HighTower, an open-source adviser-owned financial services company, has formed a partnership with Three Bridge Wealth Advisors, an independent financial advisory firm based in Menlo Park, California.
The partnership provides Three Bridge with access to HighTower’s multi-clearing and multi-custodial platform, Host, enabling it to expand its service offering.
"We are very excited to extend the HighTower partnership structure to an already independent firm such as Three Bridge. Extending their already independent structure is the best way to serve the unique investment needs of their high net worth and institutional clients," says Drew Kornreich, HighTower’s president. "With HighTower’s open source platform, Three Bridge can now offer a superior level of service at lower costs to clients than is available at traditional wirehouses."
Three Bridge became independent in August 2009. The principals, Eric Thurber, Fred Molfino and Brett Sharkey, are investment professionals advising more than USD740m in assets for the venture capital and private equity communities in and around Silicon Valley.
"Freedom to use the products that we believe are in our clients’ best interest, and having direct control over our costs, is at the heart of delivering a superior investment solution. HighTower’s Host platform provides the best of all worlds, with multiple custody, trading and clearing firms competing for our clients’ business," says Molfino (pictured). "Partnering with HighTower allows us to access Host and deliver truly differentiated wealth management services for our clients."