Frequently Asked Questions



GENERAL


Why are you launching your own wealth management practice?

As the financial services world has evolved, so have we. Now, as a registered investment advisor representative, we are able to provide a much wider range of services by partnering with Hightower and Charles Schwab. What has not changed is our personal service and dedication to serving your interests; our ability to uphold these core values has only been enhanced.

Over the years, it has become apparent to us that the traditional brokerage model lacks the structure we believe is necessary to meet the needs of today’s investors in our ever-changing world. Offering you comprehensive and customized solutions has become more and more limited in this environment, leading to our decision to launch our own business with the support of a sophisticated, independent platform.

After months of research and analysis, both companies stood out from the competition for their ability to deliver solutions for today’s clients. Their platforms empower advisors to select quality solutions, resources, and products from strategic partners and vendors across the financial services industry while simultaneously fostering competitive, enterprise-level pricing.




HIGHTOWER


Who is Hightower?

Hightower is a national wealth management firm offering a model that blends objective wealth management advice with a robust technology and services platform. The company is headquartered in Chicago and maintains corporate centers in New York and San Francisco, with branch offices across the country.

Established in 2008, Hightower’s sophisticated platform and growing national presence has attracted some of the industry’s most successful financial advisors. With 87 practices across 32 states, its advisors currently oversee nearly $50 billion in client assets.


Were you compensated to join Hightower?

We received no compensation from Hightower. HMA is making the investment to start our new practice, which is now supported by the Hightower platform, a business model that empowers us to select services we need while also gaining access to Hightower’s exclusive community, sophisticated resources, and pricing leverage.


You say Hightower provides support via an open-source platform— What does this mean?

Hightower provides access to open-source resources and solutions. To allow us to build and implement wealth management strategies tailored to each client's needs and help them reach their goals and objectives, we now have access to a wide array of sophisticated, high-quality options from a host of third-party providers. This includes research, manager due diligence, technology, institutional investment managers, financial planning software, trust, insurance and estate planning services, and even independent custodians and trading platforms. Since the principal clearing and custodial firms, as well as the 45 contra-trading firms, know they are competing for our business, they are incentivized to deliver high-quality service and cost-effective execution.




MY ACCOUNT


Where will client assets be held, and how safe will they be?

We selected Schwab Institutional, a division of Charles Schwab, believing that they offer the strength and support of a trusted brand. Schwab holds more than $3.32 trillion in assets, and their long history of providing asset safety, client service, trading and technology support aligns both with our values and criteria for servicing your needs. SIPC, insurance protections and asset safeguards remain intact.


Will you be able to view and analyze assets I own outside of Schwab and HMA?

Yes. We have arranged to use reporting software that can provide you with truly comprehensive financial reporting. With your consent, we can view accounts held outside of Schwab (such as bank accounts, company 401(k) plans, and accounts at other investment firms). We can produce detailed financial reports for your accounts, allowing us to provide integrated, holistic advice.


Will current banking functions like checking, debit cards, auto transfer and/or direct deposit linked to my accounts at my current wealth management firm be available at HMA?

You will be able to set up all of these banking functions with a new account at Schwab. However, we encourage you to choose the banking arrangement that works for you. Our team will communicate with you to help coordinate your banking with your investment accounts.


How long will it take for accounts to transfer?

For most clients, a complete transfer of their accounts takes less than two weeks.

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