HighTower Continues To Revitalize Baltimore's Boutique Wealth Management Culture
CHICAGO, Feb. 27, 2013 /PRNewswire/-- HighTower, the nation's first advisor-owned financial services firm serving wealthy families and institutional clients, has added Thomas J. New as an Executive Director in its Kelly Wealth Management practice in Baltimore. He joins HighTower from Morgan Stanley, where he was a Senior Vice President and Branch Manager for the firm's Hunt Valley office. Mr. New will draw on his experience as both a financial advisor and branch manager to help HighTower deliver innovative financial solutions to clients and reignite the boutique wealth management culture in Baltimore.
HighTower's Kelly Wealth Management utilizes a consultative, collaborative approach to provide the highest level of service to its clients. The team's long-term investment process incorporates fundamental analysis and a knowledgeable assessment of the macro-economic environment and capital markets.
Despite the historical absorption of many local Baltimore firms into larger firms, HighTower's Kelly Wealth Management seeks to restore the tradition of boutique wealth management in Baltimore.
"The client-focused perspective that separates boutique wealth managers from larger firms is ingrained in the HighTower culture and provides us with an unparalleled ability to meet the needs of high-net-worth investors in our community," said Leo J. Kelly III, CFP®, Managing Director and Partner at HighTower's Kelly Wealth Management. "Tom will use his business development expertise to strengthen our offering — personalized service, a holistic vision and long-term strategies which clients require to navigate today's increasingly complex financial markets. He understands that boutique wealth management practices like HighTower's Kelly Wealth Management excel at this mission because it is our driving focus."
Mr. Kelly and Brian J. Grumbach, CIMA®, CFP®, Executive Director and Partner at HighTower's Kelly Wealth Management, joined HighTower in February 2012, drawn by the firm's emphasis on high-quality client service and advisor independence, values which have long defined Baltimore's boutique wealth managers. Ironically, when Mr. Kelly was considering leaving his prior firm, Mr. New tried to recruit him. Mr. New was so impressed with the HighTower model that their roles are now reversed.
"The HighTower partnership is increasingly growing in popularity among reputable industry professionals, like Tom, because it provides access to top financial services and products, and also is deeply rooted in a commitment to a fiduciary relationship with clients," said Mr. Kelly.
Under Mr. New's leadership, Morgan Stanley's Hunt Valley office consisted of approximately 50 financial advisors. He received Morgan Stanley's Manager Leadership Award three times during his tenure. In 2009, he helped the Hunt Valley office absorb Smith Barney's location in Towson, MD. Mr. New previously served as the Complex Manager of Morgan Stanley's North Baltimore Complex and the Regional Vice President responsible for five area offices. He began his career as a financial advisor in 1998 and holds a Bachelor of Arts degree in Communication from Loyola University Maryland.
In January 2013, HighTower's Kelly Wealth Management added Matt Moore as a Managing Director and Partner. Mr. Moore, who previously served as a Senior Financial Advisor and First Vice President of Investments at Merrill Lynch, manages $250 million in assets and works with affluent families, individual clients, closely held businesses and non-profit organizations.
"The strategic growth we continue to experience at our practices throughout the country further validates that the HighTower model is changing the face of the financial services industry," said Mike Papedis, Executive Vice President of Business Development at HighTower. "The strength of the HighTower approach is demonstrated by the fact that our teams are able to leverage HighTower's benefits to continually recruit dynamic advisors who are committed to ensuring clients benefit from both a fiduciary standard and unobstructed investment advice."
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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.