SOURCE: HighTower


November 09, 2009 09:00 ET

HighTower Pioneers Industry's First Open-Source Financial Services Advisory Firm

New International Talent and Capabilities Broaden Platform's Depth

CHICAGO, IL--(Marketwire - November 9, 2009) - HighTower, the nation's only advisor-owned financial services firm serving high net worth clients, announced today that it has significantly deepened its open-source platform and services with the addition of new international capabilities and advisory talent, as well as global research expertise, reinforcing its commitment to providing superior scale, sophistication and independence.

"As the industry's first open-source advisory firm, HighTower is committed to providing advisors with the global economic tools and capabilities that they need in their roles as independent fiduciaries to clients," said Elliot S. Weissbluth, HighTower's CEO. "The open-source model of financial services firms allows concurrent input of multiple clearing firms and multiple custodians and significantly differs from the closed, centralized models of product distribution and unified platforms."

HighTower has expanded its international advisory talent by welcoming Matthias Paul Kuhlmey, formerly of UBS, to the firm. Mr. Kuhlmey brings extensive international expertise and nearly 20 years of experience serving ultra high net worth private clients who reside overseas. His expertise includes buying and selling of foreign ordinaries. This enables clients who seek to buy and hold foreign equities not listed on U.S. exchanges to do so within the respective foreign currency. In addition, Mr. Kuhlmey brings expertise in borrowing against foreign ordinaries in their respective foreign currency, providing foreign currency exchange services, and executing forward contracts on foreign currencies to hedge against changes in currency values.

"Investors are seeking increasingly sophisticated financial services and counsel," said Mr. Kuhlmey, Managing Director, HighTower. "HighTower sets a new bar for offering a comprehensive and product-agnostic platform that enables advisors to tap an incredibly wide range of products, capabilities and unique opportunities. I look forward to joining this impressive partnership of talent and innovative thinking."

Furthermore, HighTower has broadened its domestic-client advisory talent with the addition of Christopher Towle Davis to the firm. Mr. Davis has more than a decade of wealth management experience, specializing in advising foundations, endowments, faith-based institutions, and nonprofit organizations. Previously, he was at UBS and practiced as a Certified Public Accountant for municipalities, nonprofits, individuals and corporations. He holds a Certified Investment Management Analyst designation from the Wharton School of the University of Pennsylvania, and an Accredited Investment Fiduciary designation from the Foundation for Fiduciary Studies. He received degrees in business management and accounting from Virginia Tech.

HighTower is able to expand its international capabilities through its relationships with several of the largest and safest clearing and custodial partners. These capabilities extend to securities listed throughout Europe and Latin America.

As previously announced, HighTower in September also significantly expanded its global research expertise with the appointment of two world-class economists to the firm, Martin Eichenbaum and Sergio Rebelo, who join as HighTower's new Chief Economic Advisors.

Mr. Eichenbaum is an internationally recognized scholar of macro and international economics. He is currently a Professor of Economics and co-director of the Center for International Economics and Development at Northwestern University (CIED). He has been a Senior Advisor to the Federal Reserve Bank of Chicago for the past 12 years, and is also an advisor to the Federal Reserve Bank of Atlanta.

Mr. Rebelo brings deep expertise in international finance and macroeconomics. He is co-director of CIED and a professor at the Kellogg School of Management at Northwestern. Mr. Rebelo also serves as a fellow of the National Bureau of Economic Research and the Center for Economic Policy Research, and has been a consultant to the World Bank, the International Monetary Fund, Board of Governors of the Federal Reserve System and other organizations.

"At HighTower, we're defined by our advisors," continued Mr. Weissbluth. "Only advisors with an excellent fiduciary record and strong character are candidates for partnership. We are exceptionally glad to continue attracting top advisory talent with extensive and varied backgrounds that reflect our dedication to providing superior financial advice and high quality client services."

To request more information on HighTower, please contact Jennifer Connelly at 973.732.3521 or

About HighTower

HighTower is the first open-source, advisor-owned financial services company, focused on the needs of wealthy families. HighTower advisors are experienced investment professionals with large, established practices serving high net worth clients. As a dually-registered, multi-custodial firm, HighTower provides sophisticated investment solutions as well an independent and unobstructed view of the markets. The company is headquartered in Chicago and maintains corporate centers in New York and San Francisco and offices around the country. See

Securities offered through HighTower Securities, LLC, Member FINRA/SIPC/MSRB. HighTower Advisors, LLC is registered with the SEC as an investment adviser.

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