The latest deals and transactions in and around North American wealth management.
Led by Thomas P Olexa, EFG is an independent, boutique wealth management, estate and financial planning firm that serves business owners personally and throughout the full lifecycle of their businesses, the firm said in a statement.
TC Wealth Partners also provides diversified wealth, trust and advisory services to more than 800 clients throughout the country. This merger adds further strength to its capabilities, particularly in the life insurance and estate planning space where EFG Advisors has a strong practice, the firm continued.
“We are excited to offer our clients expanded access to even better capabilities through TC Wealth Partners and Hightower’s robust value-added services,” Olexa said.
“By joining forces, we provide our clients with holistic offerings across every aspect of the financial-planning landscape. We look forward to becoming part of the Hightower community and ensuring our clients benefit from the addition of these top-notch services and capabilities,” he added.
Hightower acquired TC Wealth Partners in January 2022. At the time, TC Wealth Partners wanted to grow its footprint across the Greater Midwest and scale nationally. This is the first sub-acquisition for TC Wealth Partners, which, like EFG Advisors, is based in suburban Chicago, the firm said.
Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as consulting and cash management services to corporations. Based in Chicago with advisors across the US, the firm’s assets under administration are approximately $144.3 billion, with assets under management of $113.7 billion.