Listening to HighTower advisors speak about Wall Street is like listening to a passel of Martin Luthers speaking about the corrupt Church of the Middle Ages. They know the Street from the inside out, they know what’s deeply wrong with it, and they utterly reject that part that stands in perpetual conflict with clients’ needs. However, they also know what’s right with it, and won’t turn their backs on the insights of unconflicted research, for instance, and they will also consider sophisticated products that they understand (and to which HighTower’s scale gives them access), and whose cost is justified by the benefit it provides for their clients. But don’t try to pull the wool over their eyes. And if you are their clients, you’re pretty fortunate to have them protect you from Wall Street while at the same time you’re benefiting from the sunny side of the Street.
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