Hightower Advisors has agreed to acquire Journey Strategic Wealth in a deal that will add about $5 billion in assets under management to its Hightower Signature Wealth platform, marking the first external acquisition for the W-2 advisor channel.
The Chicago-based wealth management firm said the transaction will expand the platform’s national footprint and enhance its capabilities for both advisors and clients. Upon closing, Hightower Signature Wealth is expected to represent more than $25 billion in assets under management across 27 locations. The deal is anticipated to close at the end of the month.
Journey Strategic Wealth was founded and is led by Penny Phillips. The firm has 24 professionals, including 16 advisors, and serves nearly 1,000 clients. As part of the integration, Phillips will assume an expanded role as head of advisor strategy and client experience at Hightower Signature Wealth.
Hightower said the acquisition reflects its continued investment in building the Signature Wealth platform, which supports both external advisors and members of the firm’s broader community in enhancing the client experience. The firm added five advisory practices to the division in January and expects to announce additional acquisitions for the platform in the first half of 2026.
Founded as a client-focused advisory firm, Journey Strategic Wealth will continue serving clients while gaining access to additional resources and expanded capabilities through Hightower. The combined platform will provide broader services including tax preparation, trust and estate planning, and access to public and private markets.
Hightower’s advisor network currently includes 648 advisors operating across 33 states and the District of Columbia. As of December 31, 2025, Hightower and its affiliates managed approximately $353.7 billion in assets.
Support: Dalphia Partners served as financial advisor and Seward & Kissel served as legal counsel to Journey Strategic Wealth in connection with the transaction.
KEY QUOTE:
“Under Penny’s leadership, Journey has built a highly respected advisory business defined by incredible talent, consistent organic growth, and a clear client-first culture—all closely aligned with what we have built at Hightower Signature Wealth. As we continue to be a destination for advisors who want to scale thoughtfully, Penny will play an instrumental role in shaping advisor strategy and experience.”
Larry Restieri, CEO Of Hightower Advisors
“The future of wealth management belongs to firms that deliver personalization at scale, comprehensive services, and an integrated client experience. The expansion of HTSW brings together entrepreneurial leadership and enterprise resources, enhancing our ability to support advisors and serve clients. Through expanded capabilities—including tax preparation, trust and estate planning, and access to public and private markets—we are well positioned to deepen client relationships and support long-term growth.”
Penny Phillips, Founder Of Journey Strategic Wealth And Incoming Head Of Advisor Strategy And Client Experience At Hightower Signature Wealth
