CHICAGO, March 25, 2013 /PRNewswire/ -- HighTower, the nation's first advisor-owned financial services firm serving wealthy families and institutional clients, announces that MK Wealth Management, a leading advisory team on Long Island, is joining the HighTower partnership. MK Wealth Management's principal, Mark Kravietz, who has more than 25 years of experience in the financial services sector, is joining HighTower as Partner and Managing Director. This is the 10th new advisor team to join Hightower in the past year and the 37th team to enter into the HighTower partnership since inception.
MK Wealth Management, based in Melville, New York, has established itself as one of the top advisor teams on Long Island, with a focus on educating and empowering clients to make thoughtful financial decisions. Mr. Kravietz, who holds CFP™ certification and CIMA® designation from the Wharton School of Business, manages $300 million in assets for affluent families, individual clients, closely-held businesses and non-profit organizations that rely upon his expertise in financial planning; asset allocation; liability and estate planning; and portfolio construction.
"We're executing right on plan for 2013," said Mike Papedis, Executive Vice President of HighTower. "Mark and his team will benefit from our newly formed partner development team headed by Michael Parker, National Director of the HighTower Partnership. We recently re-aligned our internal resources, which will allow me to focus on expanding into two new lines of business: the HighTower Network and HighTower Alliance. We're seeing great interest in both of those solutions. Our goal is to be the destination of choice—the OmniChannel—for all wirehouse advisors seeking independence."
Prior to joining HighTower, Mr. Kravietz, who received his B.S. degree in Business from the State University of New York at Albany, was with UBS Financial Services, where he was a member of the exclusive Global Circle of Excellence. He is a founding member of the Long Island Association for Financial Education, a member of the Investment Management Consultants Association (IMCA), a founding member of the National Association of Financial Advisors and a founding Registered Player Financial Advisor to the National Football League Players Association.
"As an independent-minded advisor within a rapidly evolving industry, I wanted to join a company that serves its clients as true fiduciaries," said Mr. Kravietz. "In addition, I was seeking a firm that offered innovative, sophisticated investment solutions and technology. HighTower offers multiple points of entry into the marketplace and has leveraged the competitive power of Wall Street to ensure that it benefits our clients. These competitive advantages make the partnership an excellent fit for my team."
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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.