What You Need to Know
- Hightower Advisors has acquired Farr, Miller & Washington in its latest transaction.
- Farr, Miller & Washington CEO Michael Farr will become the chief market strategist at Hightower.
- Hightower, a Chicago-based RIA aggregator, completed nine transactions last year alone.
Hightower Advisors has acquired Farr, Miller & Washington, an RIA with $2 billion in assets under management, as well as offices in Washington, D.C., Florida and Pennsylvania.
Farr, Miller & Washington President and CEO Michael Farr is set to become Hightower’s chief market strategist as part of the transaction. The firm has 20 employees, including 13 investment professionals.
“Michael Farr and his team at Farr, Miller & Washington are highly respected both inside the beltway and throughout the U.S. … ,” said Hightower Chairman and CEO Bob Oros in a statement. “[W]e couldn’t be more thrilled that they have chosen to join Hightower for the next chapter of their growth and are honored to be welcoming them to the firm.”
Hightower, which works with 115 advisory businesses, has assets under administration of about $125 billion and assets under management of $101 billion as of June 30.