Hightower Advisors has invested in Lindbrook Capital, a Los Angeles, California-based wealth management firm.
The “strategic investment” in the Los Angeles RIA is Hightower’s first this year.
Lindbrook Capital, with roughly $3.8bn in assets under management, operates offices in Los Angeles, Calabasas, and New York City.
The firm offers tailored investment management and financial planning services to high-net-worth individuals, families, foundations, and endowments.
The ten-person team is overseen by managing partners Benjamin Posen and Tyler Dritz, alongside partner Lee Samson.
Posen said: “We thought long and hard about our options and determined Hightower is the right partner. We aren’t interested in being a serial acquirer and we had to preserve the culture and investment autonomy that our clients expect from Lindbrook.”
Hightower chairman and CEO Bob Oros said: “We have known the principals at Lindbrook Capital for more than a decade and are excited for them to join Hightower.
“Under the seasoned management of Ben and Tyler, the team has built an impressive business with an attractive client base that includes some of today’s top business and entertainment executives.”
Hightower, a wealth management firm headquartered in Chicago, serves a diverse clientele, including individuals, foundations, family offices, and corporations.
Its advisory network encompasses over 140 advisory businesses across 35 states and the District of Columbia.
Hightower’s comprehensive suite of services offered aims to foster organic growth among its advisors.
These services include business development consulting, leadership training, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll, and human resources.
As of 31 December 2024, Hightower and its affiliates managed assets totalling around $168bn.
In December, Hightower invested in Denver, Colorado-based Dechtman Wealth Management.
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