The US-headquartered group has enabled another of the businesses in its network to make an acquisition, part of the service offerings it has in its toolkit.

Chicago-based Hightower has carried out its first “sub-acquisition” for Schultz Collins Investment Counsel, a San Francisco Bay Area advisory business based in Orinda, California. Schultz joined Hightower in January 2020.

DHR Investment Counsel in Oakland, California, a $385 million firm led by husband-and-wife team Davis Riemer and Louise Rothman-Riemer, will join Schultz Collins, bringing its assets under supervision to more than $1.3 billion. DHR was founded in 1987.

Schultz Collins, which was founded in 1995, provides investment counsel to individual investors, retirement plan sponsors and institutions (trusts, foundations, endowments and corporate accounts). 

Besides support for mergers and acquisitions-based growth to firms, Hightower offers its 132 advisory businesses in 34 states and the District of Columbia a range of services. Offerings include investment consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. At the end of 2022, it has about $144.3 billion in assets under administration, and $1134.7 billion in assets under management.

In early February, Hightower said it facilitated a merger between TC Wealth Partners and EFG Advisors, bringing TC Wealth Partners' assets to more than $2 billion.