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Adviser Profile

As of Date:


Adviser Type:

- Large advisory firm

Number of Employees:

1,816 6.82%

of those in investment advisory functions:

792 1.93%


SEC, Approved, 10/3/2008


130,239,337,374 23.77%

of that, discretionary:

122,850,556,340 17.78%


142,479,757 247226.34%

Avg Account Size:

730,631 0.51%

% High Net Worth:

45.36% 244.12%



Private Funds:


Contact Info

312 xxxxxxx

Websites :
Client Types:


Advisory Activities:


Compensation Arrangments:


Reported AUM

104B 89B 75B 60B 45B 30B 15B
2015 2016 2017 2018 2019 2020 2021 2022 2023

Recent News

HighTower Advisors, LLC Buys 2, Sells 3 in 4th Quarter

Related Stocks: CMCSA, GLD, TGT, BIL, TMUS,


Chicago Rivet & Machine Co.

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International ...


Akari Therapeutics PLC ADR

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International ...


Nuveen Intermediate Duration Municipal Term Fund

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International ...


US STOCKS-Banks lead Wall Street lower on hedge fund default concerns

Nomura and Credit Suisse warned of losses after the U.S. hedge fund, named by sources as Archegos Capital ... chief investment strategist at Hightower Advisors. At 10:04 a.m. ET, the Dow Jones Industrial Average was up 16.14 points, or 0.05%, at 33,089.02 ...


‘You might see aftershocks’: What market observers are saying about the Archegos margin call share dump

Nomura and Credit Suisse are facing billions of dollars in losses after a U.S. hedge fund, named by sources as Archegos Capital, defaulted on margin calls, putting investors on edge about who else ...


