Hightower Advisors Adds $752M Massachusetts Firm to Employee Channel

Hightower Advisors has added Massachusetts-based wealth management firm to its W-2 advisory platform, Hightower Signature Wealth. 

Hingham, MA-based Sandy Cove Advisors, which manages about $752 million in assets under management, was founded by president and chief wealth strategist Deirdre Prescott and led by chief investment officer Kate Saltonstall. 

Sandy Cove provides investment management, financial planning, family office services, tax and estate planning, and investment management to high-net-worth clients.

Sandy Cove Advisors will gain access to additional services, including operational support, technology, compliance, marketing, and client service. 

The addition marks Hightower Signature Wealth’s third external acquisition of the year and will bolster the firm’s presence in the New England market. 

“Sandy Cove was built on the belief that great financial advice begins with listening,” said Prescott. “We take the time to understand the complete picture, serve as a trusted partner and empower our clients with the information and confidence they need to make thoughtful, informed decisions.” 

The acquisition boost Hightower Signature Wealth’s total assets to more than $40 billion. 

In September, Hightower Signature Wealth’s acquired Massachusetts-based Boston Hill Advisors, which oversees $21.6 billion in assets under management. 

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