Chicago-based HighTower has continued its march around the country bringing more advisors into its group with the latest being two teams from Las Vegas with assets under management of $800 million.
HighTower, a partnership of advisory firms that serves wealthy families and institutional clients, announced today that Anderson & Delutri and MNA Group have signed on and will work out of HighTower's newly opened office in Las Vegas.
MNA Group and Anderson & Delutri are the ninth and tenth teams to join HighTower in 2012, and the 34th and 35th teams to enter into the HighTower partnership. The firms were previously part of Bank of America Merrill Lynch.
"These are two of the best advisor teams in this region, who both came to the same conclusion that HighTower is the future of the financial services industry, and they would be able to serve their clients as true fiduciaries by joining our partnership," said Mike Papedis, executive vice president of business development at HighTower. "Teams such as these are the linchpin of our continued growth as HighTower expands into new markets."
The principals of Anderson & Delutri -- Hugh Anderson and Sheila Delutri -- each spent more than 30 years at Merrill Lynch. They manage $450 million in assets and offer holistic wealth management, including intergenerational asset management services, to affluent families.
The principals of MNA Group -- Mike PeQueen, CFA, CFP; Ned Evans, CRPC; and Adam Thurgood, CFA -- have a combined 60 years of experience in the financial services industry. They joined Merrill Lynch in 2002 after working for Prudential Securities. The team manages $340 million in assets and primarily serves clients with between $2 million and $5 million in investable assets. MNA Group's proprietary investment management process focuses on risk-adjusted returns when constructing and managing client portfolios.