By Hightower Advisors / April 8, 2022
With approval from the U.S. Office of the Comptroller of the Currency, Hightower launches Hightower National Trust Company, offering corporate and administrative personal trust services for Hightower advisors and their clients.
CHICAGO – April 8, 2022 – The U.S. Office of the Comptroller of the Currency (OCC) has officially approved Hightower’s application for a national charter for the new Hightower Trust Company, National Association (“Hightower National Trust Company”). Launching today, the trust company will provide Hightower advisors nationwide with corporate and administrative personal trust services to support their clients’ holistic planning and wealth-transfer needs across generations.
Based in Houston with offices in Chicago and Delaware, Hightower National Trust Company provides Hightower advisors with a traditional mix of personal trust investment management, custody and safekeeping products for their high-net-worth and ultra-high-net-worth clients. This includes discretionary investment management services for managed accounts and non-managed accounts, custody and escrow services, and agency services such as administrative support to other fiduciaries, principals of partnerships, limited liability companies and other legal entities.
“Today’s launch of the Hightower National Trust Company is exciting news for Hightower advisors and their clients,” said Hightower Chairman and CEO Bob Oros. “The trust company’s extensive range of trust administration, record-keeping and tax-reporting services deepens our existing suite of value-added capabilities. As an ‘in-house’ resource, Hightower advisors can easily leverage these sophisticated services for their clients and their families, enhancing and cementing client relationships now and for generations to come.”
The launch of the Hightower National Trust Company, which plans to open additional offices in Nevada and South Dakota later this year, is part of Hightower’s broader strategy of offering its advisory businesses streamlined access to intimate, coordinated and institutional-class family-office services and expertise for their affluent clients.
For example, Hightower advisors have access to Business Owner Succession Services (BOSS), a set of offerings designed for entrepreneur and business-owner clients whose companies are undergoing a merger, acquisition, sale or capital raise. Hightower provides valuations, investment banking resources, private liquidity and support with managing concentrated stock holdings, among other services. In addition, Hightower recently announced a strategic investment in Grant Tani Barash & Altman, a preeminent Los Angeles-based business management firm that provides affluent clients with personal chief financial officer services, including bookkeeping and accounting, bill payment, tax preparation and other concierge financial management capabilities. In the coming months, Hightower advisors will gain direct and streamlined access to these services.
In addition to family-office capabilities, Hightower offers its 123 advisory businesses in 34 states and the District of Columbia services to catalyze and accelerate organic growth, including business development consulting, leadership and team development, talent acquisition, marketing support, technology, investment management resources, compliance, accounting, payroll and human resources. Inorganic growth services include sourcing, valuation, deal structuring, due diligence, legal and regulatory, pre- and post-close integration, and capital resources for M&A transactions. Advisory groups that partner with Hightower also gain access to economies of scale, deep industry relationships and a nationwide advisor community.
As of December 31, 2021, Hightower’s assets under administration (AUA) were approximately $144 billion and its assets under management (AUM) were $117.8 billion.
Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower’s capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of “well-th. rebalanced.” Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower’s collaborative business model at www.hightoweradvisors.com.
Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.
Hightower Advisors is registered with Hightower Securities, LLC, member FINRA and SIPC, and with Hightower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through Hightower Securities, LLC; advisory services are offered through Hightower Advisors, LLC.
This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.
All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.
This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of Hightower Advisors, LLC, or any of its affiliates.