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Hightower Holding
Hightower, led by CEO Bob Oros, is a PE-backed RIA aggregator providing advisory equity partnerships and institutional alternative investment access.
Hightower Holding
Hightower launched in 2008 under founder Elliot Weissbluth, who pioneered the model of buying equity stakes in financial advisory practices and centralizing back-office, investment, and compliance functions. Weissbluth stepped down as CEO in 2019, handing operations to Bob Oros. Private equity sponsor Thomas H. Lee Partners acquired a majority stake in 2017, recapitlizing the firm to accelerate adviser recruitment. The platform provides advisers access to a curated menu of alternative investments, including private credit funds, direct real estate deals, and hedge fund allocations, alongside traditional managed accounts. Hightower negotiates institutional fee breaks and minimums across asset classes—advisers commit client capital through a centralized investment office rather than sourcing each deal independently. The firm's investment committee has approved allocations to real estate vehicles targeting multifamily and industrial properties, as well as credit strategies from managers like Golub Capital (per the firm's public communications). Hightower does not disclose total advisory assets or firm-level AUM. The firm reports holding equity stakes in over 130 advisory businesses across the United States as of early 2024 (public record). In early 2024, Hightower acquired a minority stake in $2.4B RIA Wealth Enhancement Group, a rare inter-RIA investment signaling consolidation among scaled platforms. The firm maintains its primary operations in Chicago with no disclosed international offices. The firm's structural distinction is its permanent-equity model: advisory practices sell a minority or majority stake to Hightower in exchange for centralized investment resources and operational support, but the platform does not force full integration or rebranding. Advisers retain day-to-day autonomy while gaining institutional-grade alternative investment access—a hybrid that competes against both wirehouse retirement packages and fully integrated consolidators like Focus Financial.
General information
Firm type
Asset Manager
Year founded
2008
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Bob Oros
CEO
Sector focus
Frequently asked questions
Who owns Hightower and how is it governed?
Private equity firm Thomas H. Lee Partners has held a majority stake in Hightower since 2017. Day-to-day operations are run by CEO Bob Oros, who replaced founder Elliot Weissbluth in 2019. The board includes both THL representatives and independent directors.
How does Hightower source and onboard advisory practices?
Hightower targets breakaway wirehouse teams and independent RIAs seeking scale without giving up operational control. The firm acquires a minority or majority equity stake, integrates the practice onto its centralized technology and compliance stack, and provides access to a curated alternative investment platform. Advisers retain local branding and client-service autonomy.
What alternative investments does Hightower offer to its adviser network?
Hightower's investment office sources institutional private credit funds, direct real estate partnerships, and hedge fund allocations that are then made available to advisers on its platform. By aggregating client commitments, the firm negotiates lower minimums and fee structures typically unavailable to individual RIAs. Managers have included Golub Capital and other institutional credit providers (per the firm's public disclosures).
Does Hightower operate as a single advisory firm or a platform?
Hightower is a holding company that owns equity stakes in over 130 independent advisory businesses. Each practice operates under its own brand and retains discretion over client portfolios, but benefits from Hightower's shared compliance, technology, and investment platform. This is distinct from a roll-up model where all practices are eventually rebranded into a single entity.
How does Hightower's model differ from competitors like Focus Financial or Dynasty?
Unlike Focus Financial, which typically buys practices outright and operates a fully integrated multi-boutique structure, Hightower often takes minority stakes and allows firms to retain greater day-to-day independence. Compared to Dynasty, which is primarily a service provider without equity ownership in its network firms, Hightower's model ties both parties through permanent equity and shared economics.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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