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October 6, 2021

Hightower bets on Landsberg Bennett Private Wealth Management

By Verdict Staff

Hightower has made a strategic investment in Florida-based $1bn RIA Landsberg Bennett Private Wealth Management.

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Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The size of the investment was not disclosed by the companies. The transaction is expected to close in the fourth quarter of the year.

Established in 2012, Landsberg Bennett provides wealth management services to individuals and families.

Led by principals Michael Landsberg, Lew Bennett and Anthony Dubbaneh, the firm has 14 employees including five advisers who focus on serving new retirees, attorneys, business owners, physicians, and executives.

Landsberg Bennett caters to ultra-high net worth (UHNW) and high net worth (HNW) clients, while Hibiscus Investments, its sister brand, serves mass affluent clients with less than $1m of investible assets.

The partnership will see Landsberg Bennett leveraging Hightower’s resources, operational, value-added and business acceleration services to further expand its business.

Hightower chairman and CEO Bob Oros said: “We are delighted to welcome Landsberg Bennett to the Hightower partnership community, and look forward to providing them with the scale, support and independence they need to turbocharge future business growth.”

Commenting on the deal, Landsberg Bennett principal Michael Landsberg said that partnering with Hightower will enable the firm to expand both organically and inorganically while retaining autonomy, brand and strategic control.

In August this year, Hightower acquired an undisclosed stake in Denver-based $800m wealth management firm Investment Security Group through a strategic investment.

In July, it purchased Farr, Miller & Washington, Washington, DC-based wealth manager with $2bn in assets.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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