News, Vision & Voice for the Advisory Community


HighTower stages its first raid of Morgan Stanley Smith Barney's elite consulting unit

A famous loyalist, Jim Pupillo crusaded for years to bring about change internally at Smith Barney before finally defecting

Author Brooke Southall January 24, 2012 at 5:52 AM
no description available
Jim Pupillo: I looked at several vendor platforms to support us if we went completely independent.

Breakaway Stories

Brooke Southall

Brooke Southall

August 3, 2012 — 12:02 AM

AZpro…I am eliminating the comment you left because it has more of an axe-to-grind flavor than an intellectual viewpoint.


John Smith

John Smith

April 6, 2013 — 3:52 PM

There will always be a conflict of providing fiduciary standards within a suitability environment. Hopefully this is a signal of more advisors seeking to level the playing field for their client…offering advice and services which are in the best interest of the client rather than the inevitable conflict of trying to serve two (at least) masters. I’ve always thought this business was about the asset owner and not the advisor…perhaps this gentleman feels the same way and time will tell if a Hightower or whoever is willing/ able to support a fiduciary approach.

Stephen Winks

Stephen Winks

April 7, 2013 — 8:31 PM

John Smith,

You are absolutely correct. providing advice is all about the consumer as the consumer determines relevancy. The same reason why cients want their broker to act in their best intererst is why brokers can not compete. Boker dealerswill not acknowledge the broker renders advice or has a fiduciary duty to act in the best interest of the investing public Bcause by design the broker is not accountable nor has ongoing responsibility for their recommendations, the advisor can routinely do an asset/liability study on all a client’s holdings and find the prospective client’s portfolio has assumed twice the market risk for half the return, there is no rhyme or reason for individual holdings, there is no understanding of cost structure leading to the highest cost investment alternatives, the tax structure of the portfolio has crippled portfolio liquidity and investment performance. There are easily 20 or 30 ways an advisor can materially improve the prospective client’s well being.

Brokers of good conscience have begged their broker/dealer to support their fiduciary standing. Even an Act of Congress has not moved the broker/dealer. The only choice is to seek better support elsewhere.

This is a failure of industry leadership.

Very sad.




June 26, 2014 — 1:33 PM

Even though several properties in the UAE are experiencing design delays, it truly is checked in with Angela Giuffrida, a home reporter below to the organization desk, and he or she thinks the iPad undertaking may be going ahead.Apple iPad Keyboard Dock



June 26, 2014 — 3:06 PM

John Paduchak is admittedly a overall health investigator along with the web site owner of and created to help mother and father and people with ADD/Attention deficit hyperactivity disorder come across purely natural treatment plans & information to enhance their lives. John has Focus deficit hyperactivity disorder and it is actually a parent or gaurdian of two youngsters with ADD/Attention deficit hyperactivity disorder. Certainly just one of his young ones Consideration deficit hyperactivity disorder indicators and signs or symptoms have been so serious it forced him to entire continual investigation about them and share it with everybody who could possibly make the most from the effort from the sites.The Nice And Cozy Welcome For iPad2

Related Moves

August 15, 2019 at 7:58 PM

New-look Hightower hires Abby Salameh and takes a 'Hurley-style' stake in a $4.8 billion DFA RIA

The Chicago roll-up gets a chief marketing officer who gets RIAs as it becomes part-Dynasty, part- Fiduciary Network in adopting a very 2019 deal structure for LourdMurray

May 3, 2019 at 7:11 PM

Bob Oros starts his CEO life at HighTower Advisors with a town hall meeting and clear authority

The former Fidelity RIA chief now runs his formerly largest RIA client, from Chicago, and with Elliot Weissbluth as chairman, 'inorganic' asset and 'evangelist'

January 8, 2019 at 3:09 AM

Mentioned in this article:

Sr. Consultant
Consulting Firm
Top Executive: Stephen Winks

RIABiz Directory

The Industry Sourcebook for RIAs

   |    LISTING

RIABiz Directory sponsored by:

Directory Sponsor Logo

White Paper Postings

Common Tags

Recent Articles

Popular Writers

RIABiz logo


About Us




RIABiz, Mill Valley, California
Copyright © 2009-2024 RIABiz Inc. All rights reserved.