Guggenheim Partners will be providing advisors at HighTower, a Chicago-based advisor-owned company with a growing national footprint, with access to investment banking, risk tolerance tools and other sophisticated services.

HighTower announced the alliance with Guggeheim yesterday. HighTower advisors, who serve high-net-worth individuals and institutional clients, will be able to access the suite of services through Guggenheim Investment Advisory Solutions.

"We are proud of our new alliance with Guggenheim, which has demonstrated a clear commitment to understanding the complex needs of high-net-worth families," said HighTower CEO Elliot Weissbluth.

As part of the agreement, HighTower advisors will also be able to utilize Riskometry, Guggenheim's proprietary approach to assessing risk-tolerance. Developed by Nobel Laureate in Economics Daniel Kahneman together with Guggenheim, Riskometry applies behavioral finance concepts to help high-net-worth investors understand their specific attitudes toward risk. Advisors trained in Riskometry may use the approach with their clients, receiving tailored portfolio construction recommendations from Guggenheim.

HighTower is a well-capitalized company that began operations in late 2008 and is backed by several outside institutional investor groups. That includes Red Eagle Ventures, a private-equity firm led by David Pottruck, the former CEO and president of Charles Schwab and a current HighTower board member. In the last couple of years, HighTower has attracted many leading advisory teams to leave wirehouses and join with it.

Guggenheim Partners is a global, independent, privately held, diversified financial services firm with more than $100 billion in assets under supervision. It has 1,500 employees in more than 20 cities around the world with principal offices in Chicago, New York, Los Angeles, London, Dublin, Geneva, Dubai, Hong Kong, Singapore and Mumbai.