CHICAGO, Feb. 10, 2011 /CHICAGOPRESSRELEASE.COM/ — HighTower, the first open-source, advisor-owned financial services company, is pleased to announce an agreement with Guggenheim Partners, a global diversified financial services firm. The alliance provides HighTower advisors with exclusive access to a comprehensive suite of investment solutions via Guggenheim Investment Advisory Solutions, an open-architecture platform dedicated to serving sophisticated financial intermediaries.
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“HighTower’s infrastructure leverages a multi-clearing and multi-custodial core, however, we augment those capabilities with industry leading investment solutions focused on the unique needs of high net worth families,” said HighTower CEO Elliot Weissbluth. “We are proud of our new alliance with Guggenheim, which has demonstrated a clear commitment to understanding the complex needs of high net worth families.”
“The Guggenheim Investment Advisory team strives to identify, vet and actively monitor attractive investment opportunities both from within Guggenheim and through external solution providers. Our focus is on developing premier solutions and services suitable for advisors serving sophisticated clients,” said Phipps Moriarty, senior managing director at Guggenheim. ”For wirehouse advisors seeking independence away from the traditional Wall Street firms, we selected HighTower as our partner to deliver industry-leading investment thinking and solutions.”
As part of the agreement, HighTower advisors will also be able to utilize Riskometry™, Guggenheim’s proprietary approach to assessing risk-tolerance. Developed by Nobel Laureate in Economics Danny Kahneman together with Guggenheim, Riskometry applies behavioral finance concepts to help high net worth investors understand their specific attitudes toward risk. Advisors trained in Riskometry may use the approach with their clients, receiving tailored portfolio construction recommendations from Guggenheim.
HighTower Director Gregory Schulson, an early investor in HighTower who steered the alliance with Guggenheim, added, “Adding the Guggenheim solution will enhance and expand HighTower advisors’ ability to deliver highly sophisticated investment solutions. This partnership reflects precisely the type of innovative, top quality strategic alliances that HighTower seeks as it continues to expand.”
For media inquiries, please contact Jennifer Connelly at 973-732-3521 or jenn@jcprinc.com.
About HighTower
HighTower is the first open-source, advisor-owned financial services company. HighTower advisors are experienced investment professionals with large, established practices serving high net worth and institutional clients. As a dually-registered, multi-custodial firm, HighTower provides sophisticated investment solutions as well as an independent and unobstructed view of the markets. The company is headquartered in Chicago and maintains corporate centers in New York and San Francisco and offices around the country. See www.hightoweradvisors.com.
SOURCE HighTower