HighTower Adds Two New Advisor Teams From Merrill Lynch With Combined AUM Of $800M
CHICAGO, Sept. 4, 2012 /PRNewswire/ -- HighTower, the nation's first advisor-owned financial services firm serving wealthy families and institutional clients, announces that two advisory teams in Las Vegas, Anderson & Delutri and MNA Group, have joined the HighTower partnership. The teams will work out of HighTower's newly opened office in Las Vegas.
MNA Group and Anderson & Delutri are the 9th and 10th teams to join HighTower in 2012, and the 34th and 35th teams to enter into the HighTower partnership since its inception. They were previously part of Bank of America Merrill Lynch.
"These are two of the best advisor teams in this region, who both came to the same conclusion that HighTower is the future of the financial services industry, and they would be able to serve their clients as true fiduciaries by joining our partnership," said Mike Papedis, Executive Vice President of Business Development at HighTower. "Teams such as these are the linchpin of our continued growth as HighTower expands into new markets."
The principals of Anderson & Delutri – Hugh Anderson and Sheila Delutri – each spent more than 30 years at Merrill Lynch. They manage $450 million in assets and offer holistic wealth management, including intergenerational asset management services, to affluent families.
"We hold our commitment to serve as the chief financial officer of every family we work with in the absolute highest regard," said Mr. Anderson. "HighTower has not only restored the fiduciary relationship between advisors and clients, but they have leveraged the competitive power of Wall Street to ensure that it benefits our clients."
The principals of MNA Group – Mike PeQueen, CFA, CFP®; Ned Evans, CRPC; and Adam Thurgood, CFA – have a combined 60 years of experience in the financial services industry. They joined Merrill Lynch in 2002 after working for Prudential Securities. The team manages $340 million in assets and primarily serves clients with between $2 million and $5 million in investable assets. MNA Group's proprietary investment management process focuses on risk-adjusted returns when constructing and managing client portfolios.
"After experiencing the strength and talent of HighTower's people and the dynamic culture where advisors are truly partners in the success of the firm and its clients, it became abundantly clear that HighTower provided the independence and enterprise support that would not be possible on our own," said Mr. PeQueen.
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HighTower is a national, advisor-owned financial services company serving high-net-worth and institutional clients. HighTower advisors are experienced investment professionals with large and established practices. As a dually-registered, multi-custodial firm, HighTower provides sophisticated investment solutions as well as an independent and unobstructed view of the markets. The company is headquartered in Chicago and maintains corporate centers in New York and San Francisco and offices across the country. See www.hightoweradvisors.com.