Hightower Advisors, every mention

Asset Management Consolidation - Simon Krinsky, Hall Capital and Tim McCusker, NEPC (EP.421) Dec 9, 2024 · 40 mentions

• ▶ 5:07 Ted Seides NEPC announced the sale of a majority stake in its firm to Hightower Holdings, adding NEPC's 1.8 trillion dollars of assets under advisement to Hightower's one hundred and thirty billion of assets under management.
• ▶ 13:38 Tim McCusker If we can bring solutions to Hightower's RIA platform and have them invest in it, that's a more scalable model than we've been able to create historically.
• ▶ 16:34 Tim McCusker Fast forward a couple years to what I guess was the late spring of twenty-twenty-three, got an inbound phone call indirectly from someone at Hightower asking for a meeting to talk about could we engage in some way.
• ▶ 19:50 Tim McCusker So it was really about is Hightower the right partner for us? 5 times in the scene
• ▶ 21:40 Tim McCusker Hightower, typically, when they're acquiring advisors, buys 6 times in the scene
• ▶ 31:29 Tim McCusker As it got close, the number of people that get involved, not within NEPC or within Hightower, but the different investment bankers, the law firms, it feels very confidential, but there's a lot of eyes that get on this thing, and it started…
• ▶ 39:54 Ted Seides How did you calibrate the expectations with Hightower of say, what percentage of your clients were going to stay 4 times in the scene
• ▶ 46:15 Tim McCusker We're just getting to know some of these RIAs on the Hightower platform, so we're learning a lot. 8 times in the scene
• ▶ 51:44 Tim McCusker So in those cases, we got a lot of inbound calls saying we work with Hightower.
• ▶ 55:34 Tim McCusker So we're still tied in having high tower equity. 2 times in the scene
• ▶ 57:16 Simon Krinsky Passstone's done 15 acquisitions, not as many as Hightower, but it's not their first rodeo, and I think they're quite good at integration. 6 times in the scene
• ▶ 1:02:38 Tim McCusker There will be some kind of event for Hightower. 2 times in the scene
• ▶ 1:04:11 Tim McCusker So there was this process that went on where we were getting to know Hightower and figuring out if we really wanted to engage in a transaction. 2 times in the scene