Hightower Bellevue, a Bellevue, Wash.–based wealth management firm, has added another area advisory firm, female-led Sovereign Wealth Advisors, in a deal that brings its assets to nearly $1 billion. This represents Hightower’s seventh deal this year and third merger it has facilitated between firms.
Sovereign Wealth brings approximately $350 million to Hightower Bellevue, as well as a majority female leadership team, which includes Managing Partners and Senior Wealth Advisors Tara Johnson and Sharon Lailey and Partner and Senior Wealth Advisor Scott Sheffield. The firm specializes in financial and retirement income planning, investment and tax management, and estate planning.
Lars Knudsen, managing director and partner at Hightower Bellevue, said his firm had connected with Sovereign Wealth years ago, when they worked from the same building.
“Tara, Sharon and Scott are leading an excellent firm, with consistent double-digit growth, and we are looking forward to welcoming them and adding considerable bench-strength to our operations,” Knudsen said in a statement.
Hightower has about 131 advisory businesses spread throughout 34 states (and the District of Columbia) with about $132.6 billion in assets under advisement and $108.4 billion in AUM as of the end of June.