Chicago-based HighTower announced the addition of a $320 million advisory group located in Sarasota, Fla.

The Otto Group joins HighTower after breaking away from SunTrust.

Led by financial advisor Matt Otto, who will become managing director under HighTower, The Otto Group focuses on comprehensive asset management and estate strategies for high-net-worth accredited investors and specializes in alternatives, options strategies, equity derivatives, fixed income and equity hedging strategies, and managed money.

As of March 14, HighTower now has 147 Advisors located in 47 offices scattered through 20 states.