HighTower Advisors, the Chicago-based open-source RIA, announced Tuesday, May 4, the beta launch of its HighTower Open Source Technology (HOST) iPhone and iPad application for advisors. The technology enables advisors to use HighTower’s clearing and custodial platforms from smart phones and other mobile devices.
More specifically, advisors can access and navigate HighTower’s technology platforms via a single online portal. The firm’s multiple custodians, investment products, trading capabilities, research capabilities, technology and tools and financial support services can all be reviewed and compared. With the addition of iPhone and iPad, the portal is now compatible with most major mobile technology products, including BlackBerry and Droid smart phones. Advisors gain access via a HOST icon on the iPhone or iPad home screen. The application also features Google search and a “Send to a Friend” option for sharing information from HOST to colleagues and clients.
“I realized early-on that if advisors don’t seek to embrace the post-boomer demographic, they’ll be left behind,” says CEO Elliot Weissbluth, when asked about the genesis of the technology. “In order to do that, I further recognized we needed to be more Mac friendly.”
By pioneering HOST and leveraging the accompanying technology, Weissbluth believes the firm to be on the leading edge of multi-custodial and multi-clearing technology.
“The infrastructure is designed in the clouds, meaning designed to be accessed by the advisor from anywhere at any time,” he adds. “Since they’re no longer tied to their office, they can do a better job for their clients if they are dialed in using this technology.”
HighTower has also expanded its Web presence with a Corporate and Institutional Services section on www.hightoweradvisors.com. Asset management for corporations and not-for-profit institutions is a rapidly growing core service at HighTower, adding to its wealth management services offered to high-net worth clients.