Private Funds Structure

Fund Type Count GAV
Other Private Fund 1 $142,479,757

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Private Funds


Brochure Summary


Hightower Advisors, LLC (“HTA” or “Hightower”) is an investment advisory firm registered with the U.S. Securities and Exchange Commission (“SEC”), and a wholly owned subsidiary of Hightower Holding, LLC. Detailed information about Hightower is available in its Form ADV, Part 2A (“Firm Brochure”). Hightower is also affiliated with an SEC-registered broker-dealer, Hightower Securities, LLC (“HTS”), and several SEC-registered investment advisors. Please refer to Item 10 in our Form ADV, Part 2A (“Firm Brochure”) for a list of those affiliates. Clients may select from a variety of investment management services, including portfolio management (implemented by HTA, or an independent, third-party money manager), investment consulting, financial planning, and estate planning. HTA provides services to clients through individuals registered as investment adviser representatives, who are referred to internally as “Financial Advisors.” HTA’s Financial Advisors may be specialists in areas such as wealth management, investment consulting, portfolio management, asset allocation, cash management/treasury services, financial planning, and/or estate planning. This Form ADV Part 2A, Appendix 1- Wrap Fee Program Brochure is offered to potential and existing clients to provide an understanding of available programs sponsored by Hightower and its related conflicts of interest. Clients typically include high and ultra-high net worth families as well as individuals, businesses, pension and profit-sharing plans, trusts, estates and charitable organizations, corporations or other business entities, and institutional clients. Clients are advised that the same or similar programs or services as those described herein may be available from other investment Advisors for an annual fee lesser or greater than set forth herein, and that the programs described in this brochure may cost the client more or less than purchasing the different services within each program separately depending upon such factors as trading activity, account size, portfolio management fees, mutual fund no-load or load charges, etc. Financial Advisors will be reasonably available for consultation with clients regarding the management of their account. HTA will provide necessary financial information to the Money Manager including material changes provided by the client as needed. Hightower Advisors, LLC Sponsored Program (“Advisor Directed Program”) A. Program Description This section describes the Advisor Directed Program offered by HTA. The minimum amount of assets required to participate in the Advisor Directed Program is generally $100,000, subject to negotiation. Each client participating in the Advisor Directed Program enters into an agreement with Fidelity, Charles Schwab (“Schwab”), TD Ameritrade or Pershing Advisor Solutions (“Selected Custodians”), the clearing and custodial firms selected by HTA. HTA has an agreement with the Selected Custodians that sets forth the services that HTA will provide the client and the fee the client will pay. HTA also has agreements with the third-party Money Managers chosen to participate in the Advisor Directed Program. The Selected Custodians provide execution, custody, and administrative services to HTA. Securities and/or cash designated by the client for inclusion in the Advisor Directed Program are maintained in one or more accounts held at a Selected Custodian. Clients in the Advisor Directed Program generally grant HTA authority to manage their accounts on a discretionary basis in accordance with the client’s investment objectives, risk tolerance and investment time horizon, subject to any reasonable restrictions that the client has provided to HTA in writing. The client’s financial advisor will be responsible for making investment decisions for the account on HTA’s behalf. Pursuant to this grant of discretion, clients authorize HTA to invest in securities and other investments, at the time and in the manner that the financial advisor determines, and to act on the client’s behalf in all other matters necessary or incidental to the handling of the account, without discussing these transactions or actions with the client in advance. The specific terms of the investment advisory relationship between each client, HTA and the financial advisor are set forth in the Client Advisory Agreement. Program accounts utilize an individual investment style and strategy in accordance with each client’s financial situation and investment objective for the Advisor Directed Program account. If a third-party Money Manager is selected, its investment style and strategy will also be chosen in accordance with the client’s financial situation and investment objective for the Advisor Directed Program Account. Transactions in Advisor Directed Program accounts generally are executed through unaffiliated broker-dealers, including Schwab, Fidelity, TD Ameritrade, or Pershing Advisor Solutions. Third-party Money Managers must meet certain requirements as established by HTA and as determined through HTA’s due diligence. Any restrictions on the management of the Advisor Directed Program account imposed by the client or by such written investment policies or guidelines may cause HTA or the Money Manager to deviate from the investment decisions it otherwise would make in providing services under the Advisor Directed Program. HTA will have no liability for a client’s failure to provide HTA with accurate or complete information or to inform HTA promptly of any change in the information previously provided. Financial advisors and Money Managers will be reasonably available for consultation with clients regarding the management of their account. HTA will provide necessary financial information to the Money Manager including material changes received from the client as needed. B. Wrap Fee Clients in the Advisor Directed Program pay a fee that covers, among other things, services provided by the custodian and services provided by applicable Money Manager(s) (a “program fee”). Clients also pay advisory fees to HTA for the services it provides. The program fee and the HTA advisory fee are bundled into one fee (the “Wrap Fee”). The Wrap Fee covers investment advisory services, execution of transactions, custody with Selected Custodians, and reporting. C. General Fee Items HTA, in its discretion, may negotiate the fee (and the rate of any other fees charged by HTA for services not covered by the Wrap Fee) in appropriate circumstances, based on a number of factors including, but not limited to, the type and size of the account, the size or number of trades anticipated to be executed for the account, services provided to the account, the client’s other accounts with HTA, and the accounts of the client’s family with HTA. Wrap fees charged generally are less than or equal to 250 basis points (2.5%). The fees applicable to the wrap account may be higher or lower than the fees that HTA
