Hightower moves $380M Clarity Point into Signature Wealth

Hightower Advisors is moving Clarity Point Financial Partners, a Marlton, N.J., practice with about $380 million in assets, into Hightower Signature Wealth, InvestmentNews reported Nov. 12.

Clarity Point has been a Hightower affiliate since 2017, and the move follows similar additions. In September, Hightower moved the $1.6 billion Boston Hill Advisors of North Andover, Mass., onto the platform and agreed to acquire Sandy Cove Advisors, a Hingham, Mass., firm managing about $752 million. Synergy Capital Solutions, a Bloomfield Hills, Mich., practice with roughly $1 billion, followed in October. Earlier this month, as Private Wealth Daily previously reported, Altium Wealth of Purchase, N.Y., with more than $9 billion, joined the channel.

Hightower said that with Clarity Point included, the channel has approximately $50 billion in assets under management as of Sept. 30, more than 170 advisors and 47 locations.

Managing directors and partners Jim Ewing and Michael Cona lead the Clarity Point team, which serves executives, business owners, professionals and multigenerational families, and advises employers on workplace retirement plans. Cona said that “having more investment and operational support will help us to more proactively advise and implement recommendations as clients’ lives evolve over time.”

Echelon Partners' third-quarter RIA M&A report counted seven Hightower transactions in the quarter, adding about $10.1 billion in assets. Four of the seven converted existing affiliates into Signature Wealth's W-2 model. Only Wealth Enhancement Group, with nine deals, did more.

For an RIA owner reading these deals as pricing evidence, a conversion offers no third-party sale price to benchmark against.