Wealth manager, independent · Chicago, IL
Hightower Advisors, LLC
SEC-registered investment adviser · CRD 145323 · SEC 801-69625
At a glance
Hightower Advisors, LLC is an SEC-registered investment adviser based in Chicago, Illinois, with $199B in regulatory assets under management as of its Form ADV filed September 3, 2026. It reports 62,807 individual clients, 29,177 of them high-net-worth, holding an average of about $2.8 million each, and 1,983 employees. That ranks it 5th among the nation’s 5,657 independent wealth management RIAs and 1st of 226 in Illinois. It reports 3 custodians for its clients’ separately managed accounts: Fidelity, Charles Schwab and BNY Pershing.
Main office 312-962-3800hightoweradvisors.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $199B
- Rank among independent wealth managers
- #5 of 5,657
- Rank among all SEC RIAs
- #133 of 17,210
- Rank in Illinois
- #1 of 226
- Individual clients
- 62,807
- High-net-worth clients
- 29,177
- Accounts
- 220,222
- Discretionary
- 96% of AUM
- Employees
- 1,983
- Advisory staff
- 953
- Offices
- 133
Owners and executives on its Form ADV
- Daniel J. BergChief Financial Officer
- Douglas J. BessoChief Technology Officer
- Barry A. CovielloNational Director of Field Supervision
- Jared N. SchwartzChief Risk Officer
- Barrett LopezGeneral Counsel, Corporate and M&a
- Lawrence J. RestieriChief Executive Officer
- Patrick J. DunneChief Operating Officer
- Jyothi San JuanExecutive Director, Compliance
- Michael BernardoChief Compliance Officer
- Scott R. HadleyChief Advisory Officer
Custody and brokerage
Broker-dealer
Hybrid RIA
Hightower Advisors, LLC is a hybrid RIA: 598 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Hightower Securities, LLC.
- Hightower Securities, LLC ↗CRD 116681
An introducing broker-dealer: its trades clear through National Financial Services (Fidelity), Pershing and J.P. Morgan, which hold the brokerage accounts. Its annual audited report filed with the SEC, February 2026
Its Form ADV brochure (filed August 2026) names Hightower Securities as the broker-dealer its advisers are registered with.
Advisors can also be registered representatives of Hightower Securities and receive compensation from these activities as well.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| High-net-worth individuals | 29,177 | $157B | 79% |
| Individuals | 33,630 | $21B | 11% |
| Corporations or other businesses | 640 | $16B | 8% |
| Charitable organizations | 357 | $2.8B | 1% |
| Pension and profit sharing plans | 221 | $796M | <1% |
| Pooled investment vehicles | 1 | $181M | <1% |
| Insurance companies | 9 | $42M | <1% |
| State or municipal government entities | – | $36M | <1% |
| Banking or thrift institutions | – | $20M | <1% |
Private funds
Hightower Advisors, LLC reports 1 private funds with $182M in gross assets: other private funds (Form ADV Item 7.B).
Disciplinary disclosures
Hightower Advisors, LLC answers yes to 9 disclosure items in Item 11 of Form ADV (criminal, regulatory or civil matters involving the firm or its advisory affiliates). Read the details on the SEC’s adviser search ↗
Services
- Financial planning
- Portfolio management for individuals and small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
- Other services
How it’s paid
- A percentage of assets under management
- Hourly charges
- Fixed fees
- Other
Form ADV and brochures on the SEC’s adviser search ↗hightoweradvisors.com ↗Hightower Advisors, LLC news and profile →
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Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 27 peers of its type and size
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- 10 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Free while Atlas launches: create a free account and confirm your email. Every figure comes from SEC filings.
Similar-size RIAs in Illinois
All of Illinois →| Firm | Regulatory AUM | Clients |
|---|---|---|
| Cresset Asset Management, LLCChicago | $79B | 4,746 |
| CIBC Private Wealth Advisors, Inc.Chicago | $68B | 8,083 |
| Savant Wealth ManagementRockford | $56B | 23,288 |
| Choreo, LLCRockford | $19B | 6,794 |
| The Mather Group, LLCChicago | $13B | 4,773 |
| Curi Capital, LLCChicago | $12B | 2,865 |
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Background
Questions
How much does Hightower Advisors, LLC manage?
Hightower Advisors, LLC reports $199B in regulatory assets under management across 220,222 accounts, 96% of it on a discretionary basis, on its Form ADV filed September 3, 2026.
How many clients does Hightower Advisors, LLC have?
It reports 62,807 individual clients: 29,177 high-net-worth individuals and 33,630 other individuals. Individuals account for about 90% of its regulatory assets.
Where is Hightower Advisors, LLC headquartered?
Its main office is in Chicago, Illinois. It reports 133 offices in total and 1,983 employees, 953 of whom perform investment advisory functions.
How does Hightower Advisors, LLC charge clients?
On Form ADV it lists these forms of compensation: a percentage of assets under management; hourly charges; fixed fees; other. Fees and minimums are set out in its Form ADV Part 2A brochure, available on the SEC’s adviser search.
What custodian does Hightower Advisors, LLC use?
It reports 3 custodians for its clients’ separately managed accounts: Fidelity, Charles Schwab and BNY Pershing. On Schedule D of its Form ADV filed September 3, 2026, it reports these amounts held: Fidelity ($40B); Charles Schwab ($31B); BNY Pershing ($16B). Form ADV lists only custodians holding 10% or more of separately managed account assets.
Is Hightower Advisors, LLC a hybrid RIA with a broker-dealer?
Hightower Advisors, LLC is a hybrid RIA: 598 of its employees are also registered representatives of a broker-dealer. It names an affiliated broker-dealer: Hightower Securities, LLC. Hightower Securities, LLC clears through National Financial Services (Fidelity), Pershing and J.P. Morgan, according to its annual report filed with the SEC. Those representatives can also earn commissions on brokerage business through the broker-dealer, where different rules apply than for advisory accounts.
Is Hightower Advisors, LLC a fiduciary?
As an SEC-registered investment adviser, Hightower Advisors, LLC owes its advisory clients a fiduciary duty under the Investment Advisers Act of 1940, which includes duties of care and loyalty. 598 of its employees are also registered representatives of a broker-dealer, where different rules apply to brokerage recommendations.
Where these numbers come from
Every figure is Hightower Advisors, LLC’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-09-03), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Its national rank compares it with every US-based independent wealth management RIA, the same field as The Largest RIAs. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →