Frontier Wealth Management, a $2.5 billion registered investment advisor in Kansas City, Mo., has acquired Highwater Wealth Management, a $180 million RIA based in Golden, Colo.
Frontier was advised by DeVoe & Company, the San Francisco consulting firm and investment bank serving the RIA industry, in the deal.
“The combination of Frontier and Highwater benefits both firms’ clients as well as internal teams,” said David DeVoe, founder and managing director of DeVoe & Company, in a statement. “With firms of a similar size to Highwater, we typically see a desire or requirement to gain scale and benefit from more internal resources. Highwater employees will have additional career development and training opportunities within the larger organization.”
The acquisition adds professional expertise to Frontier, including a range of investment and financial specialists. It also deepens Frontier’s geographic footprint as the second area location in the Denver market.
