HighTower continues to draw in top wirehouse advisors with the addition of a $300 million team from UBS.
The 10thnew advisor team to join HighTower so far this year, Mark Kravietz will help to build out the firms presence with an office in Melville, New York. He is the firm's first team on Long Island, and HighTower expects that he will be a "lightening rod" for future recruits in the area, Kravietz said.
Were executing right on plan for 2013, the executive vice president at HighTower, Mike Papedis, said in a statement. Our goal is to be the destination of choice the OmniChannel for all wirehouse advisors seeking independence.
The Chicago-based firm has added 37 teams to its ranks since its inception in 2008, many of whom have come from the four large wirehouse firms.
Kravietz has over 25 years of industry experience. He began his career in 1986, according to public records with the Financial Industry Regulatory Authority and had been at UBS since 1994.
He was attracted to the independent model as well as the technology and product offerings for his high net worth clients, he said.
"I love the open architecture that hightower provides, and the platform that it provides. I feel that it has tremendous advantages for my clients," Kravietz said. In addition I will have the opportunity to share best practices with the top advisors in the country."
Joining as a managing director and partner at the firm, Kravietz comes aboard with his client associate, Cathy Crunden, and analyst Stefanie Andros.