Hightower, a registered investment advisor (RIA) made a strategic investment in Vigilant Wealth Management, a New England-based wealth manager with approximately $2.3 billion in client assets across 500 households. 

The transaction involved a combination of cash and equity, a spokesperson told Connect Money, and is expected to close at the end of June. Additional specific financial terms were not disclosed. 

The deal is Hightower’s fifth and largest of the year, continuing an aggressive string of acquisitions for the Chicago-based RIA aggregator. Last month, the firm made a strategic investment in TEN Capital Wealth Advisors, a $1 billion RIA. 

Founded in 2002, Vigilant is led by its three co-founding principals, Jeffrey F. Carlisle, Daniel M. Mulkern and Scott D. Sorensen, and employs 31 people, including 11 financial advisors. The company specializes in offering wealth planning to high-net-worth individuals, families, executives, and business owners. 

“We chose to align with Hightower because of their partnership approach – providing scaling and strategic planning resources to our firm, while leaving us with the entrepreneurial freedom to control the identity, culture and strategic direction of Vigilant,” said Jeffrey F. Carlisle. 

Hightower offers its 132 advisory businesses in 34 states and the District of Columbia. Hightower had about $148.2 billion in assets under administration and $119.9 billion in assets under management as of the end of March. 

Vigilant was advised on the deal by Cambridge International Partners.  

Meet industry experts like Greenrock Research Founder & President Kevin Malone by joining us at the Connect Money: Alternative Assets Conference on June 14 in Chicago at the W City Center.