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November 9, 2021updated 01 Dec 2021 8:49am

Hightower to set up three new offices in New York

By Verdict Staff

HighTower Advisors is set to expand its presence in the New York City with the opening of three new office locations.

The new offices are located at 300 Madison Avenue, 405 Lexington Ave, and 512 West 22nd Street.

The firm said that the move will offer space for its increasing number of corporate and advisory-business professionals.

Hightower is also planning to leave its current location at 505 Fifth Avenue early next year.

Its Madison Avenue office will feature conference rooms for team briefings and client events while Lexington Ave office, situated in Chrysler building, will have a mix of casual space for gatherings, as well as high-tech desks, offices, and meeting rooms.

The Manhattan office will offer an additional home base for the firm’s advisors serving the New York metro area.

These new office locations are expected to enable both in-depth client and advisor conversations and support essential community, cultural activities. It will also support collaboration among advisers and corporate employees.

Hightower chairman and CEO Bob Oros said: “As we return to meeting and working together, it was important for us to create office space that is comfortable and welcoming, with room for growth.

“Culture is paramount at Hightower and expanding our footprint in New York will enable us to foster collaboration and fuel the next steps in our firm’s expansion.”

Hightower has 119 advisory businesses across 34 US states and the district of Columbia.

The firm, which managed $104bn in assets at the end of September, is set to launch a nationally chartered trust company called Hightower Trust Company in the next few months.

It also brokered nine M&A transactions this year, including acquisitions of Florida-based $1bn RIA Landsberg Bennett, and Farr, Miller & Washington.

In August, Hightower picked an undisclosed stake in Denver-based $800m wealth management firm Investment Security Group, following a strategic investment.

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