Hightower Holding has announced plans to acquire a majority interest in NEPC, an investment consultant and outsourced chief investment officer (OCIO). Financial terms were not disclosed.
The companies said combining under a common parent company will allow NEPC and Hightower Advisors, an RIA, to expand their commitments to clients to deliver institutional-quality investment solutions and research-driven advice.
The combination of Hightower, its affiliates and NEPC represents more than $1.8 trillion in assets under advisement and $258 billion in assets under management.
“This is a transformational combination that highlights the future of financial services and wealth management,” said Bob Oros, chairman and CEO at Hightower. “Our relationship with NEPC stemmed from the exciting and distinctive opportunity that both businesses can offer the private wealth market when combined. We create a stronger whole by maintaining our company identities and deploying ou