A team of wealth managers, led by a former UBS portfolio manager, have joined HighTower, an open-source, advisor-owned financial services company.

The Chicago-based company announced Wednesday that it added the Rosenau/Paul Group. The group is led by Pamela Rosenau, who was previously a portfolio manager at UBS. She ranked on the Barron's Top 100 Women Financial Advisors list, and was featured as one of Money magazine’s 10 All-Star Brokers. Dennis Paul, her partner, brings a decade of industry experience and an extensive background in fixed income portfolio management strategies.

HighTower also announced the expansion of its capital markets, prime brokerage execution and research services to better support advisors acting as portfolio managers and traditional wealth managers.

"HighTower is committed to delivering the breadth of capabilities that advisors at major wirehouse firms are accustomed to, but in an open source model that provides greater autonomy and better serves end-client investors," said Michael LaMena, the chief operations officer of HighTower. Before joining HighTower, LaMena was the executive director of private wealth management operations at Morgan Stanley.

HighTower has deepened its capabilities through new strategic relationships with several research providers. By providing expanded prime brokerage and middle-market capabilities, HighTower hopes to add more advisors and customers.

HighTower is based in Chicago and has offices in New York and San Francisco.Its strategy has been to attract advisors from wirehouses. In April, it hired regional directors for the Midwestern and Western regions to speed its growth strategy.

The Chicago-based registered investment advisory firm has been on a hiring streak since it launched in December 2008, primarily targeting successful wirehouse reps with high-net-worth practices. In April, it hired two advisors from Morgan Stanley Smith Barney.

HighTower is relatively small in terms of advisors with 12 teams of RIAs, but they’re heavy hitters in terms of assets, weighing in at $16 billion. The West Coast recruiter said that teams must manage a minimum $250 million in assets to show up on HighTower’s radar.