Ameriprise has been picking up advisors throughout the year, and it doesn’t look as if the firm will slow down anytime soon.
The Minneapolis-based firm recently announced that two it lured away two new advisors from competitors AXA Advisors and Oppenheimer.
A total of 155 new advisors have moved their practices to Ameriprise in the last two quarters, according to
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Five fired and barred former registered reps stole more than $1 million from clients over a four-year period, according to the regulator.
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Advisors John Burg and Tamara Colon moved their California practice to the regional firm.
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The firm will move over to Salesforce’s CRM tool starting next year as part of an effort to boost efficiency with new technology.
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The firm’s most recent hire is Gregory Manto, an advisor who managed $87 million at AXA Advisors, according to Ameriprise. He is based in New York City and has 22 years of experience in the industry, according to FINRA BrokerCheck.
He joined Ameriprise's independent franchise.
Manto is also moving to a bigger IBD. AXA Advisors is ranked No. 8 in terms of revenue, having reported $786.5 million in 2017, according to Financial Planning's
Manto says he was drawn to the firm’s team structure.
“Ameriprise has helped a lot of advisors build efficient and effective practices built on a team model,” said Manto in a statement. “Each member of the team has defined areas of expertise and responsibility, and they combine their strengths to deliver an exceptional experience for clients.”
The other advisor, Ed Pontarelli, joined the firm's employee side earlier this year in Providence, Rhode Island. He came from Oppenheimer, where he managed approximately $76 million in assets, according to Ameriprise. He had 18 years of experience in the industry, according to FINRA BrokerCheck.
Carrie McPherson, registered client service associate and practice manager, also moved with Pontarelli to Ameriprise.
Oppenheimer declined to comment on the departures.
AXA Advisors did not respond to an immediate request for comment.
