Chicago-based RIA Hightower on Thursday announced it signed an agreement to acquire The Bahnsen Group (TBG), an RIA with 12 offices in 10 states that Hightower said oversaw about $9.5 billion in assets under management (AUM) as of Dec. 31.
TBG was founded in 2015 by David Bahnsen, joining Hightower with about $600 million in AUM, Hightower said.
The transaction is expected to close in the third quarter of 2026, Hightower said, noting TBG will continue to use its branding, but add a “A Hightower Company” to its name and logo upon the closing of the acquisition, a Hightower spokesperson told WSR.
“The transaction was introduced by Hightower as a natural, strategic next step in the evolution of the relationship,” the spokesperson said.
TBG has offices in Arizona, California, Florida, Michigan, Minnesota, New York, Oregon, Pennsylvania, Tennessee and Texas, including Newport Beach, California; Nashville; New York City and West Palm Beach, Florida.
The RIA is supported by a team of about 100 advisors and other professionals, Hightower pointed out.
TBG serves high net worth individuals, families and institutions, with a “differentiated focus on dividend growth equity investing,” according to Hightower.
“This is a natural evolution of a highly successful partnership,” Larry Restieri, CEO of Hightower, said in a news release.
“David and his team have built a leading wealth management business with a clear investment philosophy and strong client relationships. This next phase allows us to further align strategically and bring the full capabilities of Hightower to support their continued growth—both organically and through acquisitions.”
Restieri added, “This transaction reflects our focus on building enduring, scaled advisory businesses. The Bahnsen Group represents the type of franchise we are committed to further investing in for the long term.”
“This partnership with Hightower will be instrumental to the next phase of our growth,” Bahnsen, TBG’s Founder and Managing Partner, said in the news release.
He added, “Taking this next step reflects our shared long-term vision. With deeper integration across Hightower, we are well positioned to continue investing in our team and pursuing both organic growth and strategic opportunities. This venture leverages the strengths of each party to the benefit of our clients.”
“We continue to see a healthy pipeline of opportunities and expect to remain selective as we evaluate potential partnerships throughout 2026,” the spokesperson said Thursday, noting TBG “will not be joining Hightower Signature Wealth as part of this transaction.”
Hightower announced the launch of Hightower Signature Wealth, its national direct-to-consumer advisory practice, in October. In January, it announced that advisory practices Fairport Wealth, Hightower Wealth Advisors | St. Louis, HT|TC Wealth Partners, RDM Financial Group and The Rikoon Group joined the Signature Wealth platform. In March, Hightower added Journey Strategic Wealth into Hightower Signature Wealth, followed by Lexington Wealth Management early this month.
“While we can’t share specific figures for this quarter,” the spokesperson said, referring to the total number of acquisitions for the period, “Hightower remains an active and disciplined participant in the M&A market. Our focus is not on volume, but on partnering with high-quality teams where there is strong alignment around client experience, growth mindset, and long-term vision.”
As of Dec. 31, Hightower and its affiliates managed approximately $352 billion in assets, the spokesperson said.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
