January 26, 2021
Louis Diamond Quoted
By Diana Britton
While Chicago-headquartered Hightower’s core strategy continues to be acquiring standalone registered investment advisors, the firm has recently made a foray into the independent broker/dealer channel, and CEO Bob Oros expects it to be a complementary area of growth for the firm going forward. The move would certainly expand the universe of potential acquisitions.
“There’s a lot of gold in the hills, if you will,” said Louis Diamond, president of Diamond Consultants. “At most of the major broker/dealers, there’s a number of outstanding practices, and those practices struggle with the same things an RIA does, which is succession planning, which is scale, which is offloading some day-to-day responsibilities, and a firm like Hightower could be an ideal fit to remedy that.”
