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Ameriprise Snaps Up Wells Fargo Wealth Team

March 16, 2017

Ameriprise Financial has picked up a team of advisors who previously managed $500 million at Wells Fargo Advisors, Ameriprise says in a press release.

Donald Alderman, Robert Holt, Scott Laney and Jamie O’Brien join Ameriprise’s captive channel in Charleston, S.C., as a practice called Alderman, Laney, O’Brien & Holt, with O’Brien serving as branch manager, according to the press release.

The team’s move was prompted by Ameriprise’s technology offerings, according to O’Brien. He says the brokerage’s mobile capabilities in particular are superior to anything his team has encountered elsewhere.

Ameriprise also recruited Anthony Trotta in Cincinnati. He previously managed $65 million at Wells Fargo Advisors, according to Ameriprise.

In addition, John Maita joins Ameriprise from UBS U.S. brokerage, where he managed $107 million.

Last month, a UBS broker who managed $147 million joined Ameriprise, as did a Wells Fargo Advisors broker who managed $91 million.

Also in February, Ameriprise picked up several advisors from Kestra Investment Services, MSI Financial Services and Woodbury Financial Services.

Meanwhile, Golden State Wealth Management, a practice that plugs into LPL Financial, says it has snapped up Santa Rosa, Calif.-based JPMorgan advisor Christopher Bates.

By Alex Padalka