Journey Strategic Wealth

What Journey Strategic Wealth does

Journey Strategic Wealth was a hybrid Registered Investment Advisor (RIA) founded in 2021 by Penny Phillips (alongside co-founders Damian Lo Basso and Michael Brown) that delivered personalized wealth management, financial planning, and investment advisory services to approximately 1,000 high-net-worth individuals and families. The firm operated from its headquarters in Summit, New Jersey, with additional offices in California and Virginia, supported by a team of 24 employees including 16 advisors. At the time of its acquisition, Journey managed approximately $5 billion in assets under management (AUM), placing it in the upper tier of mid-market hybrid RIAs by AUM scale relative to headcount.

The firm's core offering encompassed comprehensive wealth management — financial planning, investment management, estate planning support, and tax preparation services — delivered through an advisor-led hybrid model in which advisors retained control over their books and client relationships while gaining access to institutional scale benefits. Revenue was generated through recurring AUM-based advisory fees (with possible flat financial planning fees), characteristic of the subscription/recurring revenue model typical of RIAs. The firm did not disclose proprietary technology, AI capabilities, or a dedicated consumer application; its competitive differentiation rested on advisor relationships, personalized service, and fiduciary standing as a registered investment advisor.

In March 2026, Journey Strategic Wealth was acquired by Hightower Advisors and integrated into its Hightower Signature Wealth unit, marking Hightower's first external acquisition. Following the transaction, Journey's advisors became Hightower employees while retaining autonomy over their books and client relationships, and the firm now operates as part of Hightower's strategy to build an integrated national RIA platform.

Name

Journey Strategic Wealth

Legal name

Journey Strategic Wealth LLC

Website

https://journeysw.com

Company type

Private

Founded year

2021

Operating status

Acquired

Headcount range

11–50 employees

Short description

Journey Strategic Wealth is a hybrid RIA that delivers personalized wealth management, financial planning, and investment advisory services to roughly 1,000 high-net-worth clients, managing about $5 billion in AUM across offices in New Jersey, California, and Virginia. Acquired by Hightower Advisors in March 2026.

Ownership category

akta.pro rank

Product category

Wealth Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)

SIC

Investment Advice (6282)

akta.pro primary industry

Financial Planning–Led RIAs (FSAAACAB)

akta.pro secondary industries

Registered Investment Advisor (RIA) Wealth Management (FSAEABAA), Family Wealth & Multi-Generational Planning RIAs (HNW/UHNW-lite) (FSAAACAH), Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE)

Keywords

• Wealth management services
• Investment advisory
• Financial planning
• Portfolio management
• Registered investment advisor

Headquarters

HQ city

Summit

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Wealth Management Services: As a registered investment advisor, Journey Strategic Wealth generated revenue through wealth management fees, likely including AUM-based advisory fees and financial planning services.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Journey Strategic Wealth is a hybrid registered investment advisor (RIA) that delivers comprehensive wealth management services to high-net-worth individuals and families. The firm provides personalized financial planning, investment advisory, and portfolio management services, managing approximately $5 billion in assets under management for nearly 1,000 clients through a team of 16 advisors.

Product overview

Journey Strategic Wealth operates as a hybrid registered investment advisor (RIA) offering personalized wealth management services. The firm provides financial planning, investment management, and advisory services to approximately 1,000 clients, serving them through a team of 16 advisors across its locations in Summit, NJ, California, and Virginia. Founded in 2021 by Penny Phillips, the firm manages $5 billion in assets under management.

Differentiator

Problem solved

Functional benefit

Products and services

• Wealth Management Services Comprehensive wealth management services for high-net-worth individuals and families, including financial planning, investment advisory, and portfolio management tailored to individual client needs, with approximately $5 billion in assets under management.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Hightower AdvisorscoreStrategic or Co-development Partner · 1 March 2026Journey Strategic Wealth joined Hightower Advisors' Signature Wealth unit in March 2026 as Hightower's first external acquisition. The $5 billion RIA became part of Hightower's strategy to build an integrated national RIA model. Journey's advisors became employees while retaining control over their books and client relationships.

Scale indicators3 records

Recent moves5 records

Expansion highlights3 records

Direct peers

• Creative Planning: Fee-only RIA providing financial planning and investment advisory to HNW households nationwide; comparable in AUM scale trajectory, recurring fee model, and comprehensive wealth planning offering.
• Edelman Financial Engines: Large RIA combining traditional advisor-led planning with digital/direct-to-consumer tools for HNW and mass-affluent clients; comparable as a hybrid advice platform competing for the same household wealth relationships.
• Wealth Enhancement Group: Independent wealth management firm delivering financial planning and investment management to HNW households, built largely via advisor acquisitions — directly comparable in growth-by-acquisition strategy.
• Sanctuary Wealth: Wealth management platform partnering with high-producing advisors and providing HNW-focused planning and investment services — comparable as a hybrid, advisor-led RIA platform.
• Mariner Wealth Advisors: Large independent RIA offering comprehensive financial planning, investment management, and tax/estate services to HNW individuals and families — directly comparable in service mix and client segment to Journey.
• Carson Group: Hybrid RIA and coaching/technology platform serving advisors and their HNW clients with financial planning and investment services; comparable in hybrid model and HNW family focus.

Broad incumbents

• Hightower Advisors: National RIA and wealth management platform that acquired Journey Strategic Wealth; directly comparable as a multi-billion-dollar RIA aggregator serving HNW clients with a hybrid advisor partnership model.
• Focus Financial Partners: RIA aggregator partnering with advisor-led wealth management firms; comparable to Hightower's model and the broader ecosystem in which Journey competes for talent and acquisitions.
• LPL Financial: Largest independent broker-dealer/RIA custodian serving thousands of advisors and their HNW clients; relevant as the infrastructure backbone many hybrid RIAs operate on and a key competitive benchmark.
• Cetera Financial Group: Wealth management hub supporting independent advisors and RIAs with planning, investment, and technology infrastructure — comparable as a hybrid RIA/brokerage platform serving similar advisor and HNW client profiles.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Journey Strategic Wealth