Elliot Weissbluth pooh-poohs the idea that HighTower faces channel conflict as 'stupid and uninformed'
The roll-up has added franchise- and outsource-type channels in the wake of a capital raise that failed to materialize
Related Moves
Elliot S. Weissbluth, Hightower Advisors mastermind, cashes out and vacates chairman role as Pershing's ex-CEO Lisa Dolly takes a board seat
The Chicago rollup's founder got paid better by doing the second-stage exit and the new cast on the Board also includes Bob Oros ascending to chair and Darrell Horn of Green Square Wealth Management joining
February 19, 2021 at 8:58 PM
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
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
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
Diamond Consultants
Recruiter
Top Executive: Mindy Diamond
Dynasty Financial Partners LLC
Specialized Breakaway Service, Mergers and Acquisition Firm, RIA Set-up Firm
Top Executive: Shirl Penney
Jeff Spears
HighTower has definitely established a solid brand. However, brand extensions can be difficult.
http://www.businessinsider.com/the-10-worst-brand-extensions-2013-2#youve-seen-bad-brand-extensions-11
Stephen Winks
Remember when Raymond James the Florida regional brokerage was disparaged when it leveraged it overhead to provide unprecedented support to independent brokers at its IM&R affiliate, now Raymond James Advisors? conventional brokerage firms wondered how could independent brokers compete with full service brokers? Of course independents free to compete, competed very favorably and eventually based on personal initiative evolved towards advisory services that eclipsed brokerage services.
Hightower is an important extension of that evolution, in that it is actually in the advice business, not just a back office utility disconnected from a practice’s value proposition, profitability or valuation.. The missing link is unifying prudent process that simplifies advisory services. The Network and Alliance are advisor collaboratives which empower advisors through process to gain control over their value proposition, cost structure, margins and professional standing in ways not possible in a brokerage format. In important ways that United Capital, Focus and Dynasty may not appreciate, in ways independent broker/dealers and wirehouses are not prepared to venture..
If the advisor asks, “Is there a firm that can help one achieving professional standing and maximizing the advisor’s margins and transferable practice value?”. There has been no such firm existent, which requires innovation.. HIghtower may be that firm.
So, be careful in dismissing Hightower in the context of what exists today, as it has introduced two new very intriguing ways for advisors to achieve scale not possible in a brokerage format, to streamline cost, and to facilitate an unprecedented level of investment and administrative counsel presently not supported by a brokerage, roll up, independent or custody format.
SCW
Brooke Southall
Steve,
I think what you’re saying is that this isn’t a garden variety brand extension in that the brand doesn’t need to be extended very far. The brand continues to serve a very similar group of financial advisors with very similar needs and they receive similar services. This is more of a channel add. Channel adds stir things up precisely because they aren’t brand extensions. With multiple channels under one brand, there is tension, real or perceived, that the advisors in each channel are cannibalizing each other’s assets and competing for the same resources.
Brooke
http://skidka4you.ru/user/kopetpddbb/
Firstly, this company’s manufacturer identify is rather crucial to the success of Apple. Apple’s brand marketing and advertising has become among the important thing elements to its accomplishment. A firm’s manufacturer will be the identification it provides to your general public. This company identification performs an essential role in how buyers see a corporation and its merchandise. Intelligent organizations set lots of believed into model management, crafting a brand name character that can draw in customers. As such, a lot of firms while in the computer system field have seemed to Apple like a benchmark for his or her company tactics and insurance policies.
http://www.fsienergy.com/consultingframeset.html
Due to so lots of steps which includes to take place for successful digestion, it is really no surprise that lots of persons have to acquire a digestive supplement to aid keep everything operating effortlessly — and it’s even less complicated to find out why deciding upon the ideal digestive supplement is admittedly critical.
Ron Edde
The “perfect firm” for all advisors has yet to be invented and does not exist, or else every advisor would already be working there. Hightower, however, has followed Wells Fargo and Raymond James in creating a multi-channel platform that has proven to be very attractive to advisors. The “partner” model remains HighTower’s flagship attraction, but the Alliance and Network are growing and offer unique appeal of their own.
