Hightower Advisors on Tuesday named Larry Restieri as its new chief executive officer, succeeding former leader Bob Oros.
Effective spring 2025, Restieri will also serve as a member of the firm’s board of directors while Oros will remain on the board to ensure a smooth transition.
Restieri most recently served as CEO of AYCO, a division of Goldman Sachs specializing in workplace financial planning and private wealth advisory services. Prior to his time at AYCO, Restieri worked at Goldman Sachs for over two decades in its wealth and asset management side.
Hightower says the transition is coincided with the firm’s next phase of growth and will build upon the expansion seen during Oros’ leadership. Oros, who was named CEO of Hightower in 2019, oversaw 50 merger and acquisition (M&A) transactions. This includes the acquisition of NEPC, an investment consultant and outsourced chief investment officer whose addition last year ballooned the firm’s assets under advisement (AUA) by over $50 billion.
“I am honored and excited to join Hightower at this pivotal moment,” said Restieri. “Under Bob’s leadership, the firm has built an incredible reputation as a leading partner for independent advisors, providing them with the tools and resources needed to succeed. I look forward to working with the talented Hightower team, our advisors, and the Board, including Bob.”
“Larry is an exceptional leader who brings deep familiarity with the wealth management landscape and a strong commitment to serving advisors and their clients,” said Oros. “I am incredibly proud of the progress we’ve made at Hightower over the past six years, and I have full confidence that under Larry’s leadership, the firm will continue to thrive. I look forward to supporting him and the Hightower team as a board member and advisor.”
Hightower, a Chicago-based registered investment advisor (RIA) with services in investment, financial, and retirement planning, as well as 401(k) consulting to corporations, holds $1.8 trillion in AUA.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
