Ameriprise Financial added a three-advisor team that manages about $194 million in assets, the firm said Wednesday.
The Barbaro, DeMartino & Tucker Group joins Ameriprise’s employee channel in Red Bank, New Jersey, after leaving Merrill Lynch Wealth Management. Merrill Lynch did not immediately respond to a request for comment about losing the advisor team.
Gregory Barbaro, Lou DeMartino and James Tucker lead the team and are joined by client service associate Janet Iglesias, Ameriprise said.
The team was attracted to Ameriprise’s “strong reputation, financial planning capabilities and values,” the company said in announcing the addition. Aside from describing the team as “seasoned advisors,” Ameriprise did not specify in its announcement why it decided to add the group.
However, Trevor Jones, Ameriprise branch manager in Red Bank, told ThinkAdvisor: “Gregory, Lou and James are highly committed to growing their business and delivering exceptional service to their clients. The three of them fit into our strong culture here in Red Bank of growth, positivity and doing right by clients. I’m excited to have them on board at Ameriprise.” Jones oversees 20 advisors in Red Bank, the firm said.
The Barbaro, DeMartino & Tucker team “conducted extensive due diligence before deciding to join Ameriprise,” according to the firm. The advisors each shared their top reasons for choosing Ameriprise.