Oros said that Hightower clients will pay a fee for the firm’s trust services comparable to those charged by industry third parties.
“The price is not what will drive usage of Hightower National Trust Company,” he said in the email. “It’s the capability of (Hightower) advisors to have a single resource for business services, including multifamily generational wealth services.”
“The trust company is a resource for advisors and their clients,” he said in the email. “Some may feel that utilizing our own trust company will give them broader access to solutions that serve their clients, enabling them to feel confident that their clients and their families will be in good hands for many years to come.”
As of December 31, Hightower reported assets under administration (AUA) of about $144 billion and assets under management (AUM) of $117.8 billion.