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April 7, 2015updated 04 Apr 2017 1:43pm

HighTower lures $750m team from Morgan Stanley

HighTower Advisors has added a California-based Bahnsen Group, an eight-member team which managed about $750m in assets at Morgan Stanley.

By Verdict Staff

HighTower Advisors has added a California-based Bahnsen Group, an eight-member team which managed about $750m in assets at Morgan Stanley.

The Bahnsen Group, led by David Bahnsen and Brian Szytel, which provides financial planning and investment management services to high net-worth individuals and families.

Bahnsen, the team’s chief investment officer, has worked at UBS Financial Services before joining Morgan Stanley while Szytel began his career at UBS before moving to Smith Barney and joined Morgan Stanley in 2008.

HighTower national director of enterprise development Michael Parker said: "David leads an elite advisory practice on a phenomenal growth trajectory. The caliber of his team reflects the discriminating process we use for selecting advisors to join the HighTower membership.

"We take great pride in upholding the highest standards in our industry and the Bahnsen Group is a superb addition to our community."

The HighTower partnership includes 50 teams with $30bn in total assets under advisement as of 31 December 2014.

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