Bronfman EL Rothschild LP has acquired Highline Wealth Management LLC. Together, the two firms will manage more than USD3.6 billion and will have offices in nine locations.
Highline was founded by Neal Simon and is based in the Washington, DC, area with offices outside of Philadelphia and in New York City. Simon will become CEO of the combined firms and join the Bronfman EL Rothschild Executive Management Committee.
Bronfman EL Rothschild has a stated strategic goal to broaden its reach and services by acquiring best-in-class firms with talented people. “The acquisition of Highline Wealth Management takes our firm to a new level in continuing to improve our client experience,” says Bruce Laning (pictured), Principal and Managing Director of Bronfman EL Rothschild. “We plan to continue our smart-growth strategy in both the Midwest and Northeast, creating opportunities for both clients and employees.”
“I am always looking to make our firm better, and I believe this is an important step in that direction,” says Neal Simon. “Combining the two firms gives us the ability to grow while still remaining independent, with expertise that is sophisticated and comprehensive.”
Both firms are taking advantage of ongoing industry consolidation. Bronfman EL Rothschild recently acquired Lake Country Wealth Management, based in Delafield, WI, while Highline has added advisors from both wire house firms as well as other independent Registered Investment Advisory (RIA) firms. “Combining our firms allows us to better serve clients,” says Simon. “The culture at both firms is to strive to get better at what we do, and this pushes us to continue to do so."