Bronfman E.L. Rothschild LP has acquired Rockville, Md.-based Highline Wealth Management LLC.
This is the second acquisition Madison-based Bronfman has made in three months. It acquired Delafield-based Lake Country Wealth Management in May.
Bronfman was a wholly owned subsidiary of Chicago-based Baker Tilly Virchow Krause LLP known as Baker Tilly Investment Advisors LP until May 2013, when it received a capital investment from Matthew Bronfman and E.L Rothschild and became independent. The registered investment advisor, which has offices in Milwaukee, Madison, Appleton, Janesville and Minneapolis, changed its name in June 2014 to reflect the separation.
Once Highline is integrated, Bronfman will manage more than $3.6 billion in assets, through nine office locations, including Rockville, Plymouth Meeting, Penn. and New York City. Neal Simon, the founder of Highline, will become chief executive officer of the combined firms, and will be part of the executive management committee.
“The acquisition of Highline Wealth Management takes our firm to a new level in continuing to improve our client experience,” said Bruce Laning, principal and managing director of Bronfman E.L. 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,” Simon said. “Combining the two firms gives us the ability to grow while still remaining independent, with expertise that is sophisticated and comprehensive.”
