HighTower picks up Merrill advisers with $800 million

Three advisers join as partners and will operate as HighTower Fort Myers.
SEP 02, 2014
HighTower has added the 44th team to its partnership as it continues to boost recruiting following the announcement it received a $100 million line of credit in July. After adding a $400 million independent firm in Seattle, Wash., last month, the firm said Monday it had picked up three former Merrill Lynch advisers who previously managed some $800 million in assets. The three, which operated as part of separate teams at Merrill Lynch, will now operate as a single practice under the name HighTower Fort Myers. The team consists of Pamela Lynn Abraham, Jack E. Thomas and Trevor R. Swartz, all joining as partners. (Related: See all the latest HighTower hires from the Advisers on the Move database) Partners operate as W-2 employees of HighTower and receive an upfront bonus in addition to equity stake in the firm. They are joined by another adviser, Mathew Cerrengia, who will operate as a director and senior wealth management adviser. Ms. Abraham had previously been with Merrill Lynch for more than three decades. Mr. Thomas and Mr. Swartz had led Merrill Lynch's Thomas & Swartz global wealth management group. Ms. Abraham said in a statement that she joined HighTower because she wanted “a firm where everyone is dedicated solely to acting in the best interests of clients.” A Merrill Lynch spokeswoman, Ana Katherine Sollitto, confirmed the moves but declined to comment further.

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