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§ Private Profile · 200 West Madison, Chicago, Illinois, United States
Wealth management firm providing investment and planning services for individuals, foundations, and corporations.
Hightower is a Chicago-based wealth management firm providing comprehensive investment, financial, and retirement planning services to individuals, foundations, family offices, and corporations, including 401(k) consulting and cash management. Operating as a registered investment advisor, the firm empowers independent wealth advisors through capital solutions, operational support, and scale to grow their businesses effectively. Hightower manages over $300 billion in assets under management, supporting 140 advisory teams across 35 states and the District of Columbia, and employs between 501-1000 individuals. Key leadership includes CEO Larry Restieri, who joined in June 2025, and Chairman Bob Oros. The firm also completed a strategic investment in Financial Planning and Information Services (FPIS), led by Ryan Wempe, Dan Budinger, and Rachel Brown. Founded in 2008, Hightower has evolved into a comprehensive wealth management firm.
Hightower has raised $21.5M across 3 funding rounds.
Key people at Hightower.
Hightower has raised $21.5M in total across 3 funding rounds.
# HighTower: A Technology Company Overview
HighTower is a national financial services company that operates as both an advisor-owned firm and a technology platform provider for wealth management professionals.[2] The company serves high-net-worth and institutional clients through a network of independent financial advisors while simultaneously developing sophisticated technology infrastructure to support their operations.
HighTower functions as a dually-registered, multi-custodial financial services firm headquartered in Chicago with corporate centers in New York and San Francisco.[2] The company's core mission centers on providing independent financial advisors with an integrated technology platform and access to diverse investment products without conflicts of interest. Rather than pushing proprietary investments, HighTower's philosophy emphasizes delivering "an independent and unobstructed view of the markets" to advisors and their clients.[2]
The company operates approximately 130 independent practices under a single broker-dealer structure, making it fundamentally different from traditional financial services firms.[3] Its technology platform—the HighTower Open Source Technology (HOST) platform—delivers access to industry-leading investment products, tools, research, and services while providing direct access to multiple custodians and clearing firms.[2]
HighTower was founded approximately 15 years before 2023 (around 2008) and emerged from a distinctive philosophy: building technology specifically designed by advisors for advisors.[2][3] The company's founding reflected a recognition that existing financial services platforms were not adequately serving the needs of independent wealth management practices. Rather than adopting off-the-shelf solutions, HighTower's leadership made the strategic decision to build much of its technology infrastructure from scratch, starting with a deep understanding of their primary client—the independent financial advisor.[3]
A pivotal moment in the company's evolution came when leadership recognized the importance of ecosystem integration. They negotiated enterprise agreements with major custody and clearing firms, creating what was described as "the nearly impossible first" achievement: fully integrating an RIA (Registered Investment Advisor) and broker-dealer while maintaining multi-custodial flexibility.[2]
HighTower's competitive advantages center on its technology-first approach and structural independence:
HighTower represents a broader trend toward technology-enabled independence in wealth management. As traditional financial institutions consolidate and push proprietary products, HighTower has positioned itself as an alternative infrastructure layer for advisors seeking to maintain independence while accessing institutional-grade technology.
The company's emphasis on AI and machine learning development signals alignment with industry-wide trends toward automation and data-driven decision-making in financial services.[4] This positions HighTower to benefit from the broader capital expenditure wave in AI infrastructure that is reshaping financial technology.
HighTower's trajectory suggests continued expansion as a technology-enabled platform for independent wealth management. The firm's investment in emerging technologies and machine learning capabilities indicates preparation for an AI-integrated future in financial advisory services. As wealth management increasingly demands sophisticated technology infrastructure, HighTower's advisor-owned model and custom platform approach provide competitive advantages against both traditional incumbents and newer fintech entrants.
The company's success ultimately depends on its ability to continuously innovate its platform while maintaining the independence and flexibility that attracted advisors in the first place—a balance that has defined its strategy since inception.
Hightower has raised $21.5M across 3 funding rounds. Most recently, it raised $13.0M Series B in May 2015.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 19, 2015 | $13M Series B | Steve Schlafman | Ethan Kurzweil, Pritzker Group Venture Capital, Joshua Kushner | Announced |
| Aug 21, 2014 | $6.5M Series A | Ethan Kurzweil, Joshua Kushner | Brandon Shorenstein, David Tisch, LEE Linden, RED Swan Ventures, RRE Ventures | Announced |
| Dec 1, 2013 | $2M Seed | Ethan Kurzweil, Thrive Capital | Adverb Ventures, AME Cloud Ventures, Chloe Sladden, Bono, Caffeinated Capital, Electric Capital, Footwork, General Catalyst, Hardware Club, Heretic Ventures, Highbury Group, Kindred Ventures, Moxxie Ventures, Quiet Capital, SciFi VC, South Park Commons, Y Combinator, BEN Davenport, Bill TAI, Drew Houston, Julia Hartz, Aaron Levie, Brad Silverberg, Brandon Shorenstein, Chris H., David Tisch, Gary Vaynerchuk, Jason TAN, JOE Lonsdale, LEE Linden, RED Swan Ventures, Steve Schlafman | Announced |
Key people at Hightower.
Hightower has raised $21.5M in total across 3 funding rounds.
Hightower's investors include Steve Schlafman, Ethan Kurzweil, Pritzker Group Venture Capital, Joshua Kushner, Brandon Shorenstein, David Tisch, Lee Linden, Red Swan Ventures, RRE Ventures, Thrive Capital, Adverb Ventures, AME Cloud Ventures.