CHICAGO, Jan. 7, 2019 /PRNewswire/ -- HighTower today announced that industry veteran Bob Oros has been named Chief Executive Officer of the company. In his new role, Mr. Oros will focus on growing and scaling the company, building value for advisors, employees and investors, and furthering HighTower's mission to become the U.S.'s premier independent fee-based advisory firm.
"Over the past 11 years, I have watched HighTower expand from a disruptor and first-of-its-kind platform into one of the nation's leading independent wealth management firms," Mr. Oros said. "HighTower's unique collaborative culture, comprehensive platform and national brand make it a destination of choice for elite RIAs seeking support and services to grow and scale. Having worked in the advisory business for much of my career, I have seen first-hand that HighTower's offering is truly superior in its ability to help advisors build value for their practices and the firm."
With $60 billion in client assets and 92 advisor teams, HighTower has expanded rapidly in the years following its founding 11 years ago. Since mid-2017, the firm has made significant external acquisitions, including WealthTrust and Salient Private Client. Following the Thomas H. Lee recapitalization last year, HighTower has also had outstanding success in renewing its long-term partnerships with numerous HighTower teams, enabling them to better serve their clients as their businesses grow. HighTower advisors have been featured on best-of lists from Forbes, Barron's and The Financial Times, to On Wall Street and InvestmentNews.
Mr. Oros brings more than 20 years of leadership and strategic experience from respected firms such as Charles Schwab and Fidelity, where he was responsible for the RIA segment. In his most recent role, as CEO of HD Vest Financial Services, Mr. Oros helped to transform the firm's platform, services and capabilities while increasing quarterly productivity per advisor and boosting revenue.
With Mr. Oros' appointment to CEO, company founder Elliot Weissbluth will transition to Chairman of the Board. Gurinder Ahluwalia, the current Board Chairman, will become Lead Director.
"I am delighted to welcome Bob, whom I have known for many years, and am looking forward to supporting him as he leads the company during this exciting period of growth in our industry," said Mr. Weissbluth. "Bob's strong leadership abilities and track record of growing companies make him an ideal fit to lead HighTower in its second decade."
Ganesh Rao, Managing Director at Thomas H. Lee Partners, commented, "Bob is passionate about serving advisor teams, helping them solve business challenges through every stage of their growth lifecycles. His deep understanding of service complexities and commitment to building firm value will set HighTower on a path to long-term success in the wealth management industry."
HighTower is an innovative wealth management firm challenging the status quo of how firms deliver financial advice in the United States. Founded in 2007, the firm is at the forefront of a major industry shift from product sales to client service. Servicing approximately $60 billion in assets, HighTower is one of the fastest-growing companies in the U.S. Visit www.hightoweradvisors.com.