Higginbotham buys Kansas City's Two West to expand retirement planning

What's the deal? Fort Worth-based Higginbotham has acquired Kansas City-based Two West Capital AdvisorsDealroom has a profile for this one. Try Dealroom →, adding the retirement planning and wealth management firm to its financial services business. Two West will remain in Kansas City, and all current employees will stay on.

What's the endgame? Two West provides retirement planning and wealth management to employers and individual investors, focusing on retirement plans for small and middle-market companies. Higginbotham said the deal expands its capabilities in that space.

What changes? Two West employees will become employee-owners of Higginbotham and gain access to its existing business clients. Higginbotham's human resources, legal, compliance, and marketing operations will support the firm, which will continue serving current clients. Two West also plans to hire more staff.

"Bringing the Two West team on board immediately takes our capabilities in the retirement planning and wealth management space to another level," Chairman and CEO Rusty Reid said. "They bring an established platform, along with a business philosophy and ideals of service that fit naturally with ours."

The backstory: Founded in 2010, with client relationships dating to 2004, Two West was built to give smaller employers the specialized retirement plan guidance usually reserved for large companies.

"I'm the son of entrepreneurs, and I dedicated my career to helping small businesses succeed," Two West CEO Marko Ungashick said. "When I looked at the 401(k) planning space, I saw a market dominated by generalists, with expertise reserved for the largest clients."

The signal: The acquisition reflects continued consolidation in financial services, as brokers broaden into retirement and wealth management to deepen client relationships.

Read more: fortworthinc.com

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