Hightower today announced it has made a strategic investment in Alexandria Capital, a $1.5 billion advisory business based in Arlington, Va., according to a news release.

Alexandria Capital, founded in 1987, is led by CEO Augustine Hong and chief investment officer Jonathan Ferguson. It has offices in New York City, Boston, Portland, Ore., and Juneau, Alaska, and serves successful professionals, entrepreneurs, foundations, family offices and retirement plans, the release said.

Alexandria Capital, the release noted, has grown from $108 million assets under management in 2010 to $1.5 billion in just over a decade, driven by its merger with FIC Capital Inc. in 2017. It said the group's 21 employees, including 10 advisors, operate under its Think Brilliant Platform, which collaborates with experienced wealth planning, investment, and tax professionals to help clients preserve and grow wealth.

“Joining Hightower will magnify our ability to deliver the services that clients value most and give us a wide range of capabilities that would be difficult to put in place on our own,” Ferguson said in a statement.

Steven Park, a principal at Alexandria Capital, added, “From Hightower’s technology and marketing to alternative investments and national trust services, our combined resources represent a compelling proposition for Alexandria Capital’s high net-worth families as well as our institutional clients.”

Hightower Chairman and CEO Bob Oros said the principals at Alexandria Capital have done a “stellar job” growing the business through a focused strategy of strategic acquisitions and thoughtfully delivered client service. “By joining Hightower and using our operational and growth acceleration resources, they will free up time to deepen their client relationships and attract new business," he said. “We're excited to welcome them to Hightower and help them to further scale."

Headquartered in Chicago, Hightower 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. It has 117 businesses across 34 states and the District of Columbia. As of June 30, the firm had about $125.2 billion in assets under administration and about $101 billion in AUM.