John Cartolano and his Scottsdale, Ariz., based team at NetVest Financial have joined Ameriprise from LPL, bringing with them $200 million in assets under management.
NetVest, with its four advisors, is now a private wealth advisory practice of Ameriprise Financial Services. In an interview, managing member Cartolano told Financial Planning he made the move because of the exceptional opportunities at Ameriprise.
"Ameriprise offers us the opportunity to partner together for growth," Cartolano said. "If I want to take my firm to next level, I'll need the support that Ameriprise can provide." His stated goal is to eventually quadruple the firm's size.
What sort of help is Cartolano expecting, so that ambitious goal can be attained?
"Ameriprise will help in the acquisition of other practices," he said. He also noted that Ameriprise offers support in his firm's succession planning and in helping NetVest team members to build equity in the practice.
"In addition," Cartolano said, "Ameriprise will promote my proprietary seminar series, Trusts and Beyond, which I've been presenting two to four times a month for the past 12 years. These seminars explain to people the importance of integrating trusts with other aspects of their financial lives."
These dinner seminars, which have their own website, trustsandbeyond.com, offer the basics of trust management as well as advanced strategies surrounding trusts and estate planning. The seminars address the concerns of people who are the trustee of their own trust or the successor trustee of someone else's trust; topics include having a will means going to probate, having a revocable trust may cost you more in taxes, why retirement plans should be in a trust, and so on. Professionals who wish to attend are told to inquire about an educational fee.