Hightower says it bought TC Wealth Partners, an Illinois-based firm that oversees close to $1.7 billion in assets and has 30 employees.
The deal includes Trust Company of Illinois, which does trust and estate planning, administration, guardianship, executor and co-executor services and retirement plan services.
Founded in 1993, “the group has a strong footprint in the greater Midwest, with significant potential to scale nationally,” Hightower CEO Bob Oros said in a statement. “We are excited to welcome [CEO] Bill Giffin and the team and see a strategic opportunity to grow their business together.”
Hightower works with 122 advisory businesses in 34 states and the District of Columbia. It had $132 billion of assets under administration and $104 billion of assets under management as of Sept. 30.