HighTower, a US-based advisory-brokerage firm, has launched HighTower Alliance, a fee-for-service platform for independent wealth managers.
Commenting on the launch, HighTower CEO Elliot Weissbluth said, "Our elite service platform and cutting-edge technology fuel faster growth than most businesses can achieve on their own."
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"The HighTower Alliance provides access for innovative firms that want to participate in the wealth management industry shift toward an independent model, and recognize the advantage of having an established partner," Weissbluth added.
The company has signed Memphis-based institutional investment adviser Gavion Partners as first client for its newly launched platform.
Gavion Partners will use the new HighTower Alliance to back its own new partnership for breakaway advisers.
Gavion Partners new business development vice chairman and director Bobby Allison said, "By joining the Alliance, Gavion Partners reinforces its commitment to a client-first culture anchored in the values of integrity, disciplined work ethic and service.
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By GlobalData"HighTower’s superior services platform and cutting-edge technology, along with our shared appreciation for true practice independence, represent the future of financial services," Allison added.
