HighTower nabs top FiNet recruiter

Firm signs Kimberly Hollenbeck to help recruit on the West coast; fills position left open by Kevin Geary

Jul 22, 2014 @ 9:50 am

By Mason Braswell

hightower, finet, recruiter, wells fargo
+ Zoom

HighTower Advisors, a hybrid broker-dealer and investment adviser, has snapped up a top recruiter from Wells Fargo & Co.'s independent brokerage unit, Wells Fargo Advisors Financial Network.

Kimberly Hollenbeck, who sources said brought in advisers with around $15 million in revenue in 2013, will join HighTower on Aug. 11 as a recruiter on the West Coast, according to a source familiar with the move.

Wells Fargo Advisors spokeswoman Rachelle Rowe confirmed the move and said that Tuesday would be Ms. Hollenbeck's last day. The firm is seeking to replace her.

A HighTower spokeswoman, Melinda Brodbeck, said executives were traveling and not immediately available.

A similar recruiting role at HighTower was previously held by Kevin Geary, who had been managing director of Western business development before moving to Fidelity Investments this spring.

(Don't miss: Will HighTower be the next Raymond James?)

In her new position, Ms. Hollenbeck will focus on recruiting to all three of HighTower's platforms, including its partnership, franchise and fee-for-service channels, according to the source.

Ms. Hollenbeck's departure comes six months after her former manager at FiNet, Ron Sallet, left to join Dynasty Financial Partners.

Wells Fargo FiNet recently brought on a former LPL recruiter, Joseph Line, another one of the many recruiter moves this year.

Ms. Hollenbeck had been with Wells Fargo since 2010, according to records with the Financial Industry Regulatory Authority Inc.

HighTower Advisors had around $15 billion in assets under management, according to a filing with the SEC from May. That was not including the assets hired into the HighTower Network platform, which has hired four teams so far this year.


What do you think?

View comments

Recommended for you

Featured video


State Street's Brie Williams: The story behind the 'Fearless Girl' statue

The idea started with the creation of a statue to coincide with International Women's Day, and the results surpassed expectations, according to Brie Williams, head of practice management at State Street Global Advisors.

Video Spotlight

Will It Last As Long As Your Clients Do?

Sponsored by Prudential

Video Spotlight

The Catalyst

Sponsored by Pershing

Latest news & opinion

10 funds with largest 3-year outflows

Even well-managed funds that have beaten the S&P 500’s 10.1% average annual gain have watched investors flee.

Wirehouse training programs are back

At one time, major brokerage houses ran large, expensive training programs for thousands of young brokers, and now it looks as if they are about to return to that model.

New military pension rules need financial advisers to step up and serve

Matching defined contribution plan expected to see more money, more need for sound advice.

Brian Block's $4 million bonus was tied to a key metric at ARCP

Prosecution rests case in fraud trial against CFO of American Realty Capital Properties.

Edward Jones is winning the Google search war

Brokerage firm's digital marketing investment helps land it at the top of local and overall search engine results, report finds.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print