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December 1, 2021

Hightower bets on wealth manager Clear Perspective Advisors

By Verdict Staff

Hightower has made a strategic investment in $700m wealth management firm Clear Perspective Advisors , which has offices in Aurora and St. Charles, Illinois.

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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 revealed. The transaction is expected to conclude in the fourth quarter of the year.

Established by Michael Morcos, Jonathan Hylton, and Stewart Beach by in 2011, Clear Perspective specialise in financial planning and investment management services.

The firm has a team of ten employees, including seven advisers who caters to the needs of corporate executives, business owners and entrepreneurs among other individual and institutional clients.

As part of the deal, Clear Perspective will benefit from Hightower’s growth consulting services, middle and back-office operations.

The firm will also utilise Hightower’s support and infrastructure to scale up its service offering to new and existing clients.

Commenting on the deal, Morcos said: “We chose Hightower because it not only brings institutional-quality infrastructure and services such as technology, compliance, finance, marketing and HR support, but also offers access to some of the most experienced wealth management minds in the business.”

Hightower has 120 advisory businesses across 34 US states and the district of Columbia.

As of 30 September 2021, the firm has approximately $132.2bn in assets under administration (AUA) and $104.1bn in assets under management (AUM).

Hightower chairman and CEO Bob Oros said: “Our organisation is excited to collaborate with Michael, Jonathan, Stewart and the team on strategies to add value to their client relationships and accelerate new business. We are honored to be supporting them in the next chapter of their growth.”

In October this year, Hightower made a strategic investment in Florida-based $1bn RIA Landsberg Bennett Private Wealth Management.

Last month, the firm said it will set up three new office locations in New York City to provide space for its increasing number of corporate and advisory-business professionals.

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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