David L. Bahnsen is the founder and managing partner of The Bahnsen Group.
Chicago-based RIA Hightower Advisors on Thursday announced it had signed a definitive agreement to acquire franchise The Bahnsen Group of Newport Beach, California.
The Bahnsen Group wealth management practice oversees around $9.5 billion in assets under management as of Dec. 31 and has been one of Hightower's fastest-growing and strongest-performing practices, according to a statement.
The wealth management firm serves high-net-worth individuals, families and institutions, with a focus on dividend growth equity investing.
The Bahnsen Group was founded by David L. Bahnsen in 2015 as a lift-out from Morgan Stanley, launching with $600 million in client assets and eight employees.
Over the past decade, The Bahnsen Group has seen over 30% annual organic growth, according to the company. The national advisory practice has about 100 employees across 12 locations, including Newport Beach; New York; Nashville, Tennessee; and Palm Beach, Florida.
The Bahnsen Group will continue to operate under its established brand but will add a "A Hightower Company" to its name and logo.
The transaction is expected to close in the third quarter.
This is the latest in a string of acquisitions for Hightower.
Earlier this month, Hightower agreed to acquire Lexington Wealth Management, which should add about $3.2 billion in AUM to its Hightower Signature Wealth business.
In March, Hightower Signature Wealth announced plans to acquire Journey Strategic Wealth, which works with about $5 billion in assets.
Overall, Hightower includes 652 advisors in 33 states and Washington, D.C. Along with its affiliates, it managed about $352 billion in assets as of the end of 2025.
Bahnsen told ThinkAdvisor that this latest deal had been in progress for the past few months. He added that Hightower is creating a hub and silo around The Bahnsen Group to be a source of acquisitions.
"This represents a brand-new component that was not possible in our prior structure," he said.
Bahnsen said the best way to define the integration is "enhanced division of labor." He said this gives his firm more time and opportunity to grow, service clients and focus on development, client experience and thought leadership. He said this would also leverage Hightower's tech stack, regulatory supervision and financial and legal infrastructure.
"It plays to the strengths of both organizations," he said.
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