that it had taken a stake in North Carolina-based Stearns Financial Group.

Founded in 1992, Argent has 22 employees, including 11 advisers. The transaction, the terms of which were not disclosed, is expected to close in the fourth quarter.

Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.