The HighTower Advisors ‘for-sale’ rumors grow to include a named suitor

RIA Biz Financial Advisor News

September 1, 2017
Louis Diamond Quoted
By Lisa Shidler and Brooke Southall

Long rumored to be seeking a sale, HighTower Advisors LLC may have attracted the interest of a buyer with decent financial strength, if faded glory.

With its reputation as a “sleepy, old” broker-dealer known for having more than its share of older and small FINRA-dinged advisors in its employ, Oppenheimer would make a big strategic score acquiring HighTower, says Louis Diamond, recruiter for Diamond Consultants in New York.

“If you are able to bring in a ridiculous number of Barron’s-rated fee-based advisors, it’s a home run,” he says. “You get scale and credibility.”

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