Fairport Wealth continues its regional expansion with the addition of a $350 million team specializing in tax-aware wealth management services and retirement-plan consulting

CHICAGO, Aug. 18, 2022 /PRNewswire/ --  Hightower today announced that it has facilitated a merger for Fairport Wealth, a Hightower advisory business in Cleveland, Ohio. A team led by Brian Geary, an advisor in Buffalo, N.Y. with $350 million in assets under management (AUM), will join Fairport Wealth's growing business of wealth management professionals, bringing Fairport's total AUM to $3.3 billion.

Mr. Geary and his team specialize in tax-aware wealth management for high-net-worth clients, and retirement plan consulting for corporations. The business will operate in Buffalo under the Fairport Wealth brand name. Prior to joining Fairport, the team operated as part of Linwood Investment Advisors in Buffalo.

With the addition of Mr. Geary's team, Fairport Wealth will have 4 offices across the Midwest and surrounding regions with 55 employees, including 28 advisors, serving nearly 1700 families. Fairport Wealth serves executives, business owners and other affluent individuals to help them reach their life goals, with specific offerings for women and those in transition. Fairport President Matt Logar said, "Brian's care for his clients and their families was apparent from our very first conversation. We are excited to gain his skillset on our team and help bolster his successful practice to serve and inspire clients for generations to come."

"For the past three years, our practice has grown organically at a rate of 15%," Mr. Geary said. "It was becoming clear that, to grow it further, we needed to join a well-resourced entity that could provide us with scale, operational support and a suite of services tailored to our affluent clients. At Fairport, we'll gain access to a deep bench of investment and tax knowledge, with a direct line to Hightower's National Trust Company and estate planning services. At the same time, our business-owner clients will benefit from Hightower's support for client companies undergoing a sale, merger or capital-raise." 

"Brian and the team are an excellent fit for Fairport Wealth, with its dedicated culture of supporting advisors serving sophisticated clients," said Hightower Chairman and CEO Bob Oros. "As part of Fairport and the broader Hightower family, Brian and his team will be able to put their focus squarely on serving their clients, while gaining access to institutional-class operational support and value-added services to amplify growth. It was a pleasure overseeing this transaction from start to finish."

The Hightower M&A team has professionals dedicated to helping Hightower advisory businesses execute sub-acquisitions—providing sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for transactions. This is Fairport Wealth's third sub-acquisition in the last three years, having added to its expansion regionally. In 2021, Fairport added FMA Advisory of Harrisburg, Pa., and in 2019, Fairport added Leonetti & Associates, an existing Hightower advisory business located in Buffalo Grove, Ill.

In addition to inorganic support, Hightower offers its 130 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 at www.hightoweradvisors.com.

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

Media Contact:
Patty Buchanan
JConnelly
(973) 567-9415
pbuchanan@jconnelly.com

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SOURCE Hightower