Hightower and Summit, two of the most active acquirers in the RIA space, made simultaneous strides in their growth plans Thursday as they each welcomed new strategic partners.
In Colorado, Hightower announced its investment in Dechtman Wealth Management, a Denver-based RIA managing $800 million in client assets. Led by founder Jordan Dechtman and his sons, Sam and Adam, the eight-person team offers comprehensive financial services, including retirement income planning, tax and estate planning, and Social Security analysis.
“Dechtman Wealth Management has a strong and long-standing reputation in Denver for putting its clients’ needs first with comprehensive and personally tailored financial plans,” Hightower Chairman and CEO Bob Oros said in a statement.
Oros also underscored Dechtman's "next generation leaders" and their "strong understanding of digital marketing" as a valuable differentiator for the firm.
This marks Hightower’s sixth strategic investment of 2024, further expanding its network of 140 advisory businesses across 35 states and the District of Columbia. As of June 30, the firm reported $156 billion in assets under management.
“Joining Hightower will enable our team to continue operating [according to our core principles] and provide access to a host of additional tools and services to help benefit our community,” said Jordan Dechtman, founder and senior wealth manager at Dechtman Wealth Management.
Separately, Summit Financial announced a deal to integrate Midway Wealth Partners, a Chicagoland-based firm managing $550 million in assets, into its network.
This marks Summit’s 17th strategic investment of the year through its partnership model, Summit Growth Partners, which most recently in November secured minority, non-controlling stakes in three firms across North Carolina, Wisconsin, and the Tri-State area.
Midway’s team, led by Richard Babjak and Dennis Ryan, will retain its leadership and core team, with a focus on personalized wealth management services, including business transition planning and trust and estate tax strategies.
“Partnering with Summit marks a pivotal moment in our growth, enabling us to deepen relationships with clients and help them achieve their financial goals in new and meaningful ways,” Babjak said Thursday.
Summit’s CEO, Stan Gregor, emphasized the alignment between the two organizations. “Richard, Dennis and the entire Midway team embody the entrepreneurial excellence we seek, delivering personalized financial solutions that go beyond asset management and forge long-lasting relationships,” he said.
Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.
Two C-level leaders reveal the new time-saving tools they've implemented and what advisors are doing with their newly freed-up hours.
The RIA led by Merrill Lynch veteran John Thiel is helping its advisors take part in the growing trend toward fee-based annuities.
Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.
The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
