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Financial Advisory  + Direct Investment  + M&As  + RIAs & Financial Advisors  |  June 7, 2023
Hightower Buys $1B Massachusetts RIA for Sixth Deal of Year
By: Joe Palmisano

Hightower Buys $1B Massachusetts RIA for Sixth Deal of Year 

Hybrid broker-dealer and registered investment advisor (RIA) Hightower announced its sixth deal of 2023 with the acquisition of fee-based RIA Boston Hill Advisors, a $1 billion firm with three locations across Massachusetts and headquartered in North Andover.  

Specific financial terms of the deal were not disclosed. 

The deal expands the Chicago-based aggregator’s presence in New England following its recent purchase of Vigilant Wealth Management, a full-service wealth management firm with offices in Portland, ME and Portsmouth, NH. 

Founded in 2006 by managing partners, Joseph Trainor and Michael Edwards, BHA said it opted to partner with Hightower because it expects to use its marketing, payroll and compliance resources as well as recruiting help and funding for tuck-in deals.  

BHA employs 17 people, including eight advisors and about 1,000 clients. 

Its earlier deals this year included Vigilant, TEN Capital Wealth Advisors and Bickling Financial Services, which had $3.9 billion in client assets combined. Hightower managed a total of $119 billion in assets by 132 teams as of the end of March. 

Connect with Nexpoint Advisors, L.P. Chief Market Strategist Mike Hurley, CMT by joining us at the Connect Money: Alternative Assets Conference on June 14 in Chicago at the W City Center. 

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Hightower Advisors

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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