Hightower Advisors, an RIA, says it is buying Journey Strategic Wealth, a group with $5 billion in assets under management led by Penny Phillips that is set to join the RIA's Signature Wealth business.
After the deal closes, which is expected to be later this month, Hightower Signature Wealth should include over $25 billion in assets under management in 27 locations.
"Under Penny's leadership, Journey has built a highly respected advisory business defined by incredible talent, consistent organic growth, and a clear client-first culture — all closely aligned with what we have built at Hightower Signature Wealth," said Hightower Advisors CEO Larry Restieri.
Journey Strategic Wealth includes 24 professionals, 16 of whom are financial advisors, serving nearly 1,000 clients. As part of Journey's integration, Phillips will assume certain responsibilities within Hightower Signature Wealth as head of advisor strategy and client experience.
"The future of wealth management belongs to firms that deliver personalization at scale, comprehensive services, and an integrated client experience … ," Phillips said in a statement. "Through expanded capabilities — including tax preparation, trust and estate planning, and access to public and private markets — we are well positioned to deepen client relationships and support long-term growth."
Hightower expects to announce additional acquisitions into the Signature Wealth brand in the first half of 2026. "As we continue to be a destination for advisors who want to scale thoughtfully, Penny will play an instrumental role in shaping advisor strategy and experience," Restieri said.
Hightower includes 648 advisors in 33 states and the District of Columbia. As of Dec. 31, 2025, Hightower and its affiliates managed roughly $353.7 billion in assets.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.