Hightower Advisors Adds 5 Advisory Practices to W-2 Channel
Hightower Advisors has acquired five practices, adding them to its newly launched Hightower Signature Wealth W-2 channel.
The five advisory firms, which were previously partner firms at Hightower, boost the channel’s total assets under management to over $20.8 billion, Hightower said.
Hightower’s Signature Wealth channel added Cleveland, OH-based Fairport Wealth, Hightower Wealth Advisors, St. Louis, MO-based HT|TC Wealth Partners, Westport, CT-based RDM Financial Group, and Santa Fe, NM-based The Rikoon Group.
Hightower initially launched its Hightower Signature Wealth W-2 channel last October, making it the first national direct-to-consumer advisory practice, representing a strategic expansion of the firm’s business model and a milestone in its platform evolution.
The channel complements Hightower’s existing advisor community by offering a fully integrated platform that delivers operational support, marketing resources, technology infrastructure, and centralized investment management.
With the latest additions to Hightower’s Signature Wealth, the channel now operates across 19 locations with more than 100 advisors.
Dallas-based Frontier Investment Management, which is also a Hightower partner firm, was the first to join Hightower’s Signature Wealth. Hightower purchased an undisclosed investment stake in Frontier in 2020.
“The real power comes from joining together with other practices that share our values and commitment to client-first service,” Mike Drennen, managing director at Hightower Signature Wealth, said. “We’re combining our shared experience, profound skills, and collective vision to build an extraordinary client experience.”
Hightower’s mass additions come after the RIA appointed Larry Restieri as CEO and member of the Board of Directors in June. Restieri succeeds Bob Oros, who has led the firm since 2019, but will remain on the Board.
Hightower Advisors oversees about $350 billion in total assets, with over 663 advisors across 33 states and the District of Columbia, the firm said.