Hightower Advisors, LLC (Chicago)

Name: Hightower Advisors, LLC
Address: 200 W. Madison St., Chicago, IL, 60606
Telephone: 312-962-3800

Hightower Advisors, LLC is a large advisory firm based in Chicago. It manages $48.07 billion of regulatory assets for 88,388 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 48 other states.

Hightower Advisors provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, selection of other advisers, and treasury management for corporate clients. It prepares financial plans for more than 250 clients. On top of advisory services, the firm doesn't engage in other business activities.

Hightower Advisors: assets under management

The assets under management (AUM) of Hightower Advisors, LLC is $48.07 billion, all of which is managed in discretionary accounts. The firm's AUM has grown by 20128% since the beginning of its operation, and $200 million of the total AUM is attributable to clients outside of the United States.

The firm manages $48.07 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $543.85 thousand each.

Investments

The firm invests in investment and business development companies the most. They account for 40% of the total AUM. The second-largest asset type is exchange traded securities, which make up 25% of the firm’s portfolio. Investments in cash and cash equivalents form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Hightower Advisors, LLC for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Flat-fee based compensation is the most transparent and the one you can safely predict in advance. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Daniel Baruch Lidawer serves?

The firm provides services to individuals, charitable organizations, high net worth individuals, corporations or other businesses, and pension and profit sharing plans. The largest group of clients of Daniel Baruch Lidawer is high net worth individuals with 8,078 clients and $31.51 billion of assets under management. Among the 11 most similar advisory firms, Hightower Advisors has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $48.07 billion for 88,388 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Hightower Advisors also advises several private funds. Namely, three hedge funds. The minimum investment commitment required of non-related persons ranges from $500,000 to $1,000,000.

Careers at Hightower Advisors, LLC

The company employs 566 people that are either part- or full-time employees. 61 percent of the employees work as investment advisers or researchers. 344 employees are registered as investment adviser representatives with the state securities authorities.

There are 66 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Daniel Baruch Lidawer has been acting as President since 1 Dec 2012. Michelle Marie Thetford joined the executive team most recently as the Chief Operating Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Daniel Baruch Lidawer	Manager/president/chief compliance officer	1 Mar 2008	Other	1877045
Llc Hightower Holding	Holding company	1 Apr 2008	75% - 100%	26-2270729
Robert Steven Pagliuco	Cfo, manager	1 May 2008	Other	2617931
Max H Mintzer	Managing director of operations	1 Jun 2008	Other	5222833
Llc Hightower Holding	Member	1 Jul 2008	75% - 100%	26-2270729
Nancy Johnson Jones	Chief compliance officer	1 Sep 2008	Other	2026139
Matthew Mark Reynolds	National director, operations	1 Apr 2009	Other	4077413
Matthew Mark Reynolds	Chief compliance officer-interim	1 Jul 2009	Other	4077413
Eliza A Tainton	Managing director, osg	1 Jun 2011	Other	2218429
Michael Anthony Lamena	Chief operating officer	1 Sep 2011	Other	2797064
Timothy Bernard Woods	Chief compliance officer	1 Jun 2012	Other	4428777
Matthew Mark Reynolds	President	1 Jun 2012	Other	4077413
Daniel Baruch Lidawer	President	1 Dec 2012	Other	1877045
Timothy Bernard Woods	Counsel	1 Apr 2013	Other	4428777
Barry Anthony Coviello	National director of field supervision	1 Jul 2013	Other	1813688
Douglas Joseph Besso	Coo/cto	1 Jan 2015	Other	1530829
Lance Devin Murray	Deputy compliance officer	1 May 2015	Other	5007605
Lance Devin Murray	Chief compliance officer	1 Jul 2016	Other	5007605
George Stephen Fischer	Managing director, operations & service	1 Aug 2017	Other	4681610
Nicolas Mutch	Executive director, operations & service	1 Sep 2017	Other	5299295
Daniel Jeremy Berg	Director, finance	1 May 2018	Other	6146365
Paul Heinz Robert Wascher	Director of compliance	1 Apr 2019	Other	1324173
Michelle Marie Thetford	Chief operating officer	1 Jul 2019	Other	2397727

Indirect Owners

The SEC currently registers 3 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Kornreich Drew	Owner	1 Oct 2007	75% - 100%	5446282
Elliot Sol Weissbluth	Ceo of holding company	1 May 2008	Other	4507503
Llc Thl Equity Fund Vii Investors (Ht)	50% owner of applicant's holding company	1 Jan 2018	50% - 75%	82-3551026

Based in Chicago

The principal office where Hightower Advisors, LLC performs its advisory services is located at 200 W. Madison St., Chicago, IL 60606, which is also the mailing address of the firm. An additional office of the firm is in Boca Raton, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 312-962-3800 or by fax 312-276-8341. The normal business hours are 9 am - 5 pm on Monday - Friday. You can find more information about the New York firm at hightoweradvisors.com and its LinkedIn profile.