CHICAGO, Feb. 21, 2018 /PRNewswire/ -- HighTower announces the launch of Hummer Mower Associates LLC. The Chicago-based team manages $450 million in client assets, and was previously affiliated with Wintrust Wealth Management. Managing Partner Grove N. Mower leads the practice, which also includes Partners Philip W. Hummer, David D. Cox, Rebecca J. Parr, Ryan J. Ross, and Associate Chapin N. Mower.
"Elite advisors like the Hummer Mower team can affiliate with HighTower in a variety of ways," said HighTower CEO Elliot Weissbluth. "We acquire independent RIAs and wirehouse teams with an eye toward succession planning, and also provide comprehensive services to independent financial advisory businesses."
Hummer Mower Associates LLC traces its roots to 1931, when Mr. Hummer's father founded Wayne Hummer & Co. in Chicago because he saw the need for a firm whose first priority was to serve clients' interests instead of selling securities to them. Grove N. Mower has over 37 years of Wall Street experience, the last twenty of which he worked with individuals and families at Wayne Hummer Investments, the broker dealer for Wintrust Wealth Management.
"As the financial world has evolved, so have we," said Mr. Mower. "Now, as a Registered Investment Advisor (RIA), we are able to provide a much wider range of advice and service under the HighTower umbrella. HighTower's platform and community will enable us to serve our clients' diverse and complex needs with the sophistication, diligence, and transparency they expect and deserve."
Earlier this year, HighTower announced the launch of a new advisor team in Santa Fe, New Mexico with $115 million in client assets led by Managing Director Gayle Johnson.
HighTower is continuing to invest in its service capabilities including investment research, technology, operations and practice management ahead of its next phase of rapid growth. 2017 was a record-breaking year with more than 20 new advisor teams onboarded and the company's largest acquisition to date. HighTower added $6.4 billion in assets and multiple new teams from WealthTrust to its community of elite financial advisors. In October 2017, HighTower also announced a new partnership with private equity firm Thomas H. Lee Partners, which included a commitment to invest $100 million of new equity capital to fund HighTower's growth.
About HighTower
HighTower is reshaping the financial services industry from the inside out. As one of the nation's largest Registered Investment Advisors (RIAs) dedicated to providing advice, not selling a product, we are a relentless champion of the fiduciary standard. HighTower acquires independent RIAs and wirehouse teams, and also provides comprehensive services to independent financial advisory businesses. We believe that the wealth management industry can and should do a better job of serving the needs of individual investors and their financial advisors. We built HighTower upon a commitment to put our clients' best interests first. For the 6th consecutive year, HighTower ranks on the Inc. 5000 list of the fastest-growing companies in America (2012 ? 2017). For more information, see www.hightoweradvisors.com and www.byadvisorsforadvisors.com.
Melinda Brodbeck
JConnelly
973-850-7348
[email protected]
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