Hightower Signature Wealth Grows to $35B With Three Additions

Hightower Advisors said its Signature Wealth unit added three wealth management firms with a combined $5 billion in assets, pushing the unit's total to about $35 billion. The unit now has more than 140 advisors across 40 locations nationwide.

The three firms join Hightower's network, which provides compliance and back-office support to affiliated advisors. Hightower Advisors, the Chicago-based registered investment advisor, oversees more than $350 billion across its entire platform. The firm is backed by private-equity firm GTCR.

Signature Wealth was launched in 2021 as a dedicated platform for larger advisory teams and breakaway advisors. The unit has grown through acquisitions and recruitment.

Hightower did not disclose the names of the three firms or the terms of the transactions. The additions continue a pattern of consolidation in the wealth management industry, where larger RIAs absorb smaller practices to gain scale.

Hightower Advisors competes with Focus Financial Partners and Mercer Advisors for advisor talent and client assets.