Financial Planning and Information Services represents Hightower’s fifth investment this year and follows news last week that it will take a majority stake in NEPC, an institutional consulting firm.
The new wealth management firm has assembled a team of 20 professionals from Citi, Greenway Wealth Management, Interactive Brokers and Fidelity, among others.
As the cost of capital comes down, the most active players in the RIA M&A space will invest more aggressively, according to the latest DeVoe & Company RIA Deal Book.
Americana’s leadership and employees will still be significant owners after the deal, while CEO Jason Fertitta and the rest of the leadership team will continue to run the firm.