Founded in 2008 and headquartered in Chicago, Hightower Advisors operates through a nationwide network of independent advisory teams that deliver fiduciary financial advice, supported by its investment research, compliance, and technology infrastructure.
Hightower Advisors offers comprehensive wealth management services, including portfolio management, financial planning, estate and retirement strategies, and advisory services for business owners.
Each advisor tailors investment strategies to clients’ goals, risk appetite, and expected time horizons, combining personalized planning with access to institutional-level resources.
The wealth management firm provides discretionary and non-discretionary portfolio management, cash flow analysis, risk management, and access to third-party investment managers. Clients’ assets are held with custodians such as Charles Schwab and Fidelity, ensuring secure account management and transparent reporting.
Hightower Advisors combines independent fiduciary advisors with the scale and support of a national wealth management platform, offering a full-service approach that integrates investment strategy, financial planning, and long-term wealth preservation.
What are the pros and cons of Hightower Advisors?
Hightower Advisors offers clients personalized wealth management and acts in their clients’ best interests. Like any firm, it has both advantages and limitations depending on your financial goals and preferences.
The pros of Hightower Advisors
Independent advisor model: Advisors at Hightower operate independently and always act in clients’ best interests.
Comprehensive wealth management: Services include investment management, retirement and estate planning, tax and cash flow analysis, and advice for business owners, providing a holistic approach to financial planning.
National network of advisors: Clients can access local advisors across the US, and are supported by Hightower’s compliance, research, and technology infrastructure.
Institutional-grade custodians: Client assets are held with third-party custodians such as Charles Schwab and Fidelity, offering robust account protection and transparency.
Flexible management options: Clients can choose between discretionary and non-discretionary management, allowing various levels of involvement in investment decisions.
The cons of Hightower Advisors
Fee transparency varies: As Hightower’s advisory teams operate independently, fees and account minimums can differ by office, so clients should confirm details directly with their local advisor.
An advisor-led service: Hightower doesn’t provide automated digital portfolios or robo-advisor tools, so it may not appeal to investors seeking a low-cost, hands-off investing experience.
Account minimums vary: While Hightower Advisors doesn’t set a company-wide minimum investment requirement, individual advisory teams may set their own minimums based on service structure or fee arrangements. Investors with smaller portfolios may find the firm less cost-efficient, as advisory and transaction fees may be higher than anticipated.
Potential commission-related conflicts: Some advisors may receive commissions for insurance or product sales in addition to advisory fees, potentially creating a conflict of interest.
Hightower Advisors provides advisory and financial planning services through independently operated advisory practices that are supported by the firm’s national platform.
Each team maintains autonomy in managing client relationships while leveraging shared resources, such as compliance, investment research, and technology. As a result, fees, account minimums, and services may vary, depending on the office.
Hightower Advisors fees: How much does it cost?
Hightower Advisors uses a flexible, negotiated fee structure that varies by practice and type of service selected. Unlike platforms with uniform pricing, Hightower’s independent advisory teams determine their own fees, which are disclosed in advisory agreements.
Clients typically pay an annual investment advisory fee based on a percentage of assets under management (AUM). This percentage may be applied in several ways, either as a flat rate, a blended ‘tiered waterfall’ rate across asset levels, or a ‘tiered floating’ rate where a flat percentage applies within specific asset ranges.
Fees are billed quarterly, either in advance or arrears, depending on the client’s agreement.
In addition to AUM-based fees, some advisory practices may charge fixed or hourly fees for financial planning, consulting, or other specialized services. Clients are also responsible for third-party costs, such as brokerage commissions, custodial charges, and fund expenses, which are separate from advisory fees.
| Fee type | How it’s charged | Notes |
|---|---|---|
| Advisory fee | Percentage of AUM (flat, tiered-waterfall, or tiered-floating). | Determined by each advisory practice. |
| Financial planning or consulting | Flat or hourly. | For specific or project-based services. |
| Other fees | Variable | Includes internal fund fees, brokerage commissions, custodial charges, and expenses from affiliated or third-party investment vehicles. |
Hightower Advisors charges asset-based advisory fees that may use flat or tiered structures, with optional fixed or hourly planning fees for specialized services.
Clients also pay other fees such as custodial, brokerage, and fund-related expenses. All applicable fees are disclosed in advance in advisory and investment documents.
What is the minimum account size at Hightower Advisors?
Hightower Advisors does not impose a firm-wide minimum account size or annual fee to open or maintain an advisory relationship. Each advisory practice within the Hightower network has discretion to set its own minimum portfolio or fee requirements.
Some advisory teams primarily work with clients who have more than $1 million in investable assets, while others may accept clients with smaller portfolios or those who have high incomes and strong savings goals. Certain practices list specific thresholds such as $100,000, but these are not company-wide standards.
