Falcon Wealth Advisors is the first team to leverage HighTower's balance sheet for start-up capital.

HighTower, a US-based wealth management organization, has launched Falcon Wealth Advisors, a Kansas-headquartered independent firm overseeing $260 million in assets, using its own capital.

Falcon Wealth Advisors is the first team to leverage HighTower's balance sheet for start-up capital, the latter firm said in a statement this week.

Overseeing the new company's operations is chief executive and wealth advisor Jake Falcon, in collaboration with chief operating officer and fellow wealth advisor Cory Bittner, both of whom were previously with Swiss bank UBS.

Prior to launching Falcon Wealth Advisors, Falcon himself spent more than a decade with UBS, where he was a senior vice president and wealth advisor focusing on asset allocation, total portfolio management and retirement income planning. Bittner joined UBS in 2010, HighTower said.

"Our proud community is made up of elite financial professionals like Jake and Cory, who are deeply committed to putting their clients' best interests first," said Michael Parker, HighTower's chief development officer. 

Falcon Wealth Advisors is HighTower's twelfth transition in 2016 to date.