HomeUSAArgent Wealth Management Receives Strategic Investment from Hightower

Argent Wealth Management Receives Strategic Investment from Hightower

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argent

Hightower made a strategic investment in Argent Wealth Management, a $1.7 billion advisory practice based in Waltham, Mass. 

The transaction, whose amount was not disclosed, is expected to close in the 4th quarter of 2020, subject to regulatory approvals and other customary closing conditions.

Argent will leverage Hightower’s middle and back-office support and community expertise to focus on growing their business.

Founded in 1992 by David Duchesneau, CEO, Argent provides advice on financial planning, investment management, retirement planning, estate planning and charitable giving, with a focus on holistic tax planning solutions for clients. It has 22 employees, including 11 advisors, who serve high net worth individuals and families in the greater Boston area.

Led by Bob Oros, CEO, Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. The firm offers advisory businesses a customizable suite of services designed to help accelerate both organic and inorganic growth. The firm provides an integrated advisor platform ‚Äď including technology, compliance, accounting, payroll, human resources, investment management services and marketing support.

As of¬†June 30, 2020, Hightower’s assets under administration (AUA) were approximately¬†$75.7 billion¬†and its assets under management (AUM) were¬†$56.7 billion. The company grew 9.6% organically in 2019, up from 8% in 2018. Based in¬†Chicago¬†with advisors across the U.S., the firm operates as a registered investment advisor (RIA).

Argent is Hightower’s 7th transaction in 2020. Including Argent, the firm now has 112 advisory businesses in 33 states.

FinSMEs

01/09/2020

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