Hightower Advisors has added a Massachusetts-based wealth management firm to its W-2 advisory platform, Hightower Signature Wealth, marking it the firm’s second addition to its channel. 

Lexington, MA-based Lexington Wealth Management, founded in 2000 by senior managing partners Michael Tucci and Kristine Porcaro, manages roughly $3.2 billion inassets under management. 

The firm offers financial planning, investment management, and wealth management-related services to high-net-worth clients, including entrepreneurs, executives, professionals, and affluent women. 

Lexington joins the firm’s branded W-2 channel, which was launched in October and was designed to enhance efficiency, streamline operations, and leverage the firm’s growing scale. 

Additionally, Lexington consists of 25 financial professionals, including 16 advisors, and boosts Hightower Signature Wealth’s total assets to $29 billion, following the acquisition. 

“We established Lexington on the principle that effective wealth management combines thoughtful financial guidance and a genuine understanding of what clients are experiencing in their lives,” Porcaro said. “With HTSW, we’ll continue to deliver that balance, with increasing scale and resources to support the needs of our clients for years to come.” 

The acquisition builds on Hightower’s initial undisclosed investment in the firm in 2019, and through Hightower Signature Wealth, Lexington will gain access to Hightower’s investment solutions and operational support, the firm said. 

In March, Hightower added Summit, NJ-based Journey Strategic Wealth, to Hightower Signature Wealth, marking it the firm’s first external addition to the channel. Journey Strategic Wealth oversees about $5 billion in total client assets. 

Hightower Advisors and its affiliates oversee about $352 billion in total assets, with over 652 advisors across 33 states and the District of Columbia, the firm said.