The developments are an example of the M&A and consolidation activity that has become a marked feature of the North American wealth management sector in recent years. 

Chicago-headquartered Hightower said it has made a strategic investment in Boston Hill Advisors, a $1 billion, RIA that is based out of North Andover, Massachusetts. It has three offices in the state.

Founded in 2006 by managing partners, Joseph Trainor, and Michael Edwards, it serves high net worth individuals and institutional clients, primarily in the New England region. Boston Hill Advisors has 17 employees, including eight advisors serving about 1,000 client relationships.

Financial terms weren’t disclosed. 

Hightower has been busy. In early June, it invested into Vigilant Wealth Management, a firm with offices in Portland, Maine and Portsmouth, New Hampshire. (It manages around $2.3 billion in client assets.) In February it invested into Bickling Financial Services, a Lexington, Massachusetts-based registered investment advisor. The developments are an example of the M&A and consolidation activity that has become a marked feature of the North American wealth management sector in recent years.