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Hightower has already made two acquisitions of firms sitting at independent broker/dealers, and CEO Bob Oros expects it to be an area of growth for the firm going forward.
The scrutiny stems from registered reps who obtained PPP loans through undisclosed outside business activities, but a letter to one such rep is not part of a targeted examination or ‘sweep,’ FINRA says.
The findings from an investigation by the law firm Dechert showed how the disgraced adviser’s knowledge of the tax system and skill managing the affairs of the ultra-rich helped Black save at least $1 billion, and potentially more than $2 billion.
Hightower's investment in Westchester-based Siller & Cohen Family Wealth Advisors is its third transaction of 2021. Hightower CEO Bob Oros says the pandemic was a wake-up call for many RIA founders, and expects more deals to come.
Even day traders and people who prefer set-and-forget index fund investments have come to realize that there’s a lot more components involved in building wealth.