YouSaid · the spoken record

Bob Oros

lines on the record
63
first
2025-06-16
most recent
2025-06-16
sittings or episodes
1
sources
podcast

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  1. “Hightower go back even further than me. The firm was started in 2008 coming out of the crisis. The whole idea from the founders was there's these great advisors sitting in these big firms and these are brokerage businesses operating in a brokerage model, but they're really fiduciary-minded, meaning they're fee-based, they think like a fiduciary. And there's an opportunity to give them a different way to serve their clients. We sometimes refer to that as high power 1.0 or the first chapter. It was all about flexibility and choice. Come to Hightower and we're going to give you a platform that's got national scale but allows you to choose where you want to custody assets. What type of portfolio accounting system you want to use, how you want to invest money. So a lot of flexibility. When I got here six and a half years ago, we started to evolve in a couple of”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. “You turn and look at the business of RIAs and maybe go back the six or seven years when you first came into Hightower, how did you think about the evolution of the business model and what you wanted to do when you took over?”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. “At Hightower created a new tagline in 2020 called Wealth Rebalanced W-E-L-T-H. We do know how to spell. We did get that question a few times. But it's really meant to signify real wealth to most people is not their portfolio.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. “Of cash flow projections, but real financial plans. We've gone even further in, we believe, estate advisory is a big area of opportunity. When you can sit down with somebody and talk about their legacy, how they want to not just create a tax efficient estate, but also how they want to treat their kids and their grandkids, how they think about philanthropy, you're starting to get into these deeper emotional connections, which we think is where real loyalty is engendered. Investments are always going to be important because investments are the means to the end. And having, you know, a properly allocated portfolio with the amount of risk you're comfortable with matters a ton. But if that's all the relationship is, you're depending on performance to be the arbiter of, is it a good relationship or not? And we all know performance can come and go.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. “Industry has changed significantly. 25 years ago was all about investments. If you really looked at any client meeting, that was predominantly what the conversation was. We didn't have these things like cable news channels where you can have them on all day and get information. The advisor was really the source of information. I sometimes use the example of realtors. It used to be realtors. You needed them to get access to the multiple listing service. Well, you needed advisors to get access to market information and market perspective because it just wasn't as available. We all know now it's available 24-7 just like in real estate any one of us can go on realtor.com and look for homes. Value had to be created in different ways as the industry has evolved and advisors have evolved. But then went to more planning-based. And you saw more advisors incorporating real planning, not just a little bit.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. “By referring people to them. Those businesses have now run full circle and their clients are getting older and they're no longer able to just refer business the way they once did. We're in this position as an industry where advisors, I believe, need to go back to some of those tried and true tactics. We've started doing that. We don't call them seminars now. We call them turnkey events because people don't like seminar. What's old is new again. What really matters here is you have to be out there and tell people what it is you can do for them and how you can add value.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. “You have to figure that out what's comfortable for you in doing it, whether that's being the big personality who's going on TV or doing that approach to it or something a bit more subtle where you just like to consult with people and add value to people and do it that way. Everybody has to figure out their style for it, but you have to do it. And we're seeing that in the industry right now where 25 years ago, 30 years ago, advisors were building their businesses, many of them were doing things like seminars because you had to get in front of people and tell them about you and about what you can do for them. And they had success doing it. They built these great businesses that then became self-perpetuating through client referrals. So they no longer had to go do that stuff that felt more cold collie, more salesy. Now they just delivered great service and their clients rewarded them.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. “As much as I dismissed it and said, that's not for me, you do actually need to find new clients. We have an industry that's so sound technically, but sometimes struggles from a standpoint of getting people to use their services. And the industry itself, specifically the wealth industry registered investment advisors, is growing as a whole. The majority of advisors really grow when the market goes up. They struggle to generate net new client growth as much as I didn't necessarily like being asked to bring in the names of 50 people. You do need to be able to go sell yourself because to be able to do good for someone, they need to know you're there and know how to use you.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  9. “Interview, bring in the names of 50 people you know, and we're going to call them together. I realized, well, that's not what I want to do. I wanted to do something technical. I didn't want to call on all my friends and family and try to sell them something. So I sort of got away from it and I went into a different direction. I went into banking for a bit. But ultimately found myself when I was working for Charles Schwab coming back into the advisor business where they served RIAs. And it really was a little bit of happenstance, but it reconnected me to that great admiration that I still have for advisors and the work they do for clients.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  10. “Started for me when my mom took me to meet with her financial advisor when I was like a sophomore in college. And we went to the Merrill Lynch branch and it had the big ticker videos going around. It was a different era. There was no internet. There was no free access information. And we sat down with her advisor and he took us through this brown leather financial plan, which in hindsight was a lot of canned material, just the notion of sitting down with people looking at them holistically and helping them achieve their goals really hit me. I ended up being a finance major economics minor in college and decided I wanted to go into financial planning. Back in those days, the people that did financial planning were really product organizations that were selling something. I remember going to an interview and my first interview was with an individual and it went fine. And he's like, all right, for your second.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  11. “There's still huge events coming up, like Wimbledon and the Capitol Allocators Senior Decision Maker Summit. Six of One, half a dozen of the other. With so much going on, I just wanted to hop back on and say thanks once more for spreading the word Enjoy my conversation with Bob Oros. Bob. Thanks so much for joining me. My pleasure. Why don't you take me back to your background in this long period of time in this space?”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  12. “Advise a retention and private equity ownership, and then turn to its investment approach that blends centralized oversight with advisor flexibility. We close with Bob's decision to step down as CEO in an exciting time for the business and some leadership lessons he's picked up along the way.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source

  13. “Guest on the seventh and final episode of Private Wealth is Bob Oros, the outgoing chairman and CEO of Hightower Advisors, a leading RAA platform with over 165 billion dollars in assets under management. Bob has spent three decades in the Wealth Management Industry, including stints at Charles Schwab, LPL, and Fidelity before joining Hightower in 2019. During the last six years, he oversaw 50 acquisitions of RAAs that he integrated under High Towers, wealth rebalanced culture. Our conversation shares a perspective on how RAAs function and allocate capital at scale. We cover the evolution of private wealth from product sales to holistic planning, the founding and transformation of Hightower, and Bob's approach to building a scalable, advisor-focused platform. We discuss Hightower's acquisition strategy and process.”

    2025-06-16 · Capital Allocators · Bob Oros – RIA Perspective at Hightower (Private Wealth 7, EP.452) · IDENTIFIED FROM THE TRANSCRIPT · source