Even though there is no universal minimum, Hightower notes that its services may be less cost-effective for clients with smaller portfolios, since advisory fees and transaction costs could have a greater impact on returns.
Who should choose Hightower Advisors?
Hightower Advisors provides financial planning, investment management, and business consulting services to a broad range of clients, including individuals, families, retirement plans, trusts, estates, charities, corporations, and institutional investors.
The firm’s advisor-led model emphasizes transparency, independence, and acting in clients’ best interest, making it ideal for those seeking personalized, fiduciary-based wealth management.
Hightower Advisors works well for:
Individuals and families: Advisors provide comprehensive planning and portfolio management designed to help clients achieve long-term financial goals, from retirement to estate and legacy planning.
Business owners and corporate clients: Hightower provides investment advisory and business consulting services for corporations and other businesses through its network of advisory practices
Foundations and charities: It offers fiduciary investment oversight and planning solutions to support charities.
Retirement and pension plans: The firm offers ERISA and non-ERISA plans with advisory and sub-advisory services for plan sponsors and participants.
Clients who prefer direct advisor relationships: Each advisory practice provides services through experienced advisors, which are supported by Hightower’s centralized research, compliance, and operational resources.
Hightower Advisors may not be suitable for:
Cost-sensitive investors and those with smaller portfolios: As some advisory practices have minimum account sizes or fees, Hightower may be less accessible for investors with smaller portfolios or those seeking low fees.
Investors seeking automated or digital investing: The firm doesn’t offer robo-advisory or algorithm-driven portfolio management.
Short-term or self-directed traders: Hightower’s services are designed for long-term financial planning rather than frequent trading or speculative investing.
Hightower Advisors provides financial planning, investment management, and business consulting services to individuals, families, foundations, and institutional clients.
Its advisor-led model focuses on independent financial advice through locally operated practices supported by its national resources. The firm serves a wide range of clients, including individuals, retirement plans, trusts, estates, and corporations, under a fiduciary framework, so it acts in each client’s best interest.
Hightower Advisors: Is it secure?
Yes, Hightower Advisors operates under a regulated fiduciary framework and implements multiple layers of protection for client assets and personal data.
As an investment advisor firm registered with the Securities and Exchange Commission (SEC), it follows strict compliance and supervisory standards to safeguard client accounts and maintain transparent operations.
Client assets are not held directly by Hightower. They are maintained by independent third-party custodians such as Charles Schwab and Fidelity, which are SEC-registered broker-dealers and members of the Securities Investor Protection Corporation (SIPC).
SIPC coverage protects up to $500,000 per client (including $250,000 for cash) in the event of a broker failure, though it does not protect against investment losses.
Hightower Advisors has administrative, technical, and physical safeguards to protect non-public personal information and restricts access to authorized personnel.
It maintains information security policies that comply with federal privacy requirements, designed to prevent unauthorized use or disclosure of client data.
While no system is entirely risk-free, Hightower’s use of independent custodians, SEC oversight, and company-wide privacy and supervisory controls provides security comparable to that of other major registered advisory firms.
Hightower Advisors: Customer service
Hightower delivers its services through advisory practices nationwide with advisors who operate independently while drawing on the firm’s platform for resources and support.
This allows clients to work directly with their local advisory team for planning, portfolio management, and ongoing support.
Clients typically talk with their advisor over the phone, email, and in-person meetings, with account administration handled by independent custodians who provide statements and additional account services.
Services offered can vary by practice because each office manages its own clients. The firm focuses on direct access and tailored guidance rather than a centralized call center.
Hightower Advisors: Mobile app
The wealth management firm offers clients mobile access through the Hightower Black Diamond app, available on the App Store for iPhone and iPad. The app gives clients access to account information, portfolio performance, and key documents.
In addition to Hightower’s app, many client accounts are custodied with third-party institutions such as Charles Schwab or Fidelity, whose secure digital platforms offer statements, transaction details, and other services.
As a result, the digital experience varies depending on each advisory practice’s chosen custodian.
ortfolio performance, and key documents.
In addition to Hightower’s app, many client accounts are custodied with third-party institutions such as Charles Schwab or Fidelity, whose secure digital platforms offer statements, transaction details, and other services.
As a result, the digital experience varies depending on each advisory practice’s chosen custodian.
Is Hightower Advisors worth it?
Whether Hightower Advisors is worth it depends on what kind of investor you are.
The firm is best suited for individuals, families, and institutions seeking personalized, advisor-led wealth management supported by a national platform. Clients who value direct access to fiduciary advisors benefit from Hightower’s blend of local autonomy and institutional resources, with flexibility through independent custodians.
For alternatives, investors might consider Mariner Wealth Advisors for a more centralized planning process, Lido Advisors for access to alternative investments and tax-integrated strategies, or Creative Planning for its strong emphasis on comprehensive financial and estate planning. Each offers a comparable advisor-led model but with distinct approaches to service structure, investment scope, and cost.