Journey Strategic Wealth joins Hightower Advisors to scale services

Penny Phillips, president of the $5 billion RIA, will take on a new role leading advisor strategy and client experience at Hightower's Signature Wealth unit.

Mar. 11, 2026 at 10:08pm

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Journey Strategic Wealth, a $5 billion RIA founded by Penny Phillips, has been acquired by Hightower Advisors. Phillips, the first millennial woman to co-found an RIA "roll-up," will now serve as head of advisor strategy and client experience at Hightower's Signature Wealth division, where Journey's 16 advisors will work as direct employees. The move allows Journey to scale services like tax preparation and estate planning that clients have been seeking, while maintaining a sense of independence for the advisory teams.

Why it matters

The deal highlights the growing trend of independent advisors seeking the resources and capabilities of larger firms, even as they prioritize maintaining control over their businesses. Hightower, a major RIA aggregator, has positioned itself as a destination for advisors who want to scale thoughtfully without sacrificing autonomy.

The details

Journey Strategic Wealth, founded in 2021, has grown rapidly to $5 billion in client assets by adding nine advisory teams. The firm allowed advisors to keep control of their books of business while receiving support with back-office functions. Joining Hightower will give Journey's advisors access to expanded services like tax preparation and estate planning that clients have been requesting, while keeping their entrepreneurial spirit. Hightower, which was founded in 2008 to give former wirehouse advisors greater independence, has been growing its Signature Wealth unit for direct employees, adding five teams in January alone.

  • Journey Strategic Wealth was founded in 2021.
  • Hightower acquired tax specialist GMS Surgent in 2023.
  • Hightower made a majority stake investment in NEPC, an investment consultant, in 2024.
  • Hightower will formally incorporate Journey Strategic Wealth into its Signature Wealth unit at the end of March 2026.

The players

Penny Phillips

The president of Journey Strategic Wealth, who will now take on the role of head of advisor strategy and client experience at Hightower Signature Wealth. Phillips was the first millennial woman to co-found an RIA "roll-up."

Hightower Advisors

A large RIA aggregator that was founded in 2008 to give former wirehouse and brokerage advisors a place to secure greater independence without the hassle of starting their own RIAs.

Journey Strategic Wealth

A $5 billion RIA founded in 2021 that has grown rapidly by adding nine advisory teams. The firm allowed advisors to keep control of their books of business while receiving support with back-office functions.

Hightower Signature Wealth

Hightower's unit for direct employees, which has $25 billion in client assets and added five advisory teams in January 2026.

Larry Restieri

The CEO of Hightower Advisors.

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What they’re saying

“We're almost reverting back to where the industry started with the big firm that had everything there for the advisor. I think it was sort of inevitable to get back here.”

— Penny Phillips, President, Journey Strategic Wealth

“Penny will play an instrumental role as we continue to be a destination for advisors who want to scale thoughtfully.”

— Larry Restieri, CEO, Hightower Advisors

What’s next

Journey Strategic Wealth will be formally incorporated into Hightower's Signature Wealth unit at the end of March 2026.

The takeaway

This deal shows how independent advisory firms are increasingly seeking the resources and capabilities of larger partners, while still prioritizing autonomy. Hightower has positioned itself as a destination for advisors who want to scale their businesses without sacrificing control.