The US wealth management group has launched a Chicago-based firm previously affiliated with another group, its second such move in 2018.

US wealth management group HighTower has launched Chicago-based Hummer Mower Associates, a business previously joined with another group and the second such move this year.

The group manages $450 million in client assets, and was formerly affiliated with Wintrust Wealth Management. Managing partner Grove N Mower leads the practice, which also includes partners Philip W Hummer, David D Cox, Rebecca J Parr, Ryan J Ross, and associate Chapin N Mower.

Hummer Mower Associates traces its roots to 1931, when Hummer's father founded Wayne Hummer & Co in Chicago.

In 2017, HighTower took on board 20 new advisor teams, adding $6.4 billion in assets and multiple new teams from WealthTrust to its community of elite financial advisors. In October 2017, HighTower also announced a new partnership with private equity firm Thomas H Lee Partners, which included a commitment to invest $100 million of new equity capital.

Earlier this year, HighTower announced the launch of a new advisor team in Santa Fe, New Mexico with $115 million in client assets led by Managing Director Gayle Johnson.