Hightower announced that it has collaborated with and invested in Presidio Wealth Partners.
Presidio Wealth Partners is a recently established wealth management company with headquarters in Houston, Texas, with an AuM of roughly $1.6bn.
Cy Cattan, Scott Bishop, Robert Harris, and Sarahbeth Pipkin, founding partners, are in charge of a capable team that specialises in offering services for ultra-high-net-worth (UHNW) family and business owner clients, such as multigenerational financial planning, business succession and exit planning, access to private deals, and alternative investments.
To take advantage of the company’s market-leading systems, planning tools, and strategies, Presidio Wealth Partners chose Hightower as its strategic investor.
With help from Hightower’s skilled Investment Solutions Team, Presidio was drawn to the chance to increase the range of private market assets available to clients.
“The Presidio Wealth Partners team has a similar approach to help clients achieve all of their goals, across their lives—and we are excited to be with them on this step of their journey,’’ said Hightower chairman and CEO Bob Oros.
Among the services Hightower provides its 130+ advisory businesses in 34 states and the District of Columbia are business development consulting, leadership and team development, talent acquisition, marketing assistance, technology, investment management resources, compliance, accounting, payroll, and human resources.
These services are all intended to catalyse and accelerate organic growth. Source finding, valuation, deal structuring, due diligence, legal and regulatory, pre-, and post-close integration, and capital resources for M&A deals are all examples of inorganic growth services.
Partnering with Hightower also gives advisory organisations access to scale economies, significant industry connections, and a community of advisors across the country.
Hightower’s assets under management (AUM) increased from $113.7bn as of December 31, 2022, to roughly $148.2bn as of March 31, 2023.