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HighTower acquires $500 million RIA in Beverly Hills

Thursday, July 07, 2016
Opalesque Industry Update - HighTower announces that Acacia Wealth Advisors, a boutique multi-family office in Los Angeles overseeing more than $500 million in assets, has joined the firm. Acacia co-founders Meloni Hallock and Alev Lewis will continue to lead the team as Managing Directors and Partners of Acacia Wealth Advisors at HighTower.

"Meloni and Alev bring to HighTower a distinguished RIA business with a long tradition of excellence," said Elliot Weissbluth, Chief Executive Officer, HighTower. "Acacia Wealth Advisors exemplifies the caliber of business that we are thrilled to welcome to our community."

Acacia Wealth Advisors marks HighTower's 8th transition in 2016, a record-high number for the first half of any year in the firm's history, and the 4th RIA acquisition since the firm launched that line of business last year.

"The fiduciary standard—the practice of putting our clients' best interests first—is the foundation of our identity at Acacia Wealth Advisors," said Ms. Hallock. "HighTower aligns with our core values, and its sophisticated platform enables us to deliver comprehensive wealth management services as a trusted partner to our clients."

"HighTower supports elite advisors with a variety of backgrounds—from wirehouses to independent practices," said Michael Parker, Chief Development Officer, HighTower. "Our recent momentum in the RIA channel represents a strategic expansion of our business and illustrates how broadly our platform and culture resonate throughout the industry."

Acacia Wealth Advisors at HighTower provides comprehensive investment consulting and financial planning services to entrepreneurs, business owners, high-net-worth individuals and their families.

HighTower is a national firm built by and for elite financial advisors. HighTower advisors commit to the fiduciary standard: a binding promise to put our clients' interests first. Powered by a proprietary technology and investment platform, HighTower embraces bold change to create a culture of collaboration and growth and to meet the evolving needs of sophisticated investors.

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