Hightower, a Chicago-based national wealth management firm, has signed a definitive agreement to acquire The Bahnsen Group, one of its flagship franchise practices, which oversees approximately $9.5 billion in assets under management as of December 31, 2025. The transaction is expected to close in the third quarter. Financial terms were not disclosed.
Founded in 2015 when David Bahnsen joined Hightower as a lift-out from Morgan Stanley with approximately $600 million in client assets and eight team members, The Bahnsen Group has grown to nearly $10 billion in AUM, driven by approximately 31% annual organic growth over more than a decade. The practice now operates across twelve locations in key markets including Newport Beach, California; New York; Nashville, Tennessee; and Palm Beach, Florida, supported by a team of approximately 100 professionals. The Bahnsen Group serves high-net-worth individuals, families, and institutions with a differentiated focus on dividend growth equity investing, and is also known for its thought leadership and content creation.
As part of the transaction, The Bahnsen Group will more deeply integrate with Hightower’s platform across technology, operations, compliance, wealth solutions, and advisor services, enhancing scalability and supporting both organic growth and inorganic expansion. The practice will continue to operate under its established brand while adding “A Hightower Company” to its name and logo. Hightower intends for The Bahnsen Group to serve as a hub within its network for integrating additional like-minded advisory teams.
The deal is the latest in a series of moves by Hightower. Earlier this month, the firm announced the acquisition of Lexington Wealth Management, which manages approximately $3.2 billion in assets, into its Hightower Signature Wealth division. In March, Hightower added Journey Strategic Wealth, which manages approximately $5 billion, as its first external acquisition into that same division. Hightower also recently appointed Roberto Stewart as President and Chief Business Officer to lead enterprise services and advance its back and middle-office platform.
KEY QUOTES:
“This is a natural evolution of a highly successful partnership. 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.”
“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.”
Larry Restieri, Chief Executive Officer, Hightower
“This partnership with Hightower will be instrumental to the next phase of our growth. 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.”
David Bahnsen, Founder and Managing Partner, The Bahnsen Group
