CHICAGO, October 7, 2021 / PRNewswire / – High tower announced today that it has facilitated a merger for Fairport Wealth, a Hightower consulting firm in Cleveland, Ohio. FMA Advisory, Inc., a wealth management company in Harrisburg, Pennsylvania., with $ 500 million in Assets Under Management, will join Fairport Wealth’s growing business of wealth management professionals and bring the company’s total assets under management to $ 3.9 billion.

Founded in 1981, FMA Advisory is headed by its founder and chairman Peter J. LaBella and managing partner John J. Klobusicky. They serve business owners, executives, retirees, professional athletes, aspiring professionals, corporate pension plans, nonprofits, and charities.

Hightower’s Fairport Wealth, led by Managing Partners Heather Ettinger and Kenneth coleman, serves executives, business owners and other high net worth individuals to help them achieve their life goals, with specific offerings for women and people in transition. Fairport Wealth has offices at Cleveland and in Buffalo Grove, Illinois. With the addition of FMA Advisory, Fairport Wealth will have 48 employees, including 25 advisers, serving nearly 1,500 families.

“Fairport Wealth’s mission to help families live with purpose, achieve their dreams and create a legacy for future generations is directly aligned with the values ​​by which we operate our practice,” said Mr. LaBella of FMA Advisory . “As we looked to our next stage of growth, we recognized that teaming up with Fairport Wealth and Hightower would provide us with the human and operational resources we need to provide distinctive and attentive service now and for decades to come. “

“FMA Advisory is a well-respected wealth management company with a strong culture of financial well-being, which is very much in line with the values ​​of Fairport and Hightower,” said Coleman of Fairport. “We are delighted to support FMA’s growth ambitions and their focus on expanding our collective footprint in the Midwest and the United States.”

In addition to facilitating investments in stand-alone wealth management firms, Hightower’s M&A team has professionals dedicated to helping Hightower’s consulting firms complete sub-acquisitions. Support services include sourcing, valuation, transaction structuring, due diligence, legal and regulatory integration, before and after closing, and capital resources for sub-acquisition transactions.

“Inorganic growth is a great way for Hightower’s consulting firms to grow their offerings, add strength and talent to their leadership teams. We are delighted to have helped Fairport Wealth strategically think about adding a team that is closely aligned with theirs, in purpose and in culture, ”said Bob oros, Chairman and CEO of Hightower. “It was a pleasure to see this transaction through from start to finish.”

The FMA Advisory transaction marks the second merger of Fairport Wealth. In 2019, Fairport Wealth expanded its geographic presence with the addition of Leonetti & Associates, an existing consulting firm at Hightower located in Buffalo Grove, Illinois.

In addition to inorganic growth services, Hightower offers its 118 consulting businesses in 34 states and the District of Colombia a range of capabilities designed to catalyze and accelerate organic and inorganic growth, including business development consulting, leadership and team development, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Advisory groups that partner with Hightower also have access to economies of scale, close industry relationships, and a nationwide collaborative advisory community.

From June 30, 2021, Hightower’s assets under administration (AUA) were approximately $ 125.2 billion and its assets under management (AUM) were 101 billion dollars.

About Hightower

Hightower is a wealth management company providing investment, financial planning and retirement services to individuals, foundations and family offices, as well as 401 (k) advisory and cash management services to businesses. Hightower’s capital solutions, operational support services, size and scale enable its vibrant community of independent wealth advisors to grow their businesses and help their clients achieve their vision of “rebalanced wellness” . Situated at Chicago with advisors across the United States, the company operates as a registered investment advisor (RIA). Learn more about Hightower’s collaborative business model at www.hightoweradvisors.com.

Securities offered by FINRA / SIPC member of Hightower Securities, LLC. Hightower Advisors, LLC is an SEC registered investment adviser.

Media contact:
Patty buchanan
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SOURCE Hightower