Hightower Advisors, LLC is a large advisory firm based in Chicago. It manages $48.07 billion of regulatory assets for 88,388 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.
Hightower Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and treasury management for corporate clients. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Hightower Advisors, LLC is $48.07 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 20128% since the beginning of its operation, and $200 million of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Hightower Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Daniel Baruch Lidawer is high net worth individuals with 8,078 clients and $31.51 billion of assets under management. Among the 11 most similar advisory firms, Hightower Advisors has the highest percentage of high net worth individuals out of all clients.
The amount of regulatory assets under management is $48.07 billion for 88,388 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.
Hightower Advisors also advises several private funds. Namely, three hedge funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $1,000,000.
The company employs 566 people that are either part- or full-time employees. 61 percent of the employees work as investment advisers or researchers. 344 employees are registered as investment adviser representatives with the state securities authorities.
There are 66 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.
Daniel Baruch Lidawer has been acting as President since 1 Dec 2012. Michelle Marie Thetford joined the executive team most recently as the Chief Operating Officer.
The principal office where Hightower Advisors, LLC performs its advisory services is located at 200 W. Madison St., Chicago, IL 60606, which is also the mailing address of the firm. An additional office of the firm is in Boca Raton, FL. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 312-962-3800 or by fax 312-276-8341. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at hightoweradvisors.com and its LinkedIn profile.