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 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

Sponsored financial news

Featured video


What's the first thing advisers should do when they get home from a conference?

After attending a financial services conference, advisers can be overwhelmed by options, choices and tools. What's the first thing they should do when they get back to their office?

Latest news & opinion

Is Fidelity competing with retirement plan advisers?

As the Boston-based mutual fund giant expands the products and services it brings to the retirement market, some financial advisers say the firm is encroaching on their turf.

Gun violence hits investment strategies, sparks political debates with advisers

Screening out weapons companies has limited downside.

Whistleblower said to collect $30 million in JPMorgan case

The bank did not properly disclose that it was steering asset-management customers into investments that would be profitable for JPMorgan Chase.

Social Security underpaid 82% of dually entitled widows and widowers

Agency failed to tell survivors that they could switch to a higher retirement benefit later.

If Finra eases firm oversight of outside business activities, broker-dealers could lose revenue

Brokerage firms would no longer be able to charge reps for supervising nonaffiliated RIAs.


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print