Hightower Makes Another M&A Move

Editorial Staff

23 May 2025

Chicago-headquartered Hightower has made a “strategic investment” in Smith Anglin, a financial planning and wealth management practice based in Dallas, Texas, with about $2 billion in assets under management.

Founded in 1967, the 34-person Smith Anglin team provides an integrated retirement preparedness and tax preparation experience for the aviation industry.

Smith Anglin marks the second strategic investment for Hightower in 2025. Earlier in May, Hightower invested in Lindbrook Capital, a financial planning and wealth management practice with about $3.8 billion in assets under management and offices in Los Angeles, Calabasas, California, and New York City.

In the latest transaction, Smith Anglin was advised by Berkshire Global Advisors LP and Scheef & Stone, LLP, provided legal counsel. For Hightower, Polsinelli PC provided legal counsel.

The financial terms were not disclosed.

Hightower offers a range of services for accelerating organic growth. Advisory groups that partner with Hightower also receive access to inorganic growth services such as sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions. At the end of 2024, assets under management for Hightower and its affiliates were about $168 billion.

The stakes that Hightower has taken in other wealth management firms is part of a broader M&A narrative that has unfolded in the North American wealth management industry.