Hightower Facilitates Strategic Merger Between Hightower Bellevue and $350 Million Sovereign Wealth Advisors in Washington

Sovereign Wealth Advisors specializes in financial and retirement income planning, investment management, tax management and estate planning

CHICAGO, Dec. 12, 2022 /PRNewswire/ -- Hightower today announced that it has facilitated a strategic merger between Hightower Bellevue and Sovereign Wealth Advisors, an approximately $350 million independent fee-based SEC-registered investment advisor firm in Bellevue, Washington. The merger brings Hightower Bellevue's assets to nearly $1 billion.

Sovereign Wealth and its advisors have been providing wealth management and financial guidance to clients across the Pacific Northwest for more than 30 years, specializing in financial and retirement income planning, investment and tax management and estate planning. Sovereign Wealth's majority-female leadership team is poised for continued exponential growth.

The Sovereign Wealth leadership team includes Scott Sheffield, Partner, Senior Wealth Advisor; Tara Johnson, Managing Partner, Senior Wealth Advisor and Sharon Lailey, Managing Partner, Senior Wealth Advisor.

Lars Knudsen, managing director and partner at Hightower Bellevue, explained how the firms are aligned culturally and that he is eager to forge deep ties with this fast-growing and forward-looking firm.

"We are fortunate to already know and appreciate the Sovereign Wealth team and the value they bring to their clients," Knudsen said. "We connected with them years ago, when our firms worked from the same building and have always considered the mutual benefits of a partnership. Tara, Sharon and Scott are leading an excellent firm, with consistent double-digit growth, and we are looking forward to welcoming them and adding considerable bench-strength to our operations."

With more than two decades of experience in wealth management, Johnson is actively involved in serving wealth management clients and managing institutional company retirement plans. She has also served as a commissioner for the CFP® Board's Disciplinary and Ethics Commission in Washington, D.C.

"Through this partnership, we will be able to provide our clients with all the resources they need, now and for years to come," Johnson said. "We are excited to strengthen our culture by aligning with a likeminded firm. Additionally, we are eager to make use of the many resources Hightower provides through an array of value-added services."

The Hightower M&A team has professionals dedicated to helping Hightower advisory businesses execute mergers and sub-acquisitions—providing sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for transactions.

"We are passionate about working with our advisory businesses to help them grow, both organically and inorganically," said Hightower Chairman and CEO Bob Oros. "From the start, it was clear that Sovereign Wealth and Hightower Bellevue align on culture, values and growth-orientation. We are enthusiastically behind the growth of the Hightower presence in the Pacific Northwest."

In addition to inorganic support, Hightower offers its 131 advisory businesses in 34 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, 2022, Hightower's assets under management (AUM) were $108.4 billion, and assets under administration were approximately $132.6 billion.

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 www.hightoweradvisors.com.

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

Media Contact:
Siobhan Nolan
JConnelly
(862) 217-9585
[email protected]

SOURCE Hightower

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