HomeLife InsuranceHightower Lays Off About 5% of Body of workers

Hightower Lays Off About 5% of Body of workers

Hightower, like Envestnet and Orion Marketing consultant Answers just a few days previous, mentioned it was once reducing jobs.

In Hightower’s case, about 5% of the Chicago-based registered funding consultant’s team of workers are affected, an organization spokesperson mentioned Wednesday.

The layoffs had been “around the company group” however “now not advisors,” and there have been no adjustments a few of the company’s executives as a part of those “contemporary inside changes,” consistent with the spokesperson.

“It’s vital to elucidate that those choices had been made as a part of our ongoing strategic realignment, geared toward optimizing our assets and making sure the long-term luck of our industry,” the Hightower spokesperson mentioned.

The spokesperson added: “We stay assured in our monetary balance and are dedicated to handing over remarkable provider to our purchasers inside the Hightower group as we transfer ahead.”

Hightower, which as of June 30 had about $131 billion in belongings underneath manamgement, has introduced a number of RIA acquisitions and investments in 2023.

In August, the corporate mentioned it facilitated a sub-acquisition on behalf of Highland Personal Wealth Control, its advisory industry founded in Bellevue, Washington, with Trellis Advisors, an RIA founded in Ellensburg, Washington, with over $470 million in AUM.

In overdue Might, the corporate mentioned it received RIA Vigilant Wealth Control, a full-service wealth control industry with places of work in Portland, Maine, and Portsmouth, New Hampshire, that manages about $2.3 billion in consumer belongings throughout 500 families.



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