Chicago-based Hightower has downsized its workforce, reducing its workforce by 5%. 

A Hightower spokesperson described the moves as "recent internal adjustments" and stated that approximately 5% of the company's staff would be affected. According to WealthManagement.com, the spokesperson also confirmed that there were no changes at the executive level. The spokesperson affirmed the firm's unwavering confidence in its financial stability and dedication to providing exceptional service to its clients.

Chicago-based Hightower is comprised of approximately 135 advisory businesses in 35 states and the District of Columbia with managed assets totaling about $131 billion. The firm, as per its most recent Form ADV, employs 1,700 staff and has 777 advisors. 

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