HighTower Advisors has struck again.

The high octane independent firm that targets high and ultra high net worth clients announced yesterday that Steve Hayden, vice chairman and chief creative officer of Ogilvy & Mather Worldwide, has joined its board of directors.

The move was seen by industry observers as a sign that the well-financed advisory firm, which received $100 million in financing in December from Credit Suisse subsidiary Asset Management Finance, is ready to ramp up its marketing efforts.

“It’s a very important development,” said industry consultant Tim Welsh, president of Nexus Strategy, of Larkspur, California. “Nobody in that space invests in marketing and I think this is a harbinger of what’s to come. If they’re ready to invest in marketing it will definitely raise the bar for everyone else.”

In a statement, Mr Hayden said he looked forward to ensuring that HighTower will support its advisors “with the marketing resources they need for lasting growth".

The firm, which launched in 2008 and already has $16 billion in assets under management, has attracted industry attention for its big names and big money.

David Pottruck, former chief executive of Charles Schwab, is co-chairman and Phillip Purcell, former chief executive of Morgan Stanley and Dean Witter and Morris Offit, the well-known New York financier are investors.

The firm has also attracted advisors with large books of business from major Wall Street firms, including Goldman Sachs, Morgan Stanley and UBS.

“They are truly bringing a new model to the business and assembling a board of extraordinary talent,” said Barnaby Grist, senior managing director of strategic business development for Charles Schwab.

Asset Management Finance said it completed four new investments in December last year totalling about $200 million. AMF's structure provides capital in exchange for a limited term interest in a firm's future revenues and it holds passive, non-voting revenue share interests in a diversified group of asset managers

Investors in Asset Management Finance include Credit Suisse Group AG, Proctor NBF Capital Partners (through a subsidiary of National Bank Financial), Tokio Marine & Nichido Fire Insurance, and AMF management.

Last month, AMF completed its first European investment in UK independent fee-based wealth advisor, Towry Law. It also made investments in a hedge fund manager and private equity fund in December.