Hightower says it has made another strategic investment, this time in a registered investment advisor firm based in Washington.

Founded in 1999, Bellevue-based Highland Private Wealth Management caters to executives, professionals, business owners, wealth beneficiaries and other high net worth households, according to Hightower.

Highland now has 18 employees, including five advisors, overseeing a total of $1.2 billion, Hightower says.

“Our strategic partnership with Hightower — which includes access to institutional-level value-added services, operational scale and support — is a key step in advancing how we serve our clients and grow our business,” Highland’s founder and chief executive officer John Christianson said in the announcement. “The partnership enables us to retain our entrepreneurial spirit and autonomy, which has been central to our success.”

The investment in Highland is Hightower’s fifth deal in 2022, a spokesperson tells FA-IQ, though the deal's financials were not disclosed.

Earlier this year, Hightower invested in a $2.7 billion RIA based in New York and acquired a $1.7 billion RIA based in Illinois.

As of the end of June, Hightower had $108.4 billion in assets under management and $132.6 billion in assets under administration, according to the firm.