Ameriprise poaches $234M advisors from Citigroup, Wells Fargo
Ameriprise has hired two advisors who manage $234 million in combined client assets, adding to its bench after stemming an outflow of talent late last year.
Meisha Griffith joined Ameriprise’s independent channel in Pasadena, California, from Citigroup, where she managed about $109 million in client assets, according to Ameriprise. Citigroup confirmed Griffith’s departure. She has worked in the financial industry for 18 years, according to FINRA records.
Anthony Barone joined Ameriprise's independent channel in Bohemia, New York, from Wells Fargo, where he oversaw approximately $125 million in assets.
The partners took a different path than most in launching their own franchise practice.October 26
Team of 9 advisors is latest to depart amid transition to LPL.December 12
CEO Jim Cracchiolo reported record client assets and a sharpened focus under the fiduciary rule.October 25
The father of the $141 million team worked for Raymond James for 12 years.October 16
Barone previously worked at Prudential for four years, according to FINRA. Wells Fargo declined to comment on its former employee.
Ameriprise’s frequent recruitment efforts continue a longer-term reversal in headcount, which declined to a low point in the third quarter last year before climbing steadily since. As one example, the firm ushered a team of nine advisors from National Planning group with $380 million in AUM in its last recruitment move in December.
These recruiting moves, as well as the strong markets, have helped boost Ameriprise’s client assets under management to a record $560 billion, an increase of approximately 3.9% over the previous year’s mark of $539 billion, according to its latest earnings announcement.
“I am excited about my ability to continue providing exemplary financial planning services using a more robust platform." Griffith said.