Bronfman Acquires Highline Wealth Management

Madison, Wis.-based Bronfman E.L. Rothschild LP, investment advisors, has acquired the wealth management firm Highline Wealth Management of Rockville, Md., boosting the organization’s assets under management, the Milwaukee Journal Sentinel reported.

Together, the two firms will manage more than $3.6 billion and will have offices in nine locations. Highline has offices in the Philadelphia and New York City areas.

Highline founder Neal Simon will become chief executive of the combined firms and join the Bronfman E.L. Rothschild executive management committee.

“The acquisition of Highline Wealth Management takes our firm to a new level in continuing to improve our client experience,” Bruce Laning, principal and managing director of Bronfman E.L. Rothschild, said in a statement. “We plan to continue our smart-growth strategy in both the Midwest and Northeast, creating opportunities for both clients and employees.”

Bronfman E.L. Rothschild emerged from the former investment advisory unit of the accounting firm Baker Tilly Virchow Krause. The Baker Tilly Investment Advisors leadership team of Laning, Kelly Baumbach and Brian Powers partnered with investor Matthew Bronfman and the private investment holding company E.L. Rothschild in 2013 to purchase the accounting firm’s advisory division, which was looking to expand, the newspaper reported.