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Open-Source's HighTower Announces New Hires

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November 30, 2009

Open-Source's HighTower Announces New Hires

By David Sims
TMCnet Contributing Editor

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Chicago-based HighTowers, an advisor-owned financial services firm described by company officials as serving "high net worth clients," reportedly announced that it has "deepened" its open-source platform and services with the addition of new international capabilities and advisory talent.



Elliot S. Weissbluth, HighTower's CEO, said the open-source model of financial services firms "allows concurrent input of multiple clearing firms and multiple custodians and significantly differs from the closed, centralized models of product distribution and unified platforms."

HighTower expanded its international advisory talent by adding Matthias Paul Kuhlmey, formerly of UBS, to the firm. HighTower officials said Kuhlmey was chosen for his international expertise and "nearly 20 years of experience serving ultra high net worth private clients who reside overseas."  His expertise includes buying and selling of foreign ordinaries. This lets clients who seek to buy and hold foreign equities not listed on U.S. exchanges to do so within the respective foreign currency.

"Investors are seeking increasingly sophisticated financial services and counsel," Kuhlmey, managing director, HighTower, said in a statement. "HighTower sets a new bar for offering a comprehensive and product-agnostic platform that enables advisors to tap an incredibly wide range of products, capabilities and unique opportunities. I look forward to joining this impressive partnership of talent and innovative thinking."

HighTower has announced that Christopher Towle Davis joined the company. Davis has wealth management experience, specializing in advising foundations, endowments, faith-based institutions, and nonprofit organizations.

In September, the company expanded its global research expertise with the appointment of economists Martin Eichenbaum and Sergio Rebelo as chief economic advisors.

"At HighTower, we're defined by our advisors," Weissbluth says. HighTower is headquartered in Chicago and maintains corporate centers in New York and San Francisco and offices around the country.
 
HighTower Advisors  launched Last December, which company officials described at the time as "a new investment advisory firm that is reinventing the model of today's financial advisory business by becoming the first advisor-owned, nationally branded, fiduciary financial services firm dedicated to serving high net worth investors."


David Sims is a contributing editor for TMCnet. To read more of David’s articles, please visit his columnist page. He also blogs for TMCnet here.

Edited by Amy Tierney


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