charges other clients in this or other programs and may be higher or lower than the cost of similar services offered through other financial firms when considering the unbundled cost of the services provided and the transaction costs the account would otherwise have been expected to cover. The account may be subject to a minimum fee specified in the Client Advisory Agreement. In connection with the Advisor Directed Program, Financial Advisors may utilize an investment strategy that generally seeks investments that are long term in nature with a buy and hold bias. Due to the nature of these strategies, investments in accounts could incur low position turnover. However, the client continues to pay the Wrap Fee regardless of the number of transactions incurred in the account. Client should also be aware that services similar or comparable to those provided to them might be available to the client at a lower aggregate cost elsewhere on an “unbundled” basis. The Wrap Fee does not cover brokerage commissions or other charges resulting from transactions not effected through the qualified custodian broker-dealers, nor does it cover custody services provided by any non-core custodian. The Wrap Fee does not cover certain costs or charges that may be imposed by HTA or third parties, including, but not limited to, costs associated with exchanging foreign currencies, odd lot differentials, activity assessment fees, transfer taxes, exchange fees, wire transfer fees, postage fees, auction fees, foreign clearing, settlement and custodial fees, and other fees or taxes required by law. The Wrap Fee does not cover “mark-ups” or “mark-downs” that broker-dealers may receive or “dealer spreads” that other broker-dealers may receive when acting as principal in certain transactions. The Wrap Fee also does not cover the annual fee that qualified custodians charge Individual Retirement Accounts or certain other retirement plans. Costs associated with using margin are not covered in the Wrap Fee and may result in additional compensation to HTA and the Financial Advisor representative. As such, Financial Advisors are subject to a conflict of interest in recommending that advisory clients open margin accounts and maintain debit balances. The financial advisor or the Money Manager may invest account assets in open-end mutual funds (including money market funds), closed-end funds, exchange traded funds (“ETFs”), and other pooled investment vehicles that have various internal fees and expenses, which are charged by such funds and are ultimately borne by the client as an investor. Besides general equities and fixed income securities, financial advisors and money managers may employ strategies that utilize the following types of investments: (i) American Depository Receipts (“ADRs”), which are receipts issued by a U.S. bank or trust company that evidence ownership of non-U.S. securities and are traded on a U.S. exchange or in the over the counter market; (ii) Global Depository Receipts (“GDRs”), which are receipts issued generally by a non-U.S. bank or trust company that evidence ownership of non-U.S. securities; (iii) World Equity Benchmark Shares (“WEBS”), which are shares of Foreign Fund, Inc., an open end investment company organized in series, each of which invests primarily in non U.S. common stocks in an effort to track the performance of a specified foreign country equity market index compiled by Morgan Stanley Capital International (“MSCI”); or (iv) closed end investment companies that invest a substantial portion of their assets in the securities of specified foreign countries (“closed end country funds”). Clients will bear, in addition to the Wrap Fee, a proportionate share of any fees and expenses associated with these securities, if applicable, in which account assets are invested, and may also bear any fees and expense associated with converting non-U.S. securities into ADRs or GDRs, if applicable. A portion of the Wrap Fee is paid to the financial advisor. The financial advisor receives compensation as a result of the client’s participation in the Advisor Directed Program, and the amount of this compensation may be more or less than what the financial advisor would receive if the client participated in other HTA or affiliate’s programs or paid separately for investment advice, brokerage, and other services. The financial advisor may have a financial incentive to recommend the Advisor Directed Program over other HTA or affiliate’s programs and services. The Wrap Fee is an agreed upon annual fee that will be payable quarterly in arrears. This determination will be made and disclosed at the time of the client advisory agreement signing. Billing for the quarter will be in arrears or advance and based on the average daily balance and the number of days assets are in the Account(s), or for the billing period ending balance. Please refer to the Firm Brochure, Item 5 for billing practices. Transactions in the account may be effected through the client’s chosen custodian, unless otherwise required by applicable law. When a transaction is executed through the client’s qualified custodian the custodian will be entirely responsible for the execution and clearance of the transaction. D. Additional Fees Hightower complies with its duty to seek “best execution.” However, a client may pay a commission that is higher than the commission another qualified broker-dealer might charge to effect the same transaction where Hightower determines, in good faith, that the commission is reasonable in relation to the value of the brokerage and research services received. In seeking best execution, the determinative factor is not the lowest possible cost, but whether the transaction represents the best qualitative execution, taking into consideration the full range of a broker-dealer’s services, including among others, the value of research provided, execution capability, commission rates, and responsiveness. Consistent with the foregoing, while Hightower will seek competitive rates, it may not necessarily obtain the lowest possible commission rates for client transactions. In addition, HTA may receive certain products and services from broker/dealers that are customary in the course of an institutional brokerage relationship. To the best of Hightower’s knowledge, these services are generally made available to all institutional investment advisers doing business with these broker/dealers. These bundled services are made available to Hightower on an unsolicited basis and without regard to the rates of commissions charged or paid by clients or the volume of business directed to these broker/dealers. Since these products and services are merely made available by broker/dealers as part of a bundled business package to Hightower, Hightower does not consider products and services received in this context to be “soft dollars.”