Earlier this year, Mike Papedis, HighTower’s managing director and head of RIA operations, departed the company to start his own consulting firm, Fusion Financial Parners.
Nevertheless, in a Thursday press release HighTower reported that it was hiring three executives after bringing on an additional $10 billion in client assets in the first half of 2017 from 21 new advisor teams. Most notably, in April the Chicago-based aggregator purchased 10 advisory firms formerly affiliated with WealthTrust with a combined $6.4 billion AUM from Lee Equity Partners
At the time of the release, HighTower reported nearly $50 billion in total client assets.