HighTower Network adds $300 million Merrill team

Two Merrill Lynch advisers with a combined $300 million in assets under management go independent as a HighTower franchise
JUL 22, 2014
HighTower Advisors has snapped up a former Bank of America Merrill Lynch duo who previously managed about $300 million in client assets. Veteran advisers Jason Ezzell and Alec Fisher joined as a HighTower franchise in Roseville, Calif. They will operate as The Ezzell Group and receive technology, compliance and operational support in exchange for providing HighTower with a share of revenue. More: Will HighTower be the next Raymond James? The Ezzell Group is the fourth team to join the HighTower Network Advisors franchise model since it launched a year ago. Earlier this year, the firm added a $600 million Morgan Stanley & Co. team in Columbus, Ohio. HighTower chief executive Elliott Weissbluth has said that HighTower's strategy is shifting away from trying to build up its partnership platform, which offers advisers upfront money and equity stake in the firm, to focus more on its franchisee network model and its fee-for-service platform, HighTower Alliance.

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

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.