HighTower builds on what is already proving to be a record-breaking year for the expansion of its network.

HighTower has announced that Acacia Wealth Advisors, a boutique multi-family office in Los Angeles overseeing more than $500 million in assets, has joined its partnership, adding to a run of such moves in recent weeks and months.

Acacia co-founders Meloni Hallock and Alev Lewis will continue to lead the team as managing directors and partners of Acacia Wealth Advisors at HighTower.

This is HighTower's eighth transition in 2016, which it said is a record-high number for the first half of any year in the firm's history, and the fourth RIA acquisition since the firm launched that line of business in 2015.

"Our recent momentum in the RIA channel represents a strategic expansion of our business and illustrates how broadly our platform and culture resonate throughout the industry,” Michael Parker, chief development officer at HighTower, said in a statement. 

Acacia Wealth Advisors at HighTower provides investment consulting and financial planning services to entrepreneurs, business owners, high net worth individuals and their families.

In June, HighTower welcomed its first team in St Louis, MO, in a strategic partnership with Archer Wealth Management. Launched in 1983, the team oversees around $400 million in assets and was founded by Barbara Archer, who joined HighTower as a managing director and partner.

In May, Minneapolis, MN-based DSG Wealth Management joined the HighTower community. That team oversees around $315 million in assets and is led by managing director and partner, Denver Gilliand, who previously worked within Merrill Lynch’s private banking and investment group.