Business Continuity Planning
Hightower has developed a Business Continuity Plan on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan.
If after a business disruption you cannot contact us as you usually do at (312) 962-3800, you should contact your Financial Advisor at their local office number or your custodian (National Financial, Schwab, IWS, JP Morgan, etc.) for instructions on how you may receive prompt access to information on your accounts, enter orders and process other trade-related, cash, and security transfer transactions.
Custodian Phone Numbers
JP Morgan 800-634-1428
National Financial 800-801-9942
TD Ameritrade 800-669-3900
Our Business Continuity Plan
We plan to quickly recover and resume business operations after a business disruption of any sort. Our first priority will be the safety of our employees and the privacy of your personal information. In addition, we will take immediate steps to safeguard our property, make a financial and operational assessment, protect the firm’s books and records, and take necessary steps to allow our customers to transact business as normal. In short, our business continuity plan is designed to permit our firm to resume operations as quickly as possible, dependent upon the scope and severity of the business disruption.
Our business continuity plan addresses: data back-up and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers prompt access to their funds and securities if we are unable to continue our business.
While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we have been advised by our clearing firms that their objective is to restore their own operations and be able to process necessary transactions within one day. Your orders and requests for funds could be delayed during this period.
Business disruptions can vary in their scope and severity and may have only a minor impact or delay (such as a power outage of short duration). Others may be far more severe and may impact multiple Hightower office locations or a large city or regional area. We have plans in place to continue operating at nearly full capacity within 24 hours of a severe business disruption to our headquarters or within our city. If necessary, our clearing firms will be able to take your calls and process your requests with only minimal disruption to our current service levels.
SEC Rule 606 Reports
These reports (the “Reports”) are pursuant to Securities and Exchange Commission Rule 606, which requires all broker-dealers to make publicly available quarterly reports on their order routing practices. The Reports provide information on Hightower Securities’ routing of “non directed orders,” which are orders that customers have not specifically instructed to be routed to a particular venue for execution. For these non-directed orders, Hightower has selected the execution venue on behalf of its customers. The SEC’s final adopting release, along with the text of Rule 606, can be found at http://www.sec.gov/rules/final/34-43590.htm. The SEC’s Frequently Asked Questions about Rule 606 can be found at http://www.sec.gov/interps/legal/mrslb13a.htm.
The link below provides required information on Hightower order flows for orders by customers whose accounts are carried by JP Morgan Clearing Corp.
The PDFs below provide required information on Hightower order flows for orders by customers whose accounts are carried by National Financial Services.
Required Information on Hightower Order Flows
More About Hightower
Hightower Holding, LLC is a privately-owned limited liability company located in Chicago, Illinois. Hightower Holding, LLC is the sole owner of Hightower Securities, LLC ("Hightower Securities"), and Hightower Advisors, LLC ("Hightower Advisors"). Hightower Securities is a broker dealer member of the Financial Industry Regulatory Authority (FINRA) (www.finra.org) and the Securities Investor Protection Corporation (SIPC), as well as a registered broker dealer with the Securities and Exchange Commission (SEC) and certain states. Hightower Advisors is a registered investment advisor with the SEC and certain states. In connection with Hightower’s business activities, broker dealer services, securities are provided through Hightower Securities, and registered investment advisory services are provided through Hightower Advisors. All references herein to “Hightower” shall mean Hightower Holding, LLC, Hightower Securities and Hightower Advisors, collectively; provided any disclosures relating to broker dealer activities shall be deemed to refer only to Hightower Securities and any disclosures relating to registered investment advisory services shall be deemed to refer only to Hightower Advisors. In addition, unless otherwise expressly stated herein, all references to persons serving as officers, directors or advisory board members refer solely to such persons serving in such capacities for Hightower Holding, LLC.
This Website is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase any security or investment product or services. The content of this Website is provided solely for your personal use and shall not be deemed to provide access to any particular transaction or investment opportunity. Hightower does not intend the information on this Website to be investment advice, and the information presented on this website should not be relied upon to make an investment decision.
The information provided on this Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject Hightower, its affiliates, employees, directors, officers or agents to any registration requirement within such jurisdiction or country.
Disclaimer of Warranty and Limitation of Liability
The content of this website is provided “as is” without warranty of any kind (express or implied). Hightower does not assume any obligation to update the information and data on this website and does not guarantee that it is accurate, current, valid, complete or suitable for any particular purpose.
Hightower makes no representations concerning this website, or to any websites to which this website may be linked and disclaims all express, implied and statutory warranties of any kind, including warranties of merchantability, noninfringement or fitness for a particular purpose, to the fullest extent allowed by applicable law. In no event shall Hightower or any of its affiliates, manager members, members, partners, directors, officers, employees, or other representatives be liable or have any responsibility of any kind for any direct, indirect, special, consequential, multiple, punitive or other damages arising from information on this website or the use of this website.
These materials have been independently produced by Hightower. Hightower is independent of and has no affiliation with our custody and clearing firms. Our custody and clearing firms have not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor have conducted any independent verification of the facts and representations underlying these materials.
Information We Collect from You
We collect certain nonpublic personal identifying information about you (name, address, social security number, date of birth, income, assets, investment preferences, etc.) from information that you provide on applications or other forms, as well as communications (electronic, telephone, written or in person) with you or your authorized representatives. We collect information about your accounts and transactions (such as purchases, sales, account balances, inquiries, etc.), information to process transactions or to conduct online transactions. If you apply for life insurance, we may receive information on your health or habits.
Information from Third Parties
If needed, we may obtain information from third parties to evaluate your application or verify your identity, including personal and credit information from consumer reporting agencies, or information from other companies about contracts or accounts transferred to us.
We only collect medical information required to underwrite life insurance or annuity products. We will obtain written consent from you before we obtain this information from third parties. Such information is not shared for marketing purposes.
Information We Share
We share information only in a limited way to conduct business and provide service to customers, or as required by law. The law allows us to share the personal information listed above with our affiliated firms, also known as our family of companies. We share this information to conduct routine business activities. These parties are prohibited from using or sharing the information for any other purpose, including marketing, and they are required by contract to maintain the confidentiality of your information.
What Information We Disclose
Safeguarding of Your Information
We restrict access to your nonpublic personal information to those employees servicing your account. We train our employees to keep your information safe and confidential. We maintain physical, electronic and procedural safeguards that comply with applicable federal and state standards.
Within Our Family of Firms
Opting Out of Third-Party Disclosures
If you prefer that Hightower not disclose the nonpublic personal information about you to non-affiliated third parties, you may opt of such disclosures – that is, you may direct us to not make those disclosures, other than those permitted by law. If you wish to so opt out, you may contact our Compliance Department at 312-962-3800, or send a written request to the firm address below.
Financial Advisor Transition of Employment
If your financial advisor ends their affiliation with Hightower, they may be permitted to use limited information to contact you to solicit you for their new firm, and as a means to continue to service and maintain your account. The information they are permitted to use is limited to your name, address, email address, phone number and account title.
For Questions, Please Contact Us
200 West Madison Street, Suite 2500
Chicago, IL 60606