A Merrill Lynch adviser who managed $315 million in client assets was lured away by fast-growing aggregator HighTower, the firm said.

Denver Gilliand signed on with HighTower to launch an office in Minneapolis. "When I did my due diligence process, I was really looking at what would be the best structure for the clients now and in the future," Gilliand says, citing HighTower's fiduciary business model as a key factor in the move, as well as its open-architecture and lack of proprietary products.

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