Hightower has invested strategically in Boston Hill Advisors, a $1bn fee-based registered investment adviser (RIA) with three locations spread out across Massachusetts and a headquarters in North Andover.
The company was established in 2006 by managing partners Joseph Trainor, CFA, and Michael Edwards, CFA, and focuses largely on serving high-net-worth individuals and institutional clients in the New England region.
At the moment, Boston Hill Advisors employs 17 people, including eight advisers who maintain ties with about 1,000 clients.
“Michael and I are entrepreneurs at heart, and we are extraordinarily proud of our team and of the business we have built,” said Trainor.
“This partnership with Hightower—who are client-focused, growth oriented, and looking for true partners—allows us to continue to deliver a high-end experience by putting our clients front and center, all while providing behind-the-scenes support to help grow and scale our business to the next level.”
Boston Hill Advisors chose Hightower so that it could take use of the company’s infrastructure, middle and back-office operations, and growth consulting services to improve the services it offers to both potential and current clients.
“Boston Hill Advisors is a firm that has built a reputation in the Boston region—both a big city and a small town—as a trusted adviser to individuals, families, and institutions,” added Hightower chairman and CEO Bob Oros.
“We are excited to provide our value-added services to support their long-lasting relationships with multiple generations of clients.”
Most recently, Hightower purchased Vigilant Wealth Management, a full-service wealth management firm with offices in Portland, Maine, and Portsmouth, New Hampshire.
The three co-founding principals of Vigilant, Scott D. Sorensen, CFA, ChFC, and Daniel M. Mulkern, MBA, are in charge of the company, which was founded in 2002 and today employs 31 people, including 11 financial advisers.