Hightower Facilitates Sub-Acquisition for Schultz Collins with Oakland Financial Consulting Firm DHR

DHR Investment Counsel serves a multi-generational clientele and brings Schultz Collins' AUM to more than $1.3 billion

CHICAGO, Feb. 28, 2023 /PRNewswire/ -- Hightower today announced that it has facilitated its first sub-acquisition for Schultz Collins Investment Counsel, a San Francisco Bay Area Hightower advisory business based in Orinda, California. DHR Investment Counsel in Oakland, California, a $385 million firm led by husband-and-wife team Davis Riemer and Louise Rothman-Riemer, will join Schultz Collins, bringing its assets under supervision to more than $1.3 billion.

Founded in 1987, DHR Investment Counsel pioneered the implementation of the fiduciary standard of practice among investment advisory firms. It is one of the first fee-only firms. Davis and Louise have focused throughout their careers on helping clients understand the connection between their investment decisions and their fundamental motivations for amassing wealth: security, independence, strength, freedom – and love.

In identifying the right partner, Riemer said it was crucial to find the right cultural fit.

"We wanted a firm we could trust," he said. "With Hightower and Schultz Collins, we found partners deeply committed to an ethos that aligns perfectly with our own of truly putting clients first. We know they will help us serve our clients with the same care we've always provided."

Founded in 1995, Schultz Collins provides investment counsel to individual investors, retirement plan sponsors and institutions (trusts, foundations, endowments and corporate accounts). Like DHR, Schultz Collins has focused on the fiduciary standard of practice from its inception. Schultz Collins joined Hightower in January 2020.

"Davis and Louise bring a wealth of knowledge and practical experience that will help us as we continue to expand – and improve – our firm," said Kristor Lawson, Founding Principal at Schultz Collins. "We look forward to working with their entire team, to support all our clients in meeting their financial goals, now and for generations to come." 

"We are pleased to support Schultz Collins in facilitating this growth-minded acquisition," said Hightower Chairman and CEO Bob Oros. "Together, Schultz Collins and DHR Investment Counsel serve a highly attractive, complementary clientele. This acquisition will go a long way in supporting the firm's ambitious growth plans and helping empower their next generations of advisors."

In addition to inorganic support, Hightower offers its 132 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 December 31, 2022, Hightower's assets under administration were approximately $144.3 billion, and assets under management (AUM) were $113.7 billion, an increase from $106.1 billion as of September 30, 2022.

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 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
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SOURCE Hightower