Transactions

Altium Welath Management Has Entered Into A Strategic Partnership With Hightower Advisors

New York, NY, April 1, 2022 – Park Sutton Advisors is pleased to have represented Altium Welath Management (“Altium”) on its strategic partnership with Hightower Advisors (“Hightower”), a leading registered investment adviser (“RIA”) with over $118 billion in assets under management and advisement (“AUM/A”) and headquartered in Chicago, Illinois. Headquartered in Purchase, New York, Altium focuses on delivering wealth management and advisory services to high and ultra-high-net-worth clients and their families. The Firm, with over $2.7 billion in AUM/A, specializes in risk-based, low-cost and tax-efficient portfolios delivered via its comprehensive consulting and proprietary direct indexing solution to help clients protect and grow wealth. Terms of the transaction were not disclosed.

“Over the past 12 years we have developed a business model solving for what we would want as clients ourselves. Our inherent motivation to be disruptors in the industry paired with the clients that we are fortunate to serve has driven our success, yet we recognize that we would benefit from greater operational support and scale. Hightower provides meaningful value-added services to help us expand and enhance our wealth management offerings,” said Jim Dowling, one of Altium’s founders.

“Altium is a fast-growing business that is passionate about providing clients with tax-aware planning and portfolios that align with their individual goals, delivered via personalized consulting and their direct-indexing solutions. We are excited to leverage Altium’s specialized portfolio customization capabilities and make them available to Hightower advisors and clients while, at the same time, supporting the Altium team in attracting new client relationships and scaling,” said Bob Oros, Chairman and CEO of Hightower.

Steven Levitt, Park Sutton Advisors’ Managing Director and Founder, who led the transaction, said, “Altium is a fast-growing firm with a very bright future. I first met them when they managed about $600 million. I am so pleased to have witnessed their success and been able to assist in long-term succession planning. I wish the partners the very best in their new strategic relationship with Hightower.”