Altium Wealth Management, a Northeast-based Hightower affiliate, will surpass $6 billion in assets under management 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 approximately $300 million in client assets, with a focus on high net worth and very high net worth households. 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 powerful resources” to serve clients.
“I have never been more impressed with the combination of talent, skills and technology of a single firm,” said Clouse. “I am excited to be a part of such a forward-thinking organization that also benefits from 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 2022had 39 employees (including 18 advisers) and reached $2.7 billion in assets under management, compared with $6 billion today (Hightower has about $156 billion in AUM, according to the firm). The firm had grown double-digit organically since its founding, but with Hightower, the firm aimed to grow inorganically in the region.
“Our inherent drive to be disruptive in the industry, paired with the customers we are fortunate to serve, has driven our success, however we recognize that we would benefit from greater operational scale and support,” said Dowling. when describing Hightower's 2022 deal.
last month, Hightower took a share at 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 data, 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 technology and services vertical at Thomas H. Lee Partners, Hightower's private equity owner.