Ameriprise Financial says it recruited advisor David Kutz of Scottsdale, Arizona, to its employee channel from Wells Fargo, where he spent the past 11 years. With support from registered client service associate John Santillo, Kutz has about $123 million in assets under management.
“My partner and I feel we are able to do more for our clients here at Ameriprise, and we are excited about the opportunity to grow our practice. The financial planning tools and advanced technology will help us do so,” according to Kutz, who has 37 years in the business (including 15 at Citigroup).
Also moving to the employee channel of Ameriprise is Rick Mundrane of Deerfield, Illinois. He left Morgan Stanley, where he had about $106 million in assets and worked the past nine years. He has been an advisor for 27 years.
“I chose Ameriprise for its client-centric philosophy, which was exactly what I was looking for after nearly three decades in this business,” Mundrane said. “As a former military officer, working for a firm with a strong reputation for its commitment to clients is very important to me.”
Separately, Raymond James added advisors Elizabeth Hulley, CFP; Sean Reynolds, APMA; and Benjamin Nicholson, CRPC, to its employee channel in Buffalo, New York, from Wells Fargo.
“As Raymond James continues to grow in the Northeast, I’m pleased to welcome exceptional advisors like Elizabeth, Sean and Benjamin to the firm,” according to John Kuklenski, Northern division director for Raymond James & Associates.
The team does business now as the Hully Reynolds Nicholson Group of Raymond James. It has roughly $100 million in client assets. Joining the three advisors in the move is client service associate Kristie Gruszka.
“We were drawn to Raymond James primarily because of the firm’s culture,” said Nicholson, in a statement.
Hulley has 35-plus years of industry experience at firms such as PaineWebber and A.G. Edwards. Reynolds has more than 16 years in the business, including time with Morgan Stanley and Merrill Lynch. Nicholson started his financial-services career 14 years ago with a firm in London, later moving to the United States and working at Edward Jones.
Meanwhile, LPL Financial says that it John Marshall & Associates Investment Center of Lake Havasu City, Arizona, has joined it hybrid platforms.
The firm includes John Marshall and Daniel Sickles, as well as Sean Goldney. The firm’s three advisors work with about $185 million of assets and recently left Cetera Advisor Networks.
Marshall started the firm in 1973 (and was affiliated with LPL from 2009 to 2011); he now plans to sell the business to LPL Financial advisor Heath Haynes. Haynes, who has been affiliated with LPL for eight years, will join Sickles and Goldney in the practice.
After 51 years it’s time for me to retire,” Marshall said in a statement. “I will see the group through the transition, and I am confident that my successor, Heath Haynes, with his longevity and stability, will provide the firm with a partner for continued success.”
“We are able to meet [advisors] where they are — whether that is growing their firm or transitioning into succession — and deliver the support and services that are right for them and will add value to their business and their clients,” according to Rich Steinmeier, LPL managing director and divisional president of Business Development.
LPL also announced recently that the Center for Wealth Planning of Troy, Michigan, and America Group Retirement Strategy Centers of Southfield, Michigan, have merged.
CWP, led by Joseph Ruzycki since 2005, is a 10-year affiliate of LPL Financial. AG’s head is Craig Snyder, who has worked with the independent broker-dealer since 2003.