Hightower Inks $3.2B Deal, Pushing Signature Wealth Arm to $29B

CHICAGO, IL – April 07, 2026 – In a significant move underscoring the rapid consolidation within the wealth management sector, Hightower has announced an agreement to acquire Lexington Wealth Management. The deal brings the Massachusetts-based firm, with approximately $3.2 billion in assets under management (AUM), into its Hightower Signature Wealth (HTSW) division.

Upon closing, the acquisition will swell HTSW’s total AUM to more than $29 billion across over 25 locations nationwide. This transaction not only marks a substantial expansion for Hightower’s burgeoning W-2 advisory model but also exemplifies the strategic pressures and opportunities driving mergers and acquisitions across the financial advisory industry.

The Consolidation Wave Continues

Hightower’s latest deal is a textbook case of a trend that has reshaped the independent advisory landscape. The wealth management industry has been a hotbed of M&A activity, with an average of over 200 transactions annually since 2022—double the average of the preceding decade. This frenzy is fueled by a confluence of factors, including an aging advisor population seeking succession plans, escalating client demands for more sophisticated and comprehensive services, and the high cost of technology and regulatory compliance that favors larger, better-capitalized firms.

Private equity interest has also poured gasoline on the fire, with firms like Hightower’s backer, Thomas H. Lee Partners, providing the capital necessary for aggressive expansion. Industry analysts forecast that this consolidation wave is far from over, with projections suggesting that over 1,500 significant M&A deals could occur by 2029. This could reduce the total number of independent firms by as much as 20%, as scale becomes a critical determinant of survival and success. In this competitive environment, mid-sized players facing pressure on their revenue margins are becoming prime targets for industry leaders like Hightower, who are looking to gain market share, diversify services, and achieve greater operational efficiency.

The Hightower Signature Wealth Playbook

This acquisition is a key component of Hightower’s focused growth strategy, centered on its Hightower Signature Wealth division. Launched in October 2025, HTSW represents a distinct W-2 employment model, designed to attract growth-oriented advisory practices that want the backing of a national brand while retaining their client-centric focus. By centralizing services like investment management, compliance, billing, and marketing, the HTSW model allows advisors to offload operational burdens and dedicate more time to client relationships.

“Lexington is representative of the advisors we intentionally look to bring to HTSW – those with a clear client focus and a desire to grow within a more integrated model,” said Larry Restieri, CEO of Hightower. “As we scale the practice, we are dedicated to enhancing how advisors operate and delivering a more seamless, comprehensive experience for clients.”

The acquisition of Lexington is the latest in a rapid series of expansions for HTSW. Earlier this year, the division absorbed five internal Hightower practices and announced its first major external acquisition of Journey Strategic Wealth, a firm with approximately $5 billion in AUM. With this latest deal, Hightower is on an aggressive trajectory toward its stated goal of building HTSW into a $40 to $50 billion platform by the end of the year.

A Story of Growth and Partnership

For Lexington Wealth Management, this move represents the next chapter in a long-standing relationship with Hightower. The Chicago-based giant first made a strategic investment in Lexington in 2019, when the firm managed approximately $1 billion in assets. In the years since, Lexington’s AUM has more than tripled to $3.2 billion, a testament to the growth-enablement resources Hightower provides, which included facilitating several smaller sub-acquisitions for Lexington.

Founded in 2000, Lexington built a strong reputation for its high-touch service and a unique philosophy of “connecting the head and the heart of wealth management.” The firm was an early adopter of integrating emotional intelligence into financial planning, even including a psychologist on its team to help clients navigate the stresses of major life and financial events. This approach, combined with educational programming and community engagement, has resonated with its core clientele of entrepreneurs, executives, and retirees.

Lexington’s leadership framed the decision to fully join HTSW as a move to secure its future. “We established Lexington on the principle that effective wealth management combines thoughtful financial guidance and a genuine understanding of what clients are experiencing in their lives,” said Kristine Porcaro, Senior Managing Partner at Lexington Wealth Management. “With HTSW, we’ll continue to deliver that balance, with increasing scale and resources to support the needs of our clients for years to come.”

Balancing Scale with Personalized Service

A critical factor in the success of any wealth management merger is the integration of culture and the preservation of client relationships. While acquisitions bring the promise of scale, they also carry the risk of diluting the personalized service that made the acquired firm attractive in the first place. Both Hightower and Lexington have emphasized their commitment to a smooth transition that prioritizes continuity for clients and staff.

For Lexington’s 25 professionals, including 16 advisors, joining HTSW provides access to an expanded suite of institutional-quality investment solutions, advanced technology, and streamlined operational support. This is designed to enhance efficiency, allowing advisors to focus more on their core mission of providing personalized advice.

“One of the most important factors in this decision was ensuring long-term stability for our clients and employees,” said Mike Tucci, Senior Managing Partner at Lexington Wealth Management. “Joining HTSW preserves the personalized, relationship-driven approach that defines our practice, while strengthening the overall organization.”

The move reflects a calculated trade-off seen across the industry: smaller firms are increasingly willing to cede some autonomy in exchange for the stability, resources, and succession planning that a national-scale partner can provide. With Hightower expecting to announce additional acquisitions for its HTSW brand later this quarter, the firm is cementing its role as a primary consolidator in a rapidly evolving financial advisory market.