HighTower Advisors Reviews | Glassdoor

HighTower Advisors Reviews

Updated September 4, 2017
37 reviews

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3.9
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Elliot S. Weissbluth
25 Ratings

37 Employee Reviews

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  1. "Great"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Recommends
    Positive Outlook

    I worked at HighTower Advisors (Less than a year)

    Pros

    Good place to work. Dynamic and revolutionizing. Constant change is accepted when of the better.

    Cons

    Constant work. Expect to be on at all times. Building a company is not for the weak, nor is it a part time job. If you want easy, stick to the stuffy wirehouse model and work from 8-5.

    Advice to Management

    Keep listening to your builders. They're the ones who want to be there and will take the company to the next level.


  2. Helpful (4)

    "Analyst"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at HighTower Advisors full-time (More than 3 years)

    Pros

    Got to work with some great advisors, sophisticated client base, and had a terrific introduction to the industry.

    It was also nice knowing I had a direct input to the company through my partners. I knew they would get my point across whether an idea was accepted or not. Very open architecture. Not saying it matter in the end, but was nice to have some kind of voice at a big company.

    Cons

    It was a smaller company when I started, but it truly was not a place for a younger advisor. As is consistent with other advisory firms, management does not care about you unless you are a producer and do not attempt to develop young advisors. The performance reporting software was absolutely terrible and beta testing any software was always a bad idea because your team got stuck testing all the bugs.

    Why would you ever become a managing partner if there is a huge overhead cost as well as them taking a majority share without knowing exactly how much your stock is worth?

    Advice to Management

    HT is becoming a launchpad for Wirehouse advisors to go independent. Don't keep the rank and file employees in the dark and treat them better. When an employee leaves, it really hurts the team they were working with.

  3. Helpful (7)

    "Great vision, but no true leaders to execute"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee
    Former Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at HighTower Advisors full-time (More than 3 years)

    Pros

    I learned a great deal from working there.

    Cons

    You are told you can express your opinions and fight for things you believe will make a difference, but quite often it falls on deaf ears.
    People are promoted not based on skill, but more who you know. Credit/recognition is quite often given to the upper management because they take credit for all the work that is actually done by others.
    Leadership changed over the years and the company no longer became a good place to work.
    No work/life balance- Expected to work too many hours and were looked down upon if you didn't.

    Advice to Management

    Appreciate your employees. Those in the company should not be allowed to be treated differently depending on who you are. Take a good look at Management and get rid of those that are toxic.


  4. Helpful (7)

    "A Disfunctional Organization"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Chicago, IL
    Former Employee - Anonymous Employee in Chicago, IL
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at HighTower Advisors full-time (More than 3 years)

    Pros

    This is a good place to start if you want to get your foot in the door.

    Cons

    Upper level management is terrible and are not held accountable for their actions. This is not the place to be if you value being treated like a human being. Yes, if you walk around the office everyone is smiling and seems to be happy but the reality is that most people are miserable. They hold monthly meetings for employees to speak freely in an open forum but ignore the fact that there are serious problems - under staffed and over managed. It's rare people stay over 2 years, and not because they are lazy, but because everyone is working around the clock and get tired of being treated poorly.

    Advice to Management

    Fully staff your departments so that your employees do not burn out. Stop promoting bad behavior and unprofessionalism. These executives you think are so great are really not, they manage up. Start making real changes instead of ignoring what's really going on. There's a difference between a manager and a leader, you need more leaders.


  5. Helpful (7)

    "No place to build a career"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    Pros

    Some extremely dedicated and hard working people, but most are at the manager level or below. Some true quality advisor teams.

    Cons

    This place is filled with politics. If you're a "favorite" you can get away with gliding while those at lower levels or not in the "in" crowd are worked to death for wages well below market value. Title inflation is out of control...Executive and Director titles handed out based on favoritism rather than skill. So many managers who are toxic and have no business managing people.

    Advice to Management

    Evaluate your leadership immediately and make the necessary changes to create a good environment for everyone. Stop the management by intimidation or you will continue to experience high turnover.


  6. "Managing Director, Partner"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee in New York, NY
    Current Employee - Anonymous Employee in New York, NY
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at HighTower Advisors full-time (More than 5 years)

    Pros

    Exceptional management, great advisor support and consistent investment in culture, platform, technology and operations. Good benefits and 401(k). Open-minded leadership.

    Cons

    I have no complaints. I came from a wirehouse, and the differences between life at a brokerage firm and life at an independent are like night and day.

    Advice to Management

    Keep investing in tools for clients to plan with their assets, and for advisors to invest and support their clients and teammates.


  7. Helpful (8)

    "HTA"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Neutral Outlook
    Approves of CEO

    Pros

    Most people are extremely dedicated and hardworking. Very collaborative environment with people working together to fix problems. Ambitious plans for growth.

    Cons

    Several people in key leadership positions struggle to effectively balance long-term goals with the immediate realities of available resources. Important positions have been left unfilled, or replaced with much less experienced employees. One of these people should not be in charge of managing employees, they are utterly incompetent and extremely unprofessional.

  8. Helpful (2)

    "Head of Business Development"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Head of Business Development in Washington, DC
    Former Employee - Head of Business Development in Washington, DC
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Highly motivated firm. Focused business approach. Easy model for potential Clients to understand (flat fees). Growing firm.

    Cons

    In a business sector that is under attack and under severe pricing pressure. Tries to make their investment process unique when essentially it is the exact same as all the traditional Wire Houses.

    Advice to Management

    Avoid price as the main issue be focusing on the benefits you deliver. Pay close attention to the Department of Labor ruling on Fiduciary requirements- this is a real game changer.


  9. Helpful (6)

    "Obstructed by politics"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Doesn't Recommend
    Disapproves of CEO

    I have been working at HighTower Advisors full-time (More than 3 years)

    Pros

    The people are the best part of the firm.

    Cons

    Too many to list, bottom line the firm is filled with political games and favorites. So many hardworking people are taken for granted and there are many people in many departments who have no business managing people or making decisions. Scroll the glass door reviews and nearly all of the high scores are written by the people who are favored or their subordinates. The president used to be a favorite of employees and now he is just a shell of a leader who can no longer look people in the eye with genuine sincerity.

    Advice to Management

    Please read the honest reviews listed on this site and make some changes. Also have the courage to get rid of the people who are politically connected but do NOTHING. Spend that money on rewarding your hardworking, underpaid staff.


  10. Helpful (1)

    "HighTower Advisors"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Anonymous Employee
    Current Employee - Anonymous Employee
    Recommends
    Positive Outlook
    Approves of CEO

    Pros

    Benefits of owning your own business with the support of a brokerage firm - Compliance, Marketing, Trading, Research Access, without having to push products

    Cons

    Running your own business is a big transition at first - especially coming from a brokerage firm. You have your own P&L, etc that you have to manage on top of everything else.


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