Hightower has received approval from the Office of the Comptroller of the Currency for a trust operation, to be known as Hightower National Trust Co.
Based in Houston, with offices in Chicago and Delaware, the trust company is intended to provide personal trust investment management, custody and safekeeping services for Hightower’s high-net-worth and ultra-high-net-worth clients. Other offices are planned for Nevada and South Dakota.
The launch of the trust company is part of Hightower's broader strategy of offering its advisory businesses streamlined access to institutional-class family office services and expertise for their affluent clients.
Most firms place a limit on advisors’ sales of alternative investments to clients in the neighborhood of 10% a customer’s net worth.
Those jumping ship include women advisors and breakaways.
Firms in New York and Arizona are the latest additions to the mega-RIA.
The agent, Todd Bernstein, 67, has been charged with four counts of insurance fraud linked to allegedly switching clients from one set of annuities to another.
“While harm certainly occurred, it was not the cataclysmic harm that can justify a nearly half billion-dollar award to the State,” Justice Peter Moulton wrote, while Trump will face limits in his ability to do business in New York.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
