HighTower, a US-based advisor-owned financial services company, has added Klein Wealth Management to its partnership.

Klein Wealth Management specializes in developing tax-efficient strategies for high-net-worth individuals and families, corporations and private foundations to realize their philanthropic goals.

Klein Wealth Management is the 39th team to enter the HighTower partnership since the firm’s inception in 2008. The team will be managed by Peter Klein, who joins HighTower as a partner and managing director.

Mike Papedis, executive vice president of HighTower, said: "When Klein and his team made the decision to join HighTower, we mobilized our deep resources during what has typically been a quiet time for advisor movement."

Commenting on the expansion, Klein said: "We are ending this year and looking ahead to 2014 with the support of a partnership that allows us to build a practice we’re passionate about, while sharing our insights and experience with some of the nation’s leading advisors."

Klein Wealth Management oversees over US$210 million in client assets. In addition to Klein, the practice consists of director of client service, Jane Voorhees.