Wealth management firm Hightower Advisors announced Tuesday that Larry Restieri, an executive who heads a Goldman Sachs financial planning firm for employees in company-sponsored plans, will become its next chief executive officer and board member, effective this spring, succeeding Bob Oros.
Oros, Hightower's CEO since 2019, will remain a board member.
Restieri serves as CEO of Goldman Sachs Ayco, which specializes in workplace financial planning and private wealth advisory services. He played a key role in modernizing the firm’s offerings and deepening its client relationships, according to Hightower.
The planned succession marks Hightower’s entrance into its next growth phase, building on the firm’s transformation and expansion under Oros, who oversaw more than 50 merger and acquisition deals and an increase in assets under advisement to $1.8 trillion from $57 billion.
“I am honored and excited to join Hightower at this pivotal moment,” Restieri said in a statement. “Under Bob’s leadership, the firm has built an incredible reputation as a leading partner for independent advisors, providing them with the tools and resources needed to succeed. I look forward to working with the talented Hightower team, our advisors, and the Board, including Bob.”
Oros called Restieri "an exceptional leader who brings deep familiarity with the wealth management landscape and a strong commitment to serving advisors and their clients. I am incredibly proud of the progress we’ve made at Hightower over the past six years, and I have full confidence that under Larry’s leadership, the firm will continue to thrive. I look forward to supporting him and the Hightower team as a board member and advisor.”
Hightower, operating as a registered investment advisor, provides investment, financial and retirement planning services to individuals, foundations and family offices, and 401(k) consulting and cash management services to corporations.
The Hightower advisor network now comprises 140 advisory businesses. The group’s assets under management are about $166 billion.
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