“High Tower plans to continue to ramp up the expansion and take advantage of the increased advisor movement,” stated Executive Vice President of Business Development, Mike Papedis, to reporter Lorie Konish of OnWallStreet on January 23.
[pullquote]The firm’s model has been successful[/pullquote]This comes following High Tower’s hiring of a high-end advisor team from MSSB’s Graystone Consulting business. The team will serve as directors and partners in the Scottsdale AZ office, marking High Tower’s first expansion into the Southwest region.
Chicago-based High Tower was established in 2008 as an alternative to the traditional structure of financial services firms. High Tower’s advisors have part ownership in the firm.
“The firm’s model has been successful and much of their growth has come from targeting specific geographic regions and the top advisor teams in those areas” according to the Konish report.