Altium Wealth Administration, a Northeast-based Hightower-associated agency, will high $6 billion in managed property with the addition of advisors Kimberly Clouse and Kristen Caseley.
Clouse is an “established household wealth advisor” primarily based in Boston and is becoming a member of Altium, which has workplaces in New York and Boston. Clouse and Caseley have been most not too long ago with AdvicePeriod, in line with their LinkedIn pages.
Collectively, the advisors managed about $300 million in consumer property, with a give attention to high-net-worth and ultra-high-net-worth households and households. Based on Altium Founding Associate Jim Dowling, Clouse and Caseley would assist the agency increase its footprint within the Northeast. Clouse stated the transfer would give her workforce entry to “extra strong sources” to serve purchasers.
“I’ve by no means been extra impressed by a single agency’s mixture of expertise, capabilities and expertise,” Clouse stated. “I’m excited to be a part of such a forward-looking group, which additionally brings the advantage of entry to Hightower’s sources.”
Altium was based in 2010 and works with enterprise leaders and entrepreneurs. It makes a speciality of tax administration and monetary planning methods and customizable direct indexing choices.
When Altium joined Hightower in 2022, it had 39 staff (together with 18 advisors) and totaled $2.7 billion in managed property, in comparison with right now’s $6 billion (Hightower has about $156 billion in AUM, in line with the agency). The agency had grown organically by double digits since its founding, however with Hightower, the agency meant to develop inorganically within the area.
“Our inherent motivation to be disruptors within the business paired with the purchasers that we’re lucky to serve has pushed our success, but we acknowledge that we’d profit from nice operational help and scale,” Dowling stated when describing the Hightower deal in 2022.
Final month, Hightower took a stake in Charles D. Hyman & Firm, a Fla.-based RIA with $2.3 billion in consumer property; it was Hightower’s second acquisition this 12 months. The RIA’s five-person workforce targeted on people, households, trusts, charitable pursuits and foundations.
Based on SEC information, the RIA platform named Gurinder Ahluwalia president (a newly created place) in April. Ahluwalia was the lead director on the agency’s board of administrators and is an govt associate within the monetary tech and companies vertical at Thomas H. Lee Companions, Hightower’s personal fairness proprietor.
