HighTower Advisors recruited a team managing more than $260 million in client assets ― the 22nd transaction for the firm this year.
The newly independent team, Hill Wealth Management, is led by managing director Andrew Hill and is based in Alpharetta, Georgia, a suburb of Atlanta. The team left SunTrust Wealth Management.
“HighTower's commitment to the fiduciary standard aligns with our team's values and the way we approach serving our clients,” Hill said in a statement.
SunTrust declined to comment.
Hill has 24 years of experience, according to HighTower. He began his career with Smith Barney in 1994, per BrokerCheck records, before landing at SunTrust Investment Services in 1997.
Hill also held positions at Morgan Stanley and Northwestern Mutual Life, according to a release.
Joining him at Hill Wealth Management are Natalie Perdomo, senior director of operations, and Christina Andrzejewski, senior director of client communications.
PICKING UP PACE
The 22 transactions have made 2017 the busiest year so far for HighTower, according to the firm.
Among the largest deals, HighTower landed WealthTrust, an RIA aggregator with over $6 billion in client assets, in April.
Managing director Kimberly Papedis says HighTower is “purpose-built” to serve fiduciary-minded advisors.
“2017 is our biggest year ever for growth,” Papedis says, “and we extend a warm welcome to Hill Wealth Management and their clients as they join our community.”
Yet while the firm continues to expand, two prominent RIAs, managing nearly $3 billion in client assets, left HighTower in July. Only weeks later, HighTower’s president and seven-year veteran Michael LaMena also left the firm for Bronfman Rothschild.