The Year Of HighTower: From Wirehouse To Independence Hot

Registered Rep has a nice profile on the firm that went from obscurity to $20 billion in AUM last year.

Part of the draw is HighTower's scope. It's already a national network that gives wirehouse defectors something of the "thick envelope" support they've come to expect.

The hybrid RIA/BD model is also a good set of training wheels for those looking to transition from transaction-based to fee-based business.

Everyone's looking to scale up in 2012. The question is how truly independent advisory firms will position themselves to compete with emerging national brands like HighTower.

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