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HighTower Expands With Another Merrill Lynch Advisory Team

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HighTower announced Monday that it had recruited another advisor team from Merrill Lynch.  The Amidei Romano Group is based in Palm Desert, Calif.

The new team is led by Brian Amidei, Joseph Romano III and Brett D’Orlando. Together they will serve as managing directors and partners at HighTower. Amidei has been in the industry for 16 years, 12 of which were spent at Merrill Lynch. Romano also spent 12 years at Merrill Lynch, and D'Orlando was with the firm for seven years.

"The Amidei Romano Group serves sophisticated, ultra-high-net-worth clients," Mike Papedis, managing director of business development for HighTower, told AdvisorOne. "They are genuinely really good people who care deeply about their clients."

In February, HighTower added a Portland, Maine-based team, the Simmons Wilkes Group; in March, Masterson, Emma & Associates, based in Naples, Fla., joined HighTower. Both teams were formerly with Merrill Lynch.

Mike Papedis, HighTower"We attract builders," Papedis, left, said. "We look for the top two or three teams in a particular market."

Advisors are attracted to HighTower, he said, because of their "unconflicted view when serving their clients."

"There are no internal conflicts from different profit desks," he said.

Papedis indicated the impetus that's driven HighTower to add three new advisory teams in as many months, isn't likely to dry up soon.

"We have a pipeline that's brimming," he said. "And the success that's behind our sales will undoubtedly continue."