Capital Allocators – Inside the Institutional Investment Industry Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452)
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Jun 16, 2025 Bob Oros, the outgoing Chairman and CEO of Hightower Advisors, shares his extensive experience in wealth management spanning three decades. He discusses the evolution of Registered Investment Advisors, highlighting the shift towards holistic planning and alternative investments. Bob reveals insights into Hightower's acquisition strategy, emphasizing advisor retention and cultural integration. He reflects on leadership lessons, including adaptability and transparency, as he prepares to step down in a pivotal moment for the firm.
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Bob's Entry Into Financial Advisory
- Bob Oros initially avoided financial advisory because he disliked cold calling and selling to friends and family.
- He eventually returned to the field through Schwab, reawakening his admiration for advisors and their work.
Advisors Must Actively Sell Themselves
- Advisors must actively sell themselves because good work alone does not attract clients.
- Returning to old but effective tactics like seminars (turned turnkey events) is important for growth.
Evolution of Private Wealth Management
- Wealth management has evolved from investment-focused to holistic financial and estate planning.
- Emotional connections around legacy and family build deeper client loyalty beyond portfolio performance.