From the Desk of Jim Eccleston at Eccleston Law Offices:
HighTower is taking hits in the form of high profile advisor and team defections. Original partners received special deals, but recent press reports state they have nothing to show for as a result. It is likely that a few advisors may be “looking around” for better opportunities. A major problem reportedly is the way the firm managed its financing structure and cash flow.
Press reports suggest that the list of concerns goes on. Most important is profitability. The reason is that the equity structure is not compelling enough to retain the top advisor management, and many may be planning to leave the firm. News stories report that many observers predict a major collapse or a sell off within a year. We will keep readers posted.
The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.
