Ameriprise Financial Recruits Nine Veteran Advisors In Six US States

Eliane Chavagnon

2 May 2013

US-based Ameriprise Financial has bolstered its advisor force in six states and added $960 million in client assets with hires from Morgan Stanley Wealth Management, Merrill Lynch, Wells Fargo Advisors, UBS Wealth Management Americas and LPL Financial, Reuters reports.

In Connecticut, John Nelson and Jon Nelson joined from Wells Fargo Advisors, where they managed $125 million in client assets. They are now based at Ameriprise’s Norwalk office in Fairfield County.

Leasha Flammio-Watson previously managed $90 million in client assets at Wells Fargo and joins in Melbourne, Florida, while Mark Aronson - also formerly of Wells - joins in Mount Laurel, New Jersey. Aronson has about 30 years of industry experience and at Wells Fargo managed $126 million in client assets.

The firm has also appointed Jay Geaslen in Alpharetta, Georgia, from Bank of America Merrill Lynch. He was an advisor at Merrill for over a decade, managing $194 million in client assets.

Meanwhile, Norman Howarth joins in Massachusetts from LPL Financial, which is part of LPL Financial Holdings. Howarth previously managed $195 million in client assets and is now based in Charlestown.

In Florham Park, New Jersey, Ameriprise has brought in Donald Jones and Trevor Jones from UBS Wealth Management Americas. The pair managed $80 million at UBS.

Lastly, William Patton joins Ameriprise from Morgan Stanley Wealth Management in Virginia Beach, Virginia. Patton has worked in the industry for 40 years and managed $150 million in client assets at Morgan Stanley.

Ameriprise had not confirmed the moves to this publication at the time of going to press.

In other news, the firm reported that advice and wealth management pre-tax operating earnings rose 39 per cent, from $94 million to $131 million, in the first quarter of 2013. The firm said the hike reflects strong revenue growth, continued expense management and ongoing investments in the business, “partially offset by a $10 million decline in earnings from continued low interest rates”.