On August 20, 2019, HighTower Advisors announced an agreement to make a strategic investment in Lexington Wealth Management.
Under the terms of the agreement, HighTower Advisors (“HighTower”) will make a strategic investment in Lexington Wealth Management (“Lexington”). Terms of the deal were not disclosed. The transaction is subject to regulatory approval and other customary closing conditions, but is expected to close in the third quarter of 2019.
Lexington is a Massachusetts-based advisory group that provides wealth management services to professionals, entrepreneurs, high-net-worth individuals and families. It has $1 billion in assets under advisement. Lexington was advised in the transaction by Raymond James | Silver Lane Advisors.
HighTower is a wealth management firm that provides financial, investment and retirement planning services to foundations, individuals and family offices. HighTower oversees approximately $70.3 billion in total client assets as of June 30, 2019.
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