Hightower Adds $2.5B Stearns Financial Group to Signature Wealth

Hightower Advisors has added Stearns Financial Group to Hightower Signature Wealth (HTSW), bringing approximately $2.5 billion in assets under management and 30 team members to the platform, according to the company.

Stearns Financial Group, which has offices in Greensboro and Chapel Hill, N.C., has provided financial planning services since 1991 and first partnered with Hightower in 2020. As part of Hightower Signature Wealth, the firm will gain access to expanded operational and investment capabilities through Hightower’s platform, according to the firm.

“SFG has been a valued part of the Hightower community for several years, making this a natural next step in our relationship,” said Larry Restieri, chief executive officer of Hightower. “We are proud to welcome the team to HTSW and help them build on the trusted client relationships they have fostered for more than three decades.”

Dennis Stearns, founding partner and senior wealth adviser at Stearns Financial Group, said the firm has focused on personalized financial planning since its founding more than 35 years ago. John Thomas, managing partner and senior wealth adviser, said the move will let the team streamline operations and focus more on clients.

The addition follows a run of acquisitions into Hightower Signature Wealth this year. In July, AltsWire reported the platform added Private Vista, Hightower Great Lakes and The McGuirk & De Nevi Group in a combined $5 billion deal, and Hightower separately agreed in April to acquire The Bahnsen Group, a $9.5 billion affiliated registered investment adviser. Following the Stearns Financial Group addition, Hightower Signature Wealth has approximately $40 billion in AUM, more than 160 advisers and more than 35 locations nationwide as of June 30, according to the company. Hightower said it expects to announce additional Signature Wealth acquisitions before year-end.

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