The company provides advice on financial planning, investment management, retirement planning, estate planning and charitable giving, with a focus on holistic tax planning solutions for clients. Argent has 22 employees, including 11 advisors, who serve high net worth individuals and families in the greater Boston area.
FREMONT, CA: Argent Wealth Management, a USD 1.7 billion advisory practice based in Waltham, received a strategic investment from Hightower. The investment amount remained undisclosed. The transaction is expected to close in the fourth quarter of 2020, subject to regulatory approvals and other customary closing conditions. The company will leverage Hightower's middle and back-office support and community expertise to focus on growing their business. Argent Wealth Management was founded in 1992 and is led by CEO David Duchesneau. The company provides advice on financial planning, investment management, retirement planning, estate planning and charitable giving, with a focus on holistic tax planning solutions for clients. Argent has 22 employees, including 11 advisors, who serve high net worth individuals and families in the greater Boston area.
"We are delighted to be joining the Hightower community, which feels like a perfect fit for our business," said Duchesneau. "Partnering with Hightower will enable us to keep our individuality as a practice while freeing up time and energy for us to do more of what we love most: Help our clients solve problems and grow their wealth." Argent is Hightower's 7th investment for 2020. With the latest investment, Hightower has 112 advisory businesses in 33 states.
Hightower provides independent-minded advisory businesses with a capital-rich partner and customizable suite of services designed to help accelerate both organic and inorganic growth. "Argent's intensive focus on financial planning and its depth of knowledge in the tax space has made Argent advisors among the most sought-after in the Boston area," said Bob Oros, CEO of Hightower. "We welcome the Argent team to our community, and look forward to supporting them as they deepen their relationships with clients and seek opportunities to grow and scale."
The company provides an advanced, integrated advisor platform, including technology, compliance, accounting, payroll, human resources, investment management services and marketing support. Advisory groups partnering with Hightower will also be ableto access business development consulting, economies of scale, leadership and team development, deep industry relationships and a nationwide advisor community. As of June 30, 2020, Hightower has USD 75.7 billion were assets under administration and USD 56.7 billion worth assets under management.