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HighTower spent at least $100 million to buy the love [and revenues] of its own advisors, a key sign an IPO or sale is taking shape, industry observers say

The Chicago roll-up paid top dollar to get virtually all its partners on board and to keep all dealing on the down low as it completes conversion to RIA roll-up from boutique wirehouse mode

Author By Lisa Shidler June 10, 2019 at 11:20 PM
no description available
Bob Oros: 'We want aligned interest. We want to make sure we're both motivated.'

Bob Oros


Steve Levitt

Jeff Spears

Jeff Spears

June 11, 2019 — 2:01 PM
A few important realities have been answered with this deal. The ownership structure that shares the ownership of the clients is superior. In addition the unconflicted positioning is what clients prefer. Goldman and HighTower understand. Wall Street is holding on to the invented here and cross sell. The market and clients will decide who is correct.
Leslie Snotts

Leslie Snotts

October 1, 2019 — 8:13 PM
Hightower is a bunch of useless turds.

Related Moves

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

A 20-year Merrill Lynch veteran got Sanctuary Wealth to $10 billion in AUA in 15 months with no outside capital and no time in bed: 'Nobody's slept since April'

Jim Dickson also recruited HighTower talent, Amit Dogra, to bring the old HighTower brokerage model and execute it as HighTower veers toward buying RIAs

August 15, 2019 at 7:58 PM

As Bob Oros-led HighTower reboots, it bags an ex-Goldman RIA, hires two, makes a CMO imminent, and clarifies mission

The new CEO will need to somehow weave together the debris of the first roll-up run and the new one to the satisfaction of RIAs and the hundreds of people already inside the HighTower umbrella

March 20, 2019 at 11:32 PM

See more related moves

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