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HighTower Adds $500M Ex-Oppenheimer Advisor

By Bernice Napach

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HighTower has expanded its New England practice and population of female advisors with the addition of Carol Nulman, a Providence, Rhode Island-based advisor for high-net-worth individuals, trusts and nonprofit organizations and institutions. The Nulman Group had managed $500 million in assets at Oppenheimer & Co.  

In early April, HighTower added an advisor team from Morgan Stanley, with about $750 million in client assets.

Nulman has more than 30 years’ experience in the financial advisory business, beginning at Lehman Brothers Kuhn Loeb, then moving to Wertheim Schroder, which subsequently merged with Salomon Smith Barney, and then to Oppenheimer & Co. in 2009.

In a statement from HighTower announcing her move, Nulman said her goal was “to deliver exceptional services to clients with an emphasis on women investors who remain underserved by the financial industry.”

HighTower CEO Elliot Weissbluth said, in the same statement, that the firm’s “community is a premier destination for elite financial advisors, including of some of the profession’s most accomplished women.” Thirty percent of HighTower’s teams include at least one female advisor.

HighTower offers advisors access to several custodial and third-party platforms and, according to a spokeswoman, currently has $30 billion under advisement.