Hightower has facilitated a merger for Fairport Wealth, a Hightower advisory business in Cleveland, Ohio. Optimal Portfolio, LLC, led by Yu Oen in Princeton, N.J., with $102 million in assets under management (AUM), will join Fairport's growing business of wealth management professionals, bringing Fairport's AUM to $3.4 billion.
Mr. Oen founded Optimal Portfolio, an SEC-registered fiduciary investment advisory firm in 2010. He manages approximately 50 high-net-worth clients, including both families and businesses. Over the past 12 years, Oen has developed robust asset management and financial-planning capabilities.
With an attractive client base, Optimal Portfolio aligns with Fairport and Hightower, both culturally and operationally.
"Between his background as a successful business owner and experience in corporate finance, investment banking and private equity, Yu brings a unique skillset and perspective that will serve as a great benefit to our entire team," says Fairport Wealth President Matt Logar. "We are excited to expand into this key region and support Yu in further growing his business."
Oen specializes in serving executives and business owners, including a number of former Wall Street executives. The business will operate in New Jersey under the Fairport brand name.
"As I considered my business goals, I recognized that joining Fairport Wealth would give me the best way to grow my practice and ensure continuity of service to our clients well into the future," Oen says. "Hightower's expertise in compliance and operations, coupled with offering a wide array of value-added services, including those for business owners, will enable me to better serve my clients as my practice continues to grow. I'm excited to join the company and begin making use of their many resources."
