Dr Margaret Towle, an expert on family office and ultra-high net worth operations, has joined financial services company HighTower as a partner and managing director, as the company looks to increase its focus on family offices.
Towle, who joins from Greycourt where she was an adviser, has worked with family offices, wealthy families and ultra-high net worth individuals for 28 years.
She brings with her a client base that includes more than $1 billion of wealthy family and institutional assets under management.
Towle has been examining key trends in the financial services industry through her work with the Investment Management Consultants Association, where she sits on the board of directors.
She told CampdenFO that her decision to move to HighTower was prompted by four dominant trends - greater volatility in the financial market, an increasing desire from clients for a wider variety of investment solutions, increased regulation, and family offices outsourcing the chief investment officer function.
HighTower will now work to increase its emphasis on wealthy families and UHNW individuals, she said.
“The plan is to expand this effort through the team I am building up here,” Towle added.
The company also expanded its family office services earlier this month, when Paul Pagnato and David Karp, who were private wealth advisers at Merrill Lynch Private Banking and Investment Group, joined the company. The Pagnato-Karp group exclusively focuses on delivering family office services to wealthy entrepreneurs.