Lexington Wealth Management, a Hightower advisory business based in Lexington, Mass., has acquired Marcus Financial Advisors, a financial services firm in Beverly, Mass., with $200 million in assets under management, Hightower announced today.
The firm's founder, Jon Marcus, will join Lexington Wealth Management as a senior wealth advisor and will sit on the investment committee. Marcus serves entrepreneurs, business owners and high-net-worth families and individuals,
The addition of Marcus Financial Advisors expands Lexington Wealth Management to $1.5 billion in client assets and 20 employees, including 13 financial advisors.
Founded in 2000 by Michael Tucci and Kristine Porcaro, Lexington Wealth Management serves entrepreneurs, executives, professionals, women and high-net-worth individuals and families. Marcus Financial Advisors previously was affiliated with Raymond James.
Hightower says its mergers-and-acquisitions team provides firms with services to achieve inorganic growth. The latest acquisition fits with Lexington's goal to expand its presence in the region, Hightower said.