Ameriprise Financial (AMP) said late Tuesday that it had hired several advisors recently, including some from Morgan Stanley (MS), Oppenheimer (OPY) and J.J.B. Hilliard, W.L. Lyons. They join Ameriprise with about $565 million in assets under management.
Ameriprise, led by Jim Cracchiolo (left), says the independent team of Lachlan, Fiona and Donald Cameron is now affiliated with the firm in Pasadena, Calif. The group joined Ameriprise’s independent network from its former broker-dealer Cameron, Murphy and Spangler, where they managed about $311 million.
Independent advisor Robert Norvell joined Ameriprise independent channel with some $121 million in assets from J.J.B. Hilliard, W.L. Lyons. He is based in Tulsa, Okla.
Joining Ameriprise’s employee channel in Saddlebrook, N.J., are Barry Hess, formerly with Morgan Stanley, and Robert Adler, who was previously with Oppenheimer. The two advisors each manage about $65 million in assets.
In the third quarter, Ameriprise said it had a total of about $320 billion in assets under management. The number of advisors increased by 51 from the second quarter to 9,714. From a year ago, though, the figure was down by nine advisors.