Hightower Facilitates Fifth Sub-Acquisition for Fairport Wealth, Adding New Jersey-based Wealth CMT

Fairport Wealth continues expanding by adding $300 million registered investment advisory firm in Cherry Hill, NJ

CHICAGO, Aug. 1, 2023 /PRNewswire/ -- Hightower today announced that it has facilitated a merger for Fairport Wealth, a Cleveland, Ohio-based Hightower advisory business. Wealth CMT, a registered investment advisory firm with $300 million in assets under management (AUM), will join Fairport's growing business of wealth management professionals across the U.S., now totaling $4.5 billion in AUM. This deal marks Fairport's fifth sub-acquisition since joining Hightower. 

Wealth CMT is an independent principal-run business in Cherry Hill, NJ that offers comprehensive solutions for its clients. Founded in 2009 and led by founders Andrew Barnett and Eric Feder, Wealth CMT's five employees work with more than 180 families and foundations with a focus on serving these clients holistically. 

"In seeking a like-minded strategic partner, we determined that Fairport Wealth offers both additive wealth management solutions for our clients and professional development opportunities for our staff," says Wealth CMT Principal, Andrew Barnett. "Their commitment to holistic wealth aligns with our vision and philosophy, and gaining access to Hightower's resources will enable us to take our practice to the next level," added Wealth CMT Principal, Eric Feder.

"As we continue to support Fairport Wealth with its own growth ambitions, we became excited for the opportunity with Wealth CMT," notes Hightower Chairman and CEO Bob Oros. "The firm's reputation for creating strategic wealth planning solutions backed by timely and insightful guidance is consistent with Hightower's values and growth focus. This further proves our ability to drive scale from within by helping our affiliated businesses with follow-on acquisitions adding to their capabilities and talent."

Matt Logar, CEO of Fairport Wealth adds, "Wealth CMT's focus on putting clients' needs first complements our dedication to inspiring families and is a great opportunity to grow our business with like-minded partners. They are a natural fit and I'm thrilled to welcome them to the Fairport Wealth team."

Advice Dynamics Partners served as advisor to Wealth CMT.

In addition to inorganic support, Hightower offers its 135 advisory businesses in 35 states and the District of Columbia a range of services designed to catalyze and accelerate organic growth, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Advisors benefit from streamlined access to the Hightower National Trust Company, estate & financial planning, and business management services such as personal CFO, bookkeeping, bill pay and tax preparation for their clients.

As of June 30, 2023, Hightower's assets under management (AUM) were approximately $131 billion.

About Hightower

Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower's capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of "well-th. rebalanced." Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower's collaborative business model at www.hightoweradvisors.com.

Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.

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SOURCE Hightower