HighTower Increases Credit Facility To $150 Million To Finance Ongoing Growth

CHICAGO, Jan. 28, 2015 /PRNewswire/ --HighTower increased the $100 million revolving credit facility obtained last summer to $150 million. The facility now provides HighTower access to up to $150 million in financing from original lenders BMO Harris Bank and PNC Bank who are now joined by SunTrust Bank.

"HighTower's growth and momentum reflects the once-in-a-lifetime secular shift in the financial services industry," said Elliot Weissbluth, CEO, HighTower. "In a post credit crisis world, securing this kind of credit means that the company must demonstrate strong and sustainable financial health coupled with the ability to thoughtfully deploy the capital and grow profitably."

In 2014, Inc. magazine named HighTower to its list of the fastest growing private companies for the third consecutive year, an honor only approximately 200 companies enjoy. 

HighTower has nearly 400 employees in 20 states across the U.S.

Independent financial advisors on the HighTower platform experience an average year-over-year growth rate of nearly three times the industry average.

"This increased financing by three of the nation's leading banks reflects the strength of our business model and financial sustainability," said Larry Koehler, HighTower CFO. "It also reinforces the confidence in our unique business model and vision for the future."

For media inquiries, please contact Melinda Brodbeck, Jennifer Connelly Public Relations (JCPR), at 973-850-7348 or [email protected].

About HighTower

HighTower is an industry-leading financial services firm offering a unique platform that blends objective wealth management advice with innovative technology. Our dedication to transparency in wealth management for investors and comprehensive support for independent advisors sets us apart. See www.hightoweradvisors.com.

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SOURCE HighTower

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http://www.hightoweradvisors.com

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