Hightower Facilitates a Sub-Acquisition for Lexington Wealth Management

Lexington’s addition of Marcus Financial Advisors, with $200 million in client assets, will bring Lexington’s total assets under administration to $1.5 billion.

CHICAGO. – Jan. 12, 2021 – Hightower today announced that its mergers & acquisitions team has facilitated a sub-acquisition for Lexington Wealth Management, a Hightower advisory business in Lexington, Mass. Advisor Jon Marcus of Marcus Financial Advisors in Beverly, Mass., which has $200 million in assets under administration (AUA), will join Lexington’s growing business of wealth management professionals.

The addition of Marcus Financial Advisors will bring Lexington’s total client assets to $1.5 billion. Mr. Marcus, who serves entrepreneurs, business owners and high net worth families and individuals, joins Lexington as a Senior Wealth Advisor and will serve on the investment committee. Including Mr. Marcus and his staff, Lexington now has 20 employees, including 13 advisors.

Founded in 2000 by Michael Tucci and Kristine Porcaro, Lexington helps entrepreneurs, executives, professionals, women, high-net-worth individuals and families navigate their financial lives, including the emotional aspects of financial decision-making. Prior to joining Lexington, Mr. Marcus spent 6 years managing Marcus Financial Advisors under the affiliation model of Raymond James.

“We are delighted to welcome Jon and his team into the Lexington family,” said Tucci. “Jon’s client-first approach and deep knowledge in planning and investments will be an incredible asset to our business and firm culture. He has accomplished so much at such a young age, and we are excited to have him on our team,” added Porcaro.

“Lexington and Hightower’s collaborative environment, wide-ranging resources and positive, attentive culture will enable me to better serve the ever-evolving needs of my clients,” said Mr. Marcus. “I am so excited to join Lexington and look forward to integrating into this vibrant community.”

Hightower’s M&A team provides Hightower advisors with a range of inorganic growth services, including sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources.

“One of Lexington’s objectives when it joined the Hightower community was to add talent and expand its presence in the region. Just one year since joining, the addition of Mr. Marcus is a realization of that goal,” said Scott Holsopple, Hightower’s Chief Growth Officer. “We are pleased to have provided Lexington with our M&A team’s experience sourcing, evaluating and structuring transactions to create a larger entity that is poised to expand in the Boston area and beyond.”

Hightower has 114 advisory businesses in 33 states. As of Sep. 30, 2020, the firm’s assets under administration (AUA) were approximately $81.4 billion and its assets under management were $61.6 billion.

About Hightower

Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower’s capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of “well-th. rebalanced.” Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower’s collaborative business model at www.hightoweradvisors.com.

Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.

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Patty Buchanan

JConnelly

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