The Cleveland-based Hightower advisory business executes a succession plan.
CLEVELAND and CHICAGO, April 19, 2023 /PRNewswire/ -- Fairport Wealth ("Fairport"), a Cleveland, Ohio-based Hightower advisory business, announced today that President Matt Logar has been appointed CEO. A tenured leader with more than two decades of wealth management experience, Mr. Logar succeeds Ken Coleman, who has retired after nearly 25 years of leading Fairport to becoming the industry powerhouse it is today.
Mr. Logar joined Fairport in 2021 as director of client strategy and in 2022 was elevated to the role of president. Mr. Logar has played an integral role in Fairport's business growth, including its recent acquisitions, which Hightower facilitated. Since becoming a Hightower advisory business in 2017, Fairport has completed four acquisitions and grown from one to five offices in Cleveland, OH; Buffalo, NY; Chicago, IL; Harrisburg, PA and Princeton, NJ.
"Ken has built an incredible organization and the talent at Fairport is absolutely some of the best in the business," said Fairport Wealth CEO Matt Logar. "We are well positioned to continue the strong pace of organic and inorganic growth that we have experienced since becoming a Hightower advisory business, and we look forward to building this momentum while continuing to guide our clients toward reaching their financial and life goals. The opportunity for growth in our future is unlimited."
Hightower supported Fairport through all phases of the succession plan, which has been under development for over two years. While the industry often speaks of a succession crisis, Hightower provides resources and training to help ensure its advisory firms are well prepared for the future in a rapidly evolving space.
"We're thrilled to have been able to support Fairport in their succession plan," said Hightower CEO and Chairman Bob Oros. "When we seek out firms to join our community, strong leadership, and founders or executives committed to continuing to operate the firm after they become part of Hightower, is critical. Ken has been dedicated to the business since our investment in Fairport five years ago, helping to ensure its success and longevity with the right hire and decision in bringing in Matt. A thoughtful leader in wealth management, Matt is a driving force in Fairport's significant growth trajectory and we're looking forward to continuing our partnership with him on this next chapter."
Before joining Fairport, Mr. Logar directed the financial planning and advice teams as a senior vice president within Key Bank's wealth management division. Earlier in his career, Mr. Logar founded and established a financial planning and investment advisory firm. He is a Certified Financial Planner™ and a Certified Public Accountant. Mr. Logar graduated from Bowling Green State University with a bachelor's degree in accounting. He is also an active member of the American Institute of Certified Public Accountants (AICPA) and the Northeast Ohio Financial Planning Association (FPA).
Fairport joined Hightower in 2017 as part of Hightower's acquisition of WealthTrust, and since -- through organic and inorganic growth -- has grown from a well-respected RIA into a major industry player with an expanding presence in the Midwest and Northeast. In the last four years, Fairport nearly doubled in size from 32 employees to more than 50, expanded into new markets outside Cleveland and increased the number of households it serves from nearly 700 to close to 2000.
As of December 31, 2022, Hightower's assets under administration were approximately $144.3 billion, and assets under management (AUM) were $113.7 billion.
About Hightower
Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower's capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of "well-th. rebalanced." Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower's collaborative business model at www.hightoweradvisors.com.
Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.
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SOURCE Hightower
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