The Year Of HighTower: From Wirehouse To Independence
- Created: Wednesday, 28 December 2011 09:40
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.