Ameriprise

The firm’s recruiting is also gaining steam, despite the ongoing impact to its bottom line from low interest rates.

The acquisition will add $124 billion of European AUM and give Ameriprise access to the Canadian bank’s ESG strategies. It will also initiate a distribution relationship with the Bank of Montreal’s North American wealth management business.

The rare move to set aside the regulator’s ruling came more than a decade after the rep ran into trouble by adding notes about his client into a software program.

The brokers collectively generated more than $88 million in annual revenue while overseeing nearly $15 billion in assets under management.

At an average age of 37, the top-producing brokers operate in 18 different states, plus the District of Columbia and Guam.

The nearly 10,000 advisors affiliated with the firm grow 2.5 times as fast as their peers at rival brokerages, CEO Jim Cracchiolo says.

Necessary new approaches include better cultural understanding, more flexibility for new entrants and more outreach, advisors and executives say.

Even with those challenges, rep productivity and client cash balances expanded in the third quarter.

The father-son practice with two other advisors switched their affiliations after its founder had spent 18 years with New York Life.

The advisor is asking a judge to reconsider the order, saying he wasn’t given a chance to defend himself against accusations of violating a non-solicitation agreement.