high tower Announced the continuation of a series of recent transactions with a strategic investment in a New Jersey-based registered investment advisor. Myer Capital Group.
The serial acquirer of the RIA firm announced yesterday that it has invested in Mayer. Meyer manages $1.6 billion in assets and has offices in Marlton, New Jersey and Naples, Florida.
Founded in 1963, Mayer has 17 employees, including 10 advisors, and serves more than 800 clients, including business owners, nonprofits and high net worth individuals, Hightower said.
Appointed as current president in 1983 Thomas C. Meyer has taken the helm of the company and its asset pool has grown from $2 million to $1.6 billion, the Chicago-based asset firm added.
“Hightower is a perfect fit for us,” Meyer said in a statement. “Access to the company’s value-added services, operational resources, and large community of like-minded companies will be a catalyst for our accelerated growth.
“And most importantly, this gives us even more time to focus on our customers.”
Bob OrosHightower’s Chairman and CEO said the company’s “high value-added service offerings and back- and middle-office platform support will enable us to enhance our client’s value proposition while building stronger client relationships.” We can give it time to build,” he added.
The latest deal came a week after Hightower acquired the stake. Boston Hill Advisorsa billion-dollar RIA company located outside of Boston in North Andover, Massachusetts.
The wealthy group has added billions more in RIAs in recent months. vigilant asset managementoversees $2.3 billion and has offices in Maine and New Hampshire. 10 Capital Wealth Advisorsbased in Washington, oversees $1 billion.
At the end of March, Hightower had $148.2 billion in assets under management.