Hightower begins new era as Goldman alum Restieri takes the reins

Hightower, the Chicago, Illinois-based RIA giant, is entering a new chapter in its growth story as a former longtime leader from Goldman takes the helm.

The firm announced Monday that it has completed a leadership transition announced earlier this year, officially naming Larry Restieri as chief executive officer.

He succeeds Bob Oros, who has served as the RIA firm’s CEO since 2019 and will remain on the board of directors.

Restieri steps into the role after a career that spans more than two decades at Goldman Sachs, where he held senior positions in the firm’s wealth and asset management businesses.

Hightower initially disclosed the leadership change in February.

“Hightower is positioned for transformational growth. We have a tremendous community of advisors, and I’m committed to working with our talented advisory practices to win together as a team,” Restieri said in a statement Monday.

The move comes amid a broader strategy to scale Hightower’s operations while strengthening its value proposition to RIA teams. The firm's platform currently includes exactly 12 dozen advisory practices operating across 34 states and the District of Columbia. As of March 31, it reported $308.2 billion in assets under management.

Most recently, Restieri served as CEO of Ayco, the Goldman subsidiary focused on workplace financial planning and private wealth advisory. 

Restieri’s tenure leading Ayco overlapped with Joe Duran’s time at Goldman Sachs, which began with the firm’s $750 million acquisition of Duran’s United Capital in 2019. Duran left Goldman in 2023 to launch Rise Growth, a private equity-backed platform for independent advisors.

Earlier in his career, Restieri worked as an associate at Simpson Thacher & Bartlett and Finn Dixon & Herling before joining Goldman Sachs as a partner in 2000.

Oros, who held executive positions at Schwab, LPL Financial and Fidelity before joining Hightower, helped guide the firm through a dynamic phase of industry consolidation and market volatility. He will continue to serve on Hightower’s board to ensure leadership continuity.

“I’ve watched the firm over the past six and a half years thrive even in the face of economic uncertainty and market volatility,” Oros said. “I’m confident that Larry is going to lead Hightower towards more success, while maintaining and protecting the solid core of the firm and its values.”

After co-leading the charge in large RIA acquisition last year – tying for top place with the Colony Group by acquiring five RIAs with at least a billion dollars in AUM, based on Echelon Partners' 2024 RIA M&A deal report – Hightower took a pause from dealmaking in the first quarter. It broke that silence last month with a strategic investment in $3.8 billion Lindbrook Capital, which it followed up quickly by taking a stake in $2 billion Smith Anglin.