Hightower takes stake in $1.7 billion RIA

Hightower, a Chicago-based registered investment adviser, has taken a stake in Argent Wealth Management, a $1.7 billion RIA based in Waltham, Massachusetts. The deal is Hightower’s seventh transaction so far this year, following Tuesday’s announcement that it had taken a stake in North Carolina-based Stearns Financial Group.

Founded in 1992, Argent has 22 employees, including 11 advisers. The transaction, the terms of which were not disclosed, is expected to close in the fourth quarter.

[More: Despite COVID, RIA deals headed for another record year]

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