Hightower announced it has made a strategic investment in Boston Hill Advisors (“BHA”), a $1 billion, fee-based registered investment advisor (RIA) headquartered in North Andover, Massachusetts, with three offices across the state.
Founded in 2006 by Managing Partners, Joseph Trainor, CFA and Michael Edwards, CFA, the firm provides holistic wealth management and comprehensive financial planning services to high-net-worth individuals and institutional clients, primarily in the New England region. Today Boston Hill Advisors has 17 employees, including eight advisors serving approximately 1,000 client relationships.
“Michael and I are entrepreneurs at heart and we are extraordinarily proud of our team and of the business we have built,” said Mr. Trainor. “This partnership with Hightower—who are client-focused, growth oriented, and looking for true partners—allows us to continue to deliver a high-end experience by putting our clients front and center, all while providing behind-the-scenes support to help grow and scale our business to the next level.”
Boston Hill Advisors selected Hightower to leverage the organization’s growth consulting services, middle and back-office operations, and infrastructure to enhance its service offering for new and existing clients.
“Boston Hill Advisors is a firm that has built a reputation in the Boston region—both a big city and a small town—as a trusted advisor to individuals, families, and institutions,” said Hightower Chairman and CEO Bob Oros. “We are excited to provide our value-added services to support their long-lasting relationships with multiple generations of clients.”
Hightower offers its 132 advisory businesses in 34 states and the District of Columbia a range of services designed to catalyze and accelerate organic growth, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Inorganic growth services include sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions. Advisory groups that partner with Hightower also gain access to economies of scale, deep industry relationships and a nationwide advisor community.
As of March 31, 2023, Hightower’s assets under administration were approximately $148.2 billion, and assets under management (AUM) were $119.9 billion, an increase from $113.7 billion as of December 31, 2022.
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