The famous Dr. Margaret Towle is moving her $1 billion book and longstanding advocacy of the CIMA and CPWA certifications to HighTower Advisors.
Towle used to run $1 billion in client accounts at Pittsburgh-based Greycourt. Losing her will knock about 11% out of that firm's overall AUM and eliminate its presence in Seattle and Minnesota.
Her $1 billion will take HighTower up to around $21 billion in client assets.
She built her franchise in Northern Trust's Seattle office, so to say she knows a lot about institutional and ultra-high-net-worth clientele would be underestimating it.
Industry watchers might know her best for her commitment to the Investment Management Consultants Association (IMCA) and the relatively new CIMA and CPWA certs.
She herself holds a CPWA designation -- certified private wealth advisor -- as well as a doctorate.