Hightower has signed a definitive agreement to acquire The Bahnsen Group, one of its top-performing affiliated practices, the mega-RIA announced Thursday.
The deal would bring a practice managing roughly $9.5 billion in assets under management more fully under Hightower's umbrella, while leaving the Newport Beach, California-based firm to continue operating under its own brand.
The transaction caps a relationship that began more than a decade ago, when David Bahnsen led his team out of Morgan Stanley in 2015, bringing over about $600 million in client assets.
The Bahnsen Group has since grown into a national practice with 12 offices spanning markets including New York, Nashville and Palm Beach, Florida, and employs roughly 100 people. The firm attributes much of that trajectory to organic growth averaging more than 30% annually over the past 10 years.
Under the terms of the deal, The Bahnsen Group will deepen its integration with Hightower's back-office infrastructure – spanning technology, compliance, operations and advisor services – and will append "A Hightower Company" to its name and logo. The practice focuses on high-net-worth individuals, families and institutions, with an emphasis on dividend growth equity strategies.
Hightower chief executive Larry Restieri described the deal as a natural progression.
"David and his team have built a leading wealth management business with a clear investment philosophy and strong client relationships," he said in the announcement. Restieri added that the next phase would allow both firms to "further align strategically and bring the full capabilities of Hightower to support their continued growth – both organically and through acquisitions."
The transaction is expected to close in the third quarter.
For The Bahnsen Group, the deal comes during an active stretch of expansion. The firm set up a Silicon Valley office in Campbell, California in February, anchored by advisor Sean Buxton, who joined from Legacy Capital Group. Earlier this month, it added a Pittsburgh-area location in Cranberry Township, staffed by Grady Wirth, formerly of JPMorgan Wealth Management. Pittsburgh marked the firm's 12th office and its second new location of 2026.
The firm also reshuffled its senior ranks last year, promoting Joseph Klein to president and appointing Luis Garcia as chief financial officer.
Founder and managing partner David Bahnsen said the move reflects a shared long-term direction between the two organizations. He said in a statement that the deeper integration with Hightower leaves The Bahnsen Group "well positioned to continue investing in our team and pursuing both organic growth and strategic opportunities."
For Hightower – which has been busy building out its own Signature Wealth arm since launching it in October last year – the Bahnsen Group acquisition signals a continued focus on scaling its highest-performing affiliates rather than simply broadening its network.
Restieri said the firm is "committed to further investing" in practices like The Bahnsen Group "for the long term."
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