In this newly formed role, Picard and the Investment Solutions group will support advisors by expanding access to best-in-class private-market investment opportunities and custom portfolio consulting.
CHICAGO, July 27, 2022 /PRNewswire/ -- Hightower today announced that it has named Robert Picard to a newly created executive role of Managing Director, Head of Alternative Investments in the Hightower Investment Solutions group, where he will focus on providing Hightower advisors with expanded access to best-in-class private-market investments, preferred opportunities and custom portfolio consulting to support them in delivering differentiated strategies to their affluent clients.
Picard will focus on providing Hightower advisors with expanded access to best-in-class private-market investments.
The Investment Solutions group is available to Hightower's nationwide community of advisory businesses as a value-added, optional resource they can utilize to enhance their portfolio construction and asset allocation in both public and private investments. In his new role focusing on alternatives, Mr. Picard will leverage his deep relationships with asset managers in private equity, private credit, real estate, venture capital and other alternative asset classes to identify a diverse range of opportunities for Hightower advisors and their clients. He will also collaborate with advisors to incorporate their own investment ideas, while working closely with Hightower's due diligence team on all alternative strategies.
"As our advisors look to attract more high-net-worth and ultra-high-net-worth clients, the Investment Solutions group is here to support them in creating distinctive portfolios with institutional-class opportunities, preferred relationships and rigorous due diligence," said Stephanie Link, Hightower Chief Investment Strategist, Portfolio Manager and head of the Investment Solutions group. "Robert has many decades of experience consulting with advisors through multiple market cycles, bringing them new ideas to complement their portfolio allocations. He adds an exciting dimension to our team of senior investment leaders, and we're thrilled to welcome him to Hightower."
Mr. Picard has 32 years' experience on both the buy and sell side, having built multi-billion-dollar alternative investment programs at First Republic Private Wealth Management, The Carlyle Group/Rock Creek, Optima Fund Management, RBC Capital Markets and InfraHedge/State Street. In his most recent role as First Republic's managing director and head of alternative investments, he consolidated two alternative investment businesses into one platform and generated meaningful growth in both wealth management team participation and fund offerings across all asset classes. Prior to that, he spent more than a decade as founder and CEO of The Rumson Ridge Group, a consultancy focused on building alternative investment platforms. He is a graduate of the College de Geneve, and attended the University of Geneva Law School. Mr. Picard has spent much of his career performing due diligence on manager strategies, visiting over 1,000 firms globally in the last 25 years.
"Hightower's Investment Solutions group is playing an increasingly critical role in helping advisors identify new and disruptive private investments for families with complex financial needs," Picard said. "Through our expanded program, Hightower advisors will gain even greater access to preferred, hard-to-find alternative investment strategies with a level of professional portfolio consulting that would otherwise be unavailable to them. Those that choose to tap our group for ideas will gain significant additional insight that will help them distinguish themselves and grow their businesses."
The expanded alternatives program is part of Hightower's broader strategy of offering its advisory businesses streamlined access to institutional-class family-office services for their sophisticated clients. These services include access to a National Trust Company, estate & financial planning team and business management services such as personal CFO, bookkeeping, bill pay and tax preparation.
Hightower has 125 advisory businesses in 34 states and the District of Columbia. As of March 31, 2022, the firm's assets under management (AUM) were $117.7 billion, and assets under administration were approximately $141.5 billion.
Hightower is a wealth management firm that provides investment, financial and retirement planning services to individuals, foundations and family offices, as well as 401(k) consulting and cash management services to corporations. Hightower's capital solutions, operational support services, size and scale empower its vibrant community of independent-minded wealth advisors to grow their businesses and help their clients achieve their vision of "well-th. rebalanced." Based in Chicago with advisors across the U.S., the firm operates as a registered investment advisor (RIA). Learn more about Hightower's collaborative business model at www.hightoweradvisors.com.
Securities offered through Hightower Securities, LLC member FINRA/SIPC. Hightower Advisors, LLC is a SEC registered investment advisor.
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