Green Square Wealth Management, a newly formed advisory firm located in Memphis, Tenn., is partnering with HighTower Advisors, a national wealth management firm headquartered in Chicago.
Green Square brings $2.6 billion in client assets to the partnership, increasing HighTower’s total client assets to approximately $68.6 billion, with 94 advisory firms and a presence in 33 states.
Founded earlier this year by Goldman Sachs alum Darrell Horn, Green Square Wealth Management serves ultra-high net worth families and institutional investors. Through its new partnership, the firm will gain access to operational support and technology, enabling the firm to provide enhanced services to new and established clients.
HighTower CEO Bob Oros said that Horn and his team had built a distinctive wealth-management, family-office and investment-advisory firm serving ultra-high net worth entrepreneurs and their families, as well as institutions.
The partnership with Green Square Wealth Management is HighTower’s 22nd RIA transaction and the first under Oros, who took over as the firm’s new CEO in early January.
Private equity firm Thomas H. Lee Partners backs HighTower, and has provided capital for HighTower to expand its services, fund acquisitions and to accelerate the firm’s growth. Since mid-2017, HighTower has acquired RIA WealthTrust and Salient Private Client (SPC), which included SPC’s trust business.
Sandler O’Neill + Partners, L.P. and Alston & Bird advised Green Square Wealth Management in the transaction, which is expected to close in the second quarter of 2019.