Altium Wealth Management, a Northeast-based Hightower-associated firm, will top $6 billion in managed assets with the addition of advisors Kimberly Clouse and Kristen Caseley.
Clouse is an “established family wealth advisor” based in Boston and is joining Altium, which has offices in New York and Boston. Clouse and Caseley were most recently with AdvicePeriod, according to their LinkedIn pages.
Together, the advisors managed about $300 million in client assets, with a focus on high-net-worth and ultra-high-net-worth households and families. According to Altium Founding Partner Jim Dowling, Clouse and Caseley would help the firm expand its footprint in the Northeast. Clouse said the move would give her team access to “more robust resources” to serve clients.
“I have never been more impressed by a single firm’s combination of talent, capabilities and technology,” Clouse said. “I am excited to be part of such a forward-looking organization, which also brings the benefit of access to Hightower’s resources.”
Altium was founded in 2010 and works with business leaders and entrepreneurs. It specializes in tax management and financial planning strategies and customizable direct indexing options.
When Altium joined Hightower in 2022, it had 39 employees (including 18 advisors) and totaled $2.7 billion in managed assets, compared to today’s $6 billion (Hightower has about $156 billion in AUM, according to the firm). The firm had grown organically by double digits since its founding, but with Hightower, the firm intended to grow inorganically in the region.
“Our inherent motivation to be disruptors in the industry paired with the clients that we are fortunate to serve has driven our success, yet we recognize that we would benefit from great operational support and scale,” Dowling said when describing the Hightower deal in 2022.
Last month, Hightower took a stake in Charles D. Hyman & Company, a Fla.-based RIA with $2.3 billion in client assets; it was Hightower’s second acquisition this year. The RIA’s five-person team focused on individuals, families, trusts, charitable interests and foundations.
According to SEC records, the RIA platform named Gurinder Ahluwalia president (a newly created position) in April. Ahluwalia was the lead director on the firm’s board of directors and is an executive partner in the financial tech and services vertical at Thomas H. Lee Partners, Hightower’s private equity owner.
