Fairport Wealth, a Hightower advising firm based in Cleveland, Ohio, announced that President Matt Logar has been named CEO.
Logar, a seasoned executive with more than 20 years of wealth management expertise, follows Ken Coleman, who has retired after nearly 25 years of driving Fairport to its current position as an industry powerhouse.
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Logar joined Fairport in 2021 as director of client strategy and was promoted to president in 2022. Logar has been essential in Fairport’s corporate expansion, including recent acquisitions assisted by Hightower.
Fairport has grown from one to five offices in Cleveland, OH, Buffalo, NY, Chicago, IL, Harrisburg, PA, and Princeton, NJ since becoming a Hightower advisory business in 2017.
“Ken has built an incredible organization and the talent at Fairport is absolutely some of the best in the business,” stated Fairport Wealth CEO Matt Logar.
“We are well positioned to continue the strong pace of organic and inorganic growth that we have experienced since becoming a Hightower advisory business, and we look forward to building this momentum while continuing to guide our clients toward reaching their financial and life goals. The opportunity for growth in our future is unlimited.”
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By GlobalDataHightower worked with Fairport through all stages of the succession plan, which had been in the works for almost two years. While the industry frequently refers to a succession crisis, Hightower provides resources and training to guarantee that its advising companies are well equipped for the future in a fast-changing space.
“We’re thrilled to have been able to support Fairport in their succession plan,” said Hightower CEO and chairman Bob Oros.
“When we seek out firms to join our community, strong leadership, and founders or executives committed to continuing to operate the firm after they become part of Hightower, is critical. Ken has been dedicated to the business since our investment in Fairport five years ago, helping to ensure its success and longevity with the right hire and decision in bringing in Matt. A thoughtful leader in wealth management, Matt is a driving force in Fairport’s significant growth trajectory and we’re looking forward to continuing our partnership with him on this next chapter.”
Prior to joining Fairport, Logar was a senior vice president in Key Bank’s wealth management division, where he oversaw the financial planning and advice teams. Logar previously started and ran a financial planning and investment advisory firm. He holds the titles of Certified Financial PlannerTM and Certified Public Accountant. He is also a member of the American Institute of Certified Public Accountants (AICPA) and the Financial Planning Association of Northeast Ohio (FPA).
Fairport joined Hightower in 2017 as a result of Hightower’s acquisition of WealthTrust, and it has grown from a reputable independent investment advisor (RIA) to a significant market participant with a growing presence in the Midwest and Northeast through both organic and inorganic expansion.
Hightower’s assets under administration (AUA) were around $144.3b as of December 31, 2022, while assets under management (AUM) were $113.7b.
