HighTower Expands Firm with Several New Teams

HighTower, a financial services firm serving high-net-worth (HNW) clients, has added several advisory teams across the U.S.

The firm launched in December (see “Adviser-Owned National Investment Advisory Firm Launches), marketing as the first advisory-owned financial services firm serving HNW individuals.

These new adviser teams join HighTower from global investment firms including UBS, Merrill Lynch, Morgan Stanley, Bear Stearns/JPM, and Goldman Sachs.

According to a release, the Chicago-based HighTower will be adding new advisory teams in the following offices:

  • Chicago: Larry Gilbert, formerly of Goldman Sachs;
  • Indiana: Tim Scannell, previously an independent adviser;
  • Michigan: Blair Anderson, previously with UBS;
  • New York: Richard Saperstein, formerly of Bear Stearns/J.P. Morgan, and Michael Bapis, formerly of Morgan Stanley;
  • Utah: Nick Bapis, formerly of Morgan Stanley, will lead HighTower’s Salt Lake City office along with Alethia Bapis Chatzis;
  • Florida: HighTower opened an office in Palm Beach, Florida, with two new advisers, Curt Lyman, previously with Lehman Brothers, and David Wisehaupt, formerly at Merrill Lynch.
  • California: Todd Lyon, formerly of Morgan Stanley.

HighTower said it is continuing to expand its presence in the Midwest, East Coast, and California.

“Our advisers want the freedom of independence and the benefits of ownership without the distractions or risks of running their own business,’ said Elliot Weissbluth, HighTower’s CEO, in the release. “It’s the best of both worlds.’