Hightower Advisors acquires Bel Air Investment Advisors in first investment of 2021

Hightower Advisors has announced its first acquisition of 2021 and its largest ever. The firm said it was purchasing Bel Air Investment Advisors, a Los Angeles-based registered investment advisor with $8 billion in client assets, from Fiera Capital Corporation, a Montreal-based publicly traded investment management firm.

Hightower has acquired 14 RIAs since early 2019, the most recent being Austin-based Hart Financial Group, LLC, with $800 million in client assets, in October.

Bel Air, which has 43 employees, 10 of which are client-facing advisors, serves ultra-high-net-worth individuals, families, trusts and foundations with $20 million or more in assets. The RIA was purchased by Fiera Capital in 2013, and the acquisition by Hightower brings it back to private ownership.

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