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.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
