HighTower Advisors has signed a breakaway team managing $500 million in client assets.
Former UBS advisors J. Emmett Towey and J. Michael Cantore III will lead TC Wealth Management as partners and managing directors. This is their third collaboration after heading teams at Citigroup Smith Barney and UBS, according to a release announcing the partnership.
Senior advisor Towey has 20 years of experience in the securities industry and Cantore has 16 years, according to FINRA records. Both advisors wore multiple hats at UBS, where they served as senior vice presidents and corporate stock benefit consultants. Cantore also worked as a portfolio manager. The pair worked at the wirehouse for over seven years.
When we assessed the future of our team and the optimal environment to grow our business - and compete by delivering superior investment solutions to our clients - there was really only one choice, Cantore said in the statement. HighTowers genuine dedication to clients and its unique open source platform proved a perfect fit for our next chapter.
The new team will also include two members of the former UBS Towey Cantore team. Director Michael Tobin and operations director Jennifer Doran have left the wirehouse to join TC Wealth Management.
HighTower brought in more than a dozen breakaway advisors to its network last year. The fast-growing private wealth management firm says it is on pace to exceed that number in 2015.
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