HighTower Advisors has snapped up Morgan Stanley Smith Barney branch manager Ann T. Rieder in the latest acquisition for its targeted national hiring spree.
Rieder will oversee HighTower’s Midwest territory as a managing director based in HighTower’s Chicago office, where the firm is also headquartered. Rieder will also serve on HighTower’s Diversity Council, which aims to boost the diversity of the firm’s employee force, particularly with U.S. military veterans.
Rieder comes to HighTower after spending 15 years at Morgan Stanley Smith Barney. Most recently, she served as branch manager in Oakbrook Terrace, Ill., responsible for $2 billion in assets including the private client and corporate services business.
Rieder’s hiring is in line with HighTower’s strategy to hire top wealth management talent in targeted geographic areas across the country. In September, HighTower hired UBS Financial Services advisor Jeff Leventhal in Bethesda, Md.
HighTower, which was founded in 2008, aims to differentiate itself in the market with a model that provides its advisors with part ownership in the firm, while also including an open choice model and multi-custodial platform.
“We are actively recruiting the best talent from major Wall Street firms who understand how to support high net worth advisors,” HighTower Chief Executive Elliott Weissbluth said in a prepared statement. “Ann is part of our next generation of branch managers that will not have divided loyalty to the firm and the advisor.”