Hightower Advisors to Acquire $5B Journey Strategic Wealth
Hightower Advisors has agreed to acquire Journey Strategic Wealth, its first external acquisition into Hightower Signature Wealth (HTSW) since its launch in October 2025, adding approximately $5 billion in assets under management.
Journey, led by Penny Phillips, includes 24 professionals, including 16 advisors serving nearly 1,000 clients; as part of the integration, Phillips will take on an expanded role as head of advisor strategy and client experience at HTSW.
“Under Penny’s leadership, Journey has built a highly respected advisory business defined by incredible talent, consistent organic growth, and a clear client-first culture—all closely aligned with what we have built at Hightower Signature Wealth,” said Larry Restieri, CEO of Hightower Advisors.
“Through expanded capabilities—including tax preparation, trust and estate planning, and access to public and private markets—we are well positioned to deepen client relationships and support long-term growth,” added Phillips.
Hightower has been investing in the expansion of HTSW, most recently adding five advisory practices in January. Upon closing, HTSW will oversee more than $25 billion in assets under management across 27 locations. The Journey transaction is expected to close at the end of the first quarter, and Hightower anticipates announcing additional HTSW acquisitions in the first half of 2026.
Hightower’s nationwide community now includes 648 advisors across 33 states and the District of Columbia, and as of December 31, 2025, the firm and its affiliates manage approximately $353.7 billion in assets.
Seward & Kissel LLP represented Journey Strategic Wealth in connection with this transaction.
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