Welcome to Financial Advisor IQ
Follow

Morgan Stanley and Wells Fargo FAs Jump to Ameriprise

By Alex Padalka September 11, 2017

Several Morgan Stanley and Wells Fargo Advisors reps have decamped for Ameriprise Financial, according to a press release from Ameriprise.

In Fort Lauderdale, Fla., Alan Blender joined Ameriprise’s employee channel from Morgan Stanley, where he managed around $198 million, according to the press release. Blender says he came to Ameriprise for their “unsurpassed” focus on financial and advance planning. He started his advice career in 1983 at Smith Barney, which merged with Morgan Stanley in 2009, and had a stint at UBS Financial Services from 1994 to 2008 before joining Morgan Stanley, according to his BrokerCheck profile.

In Westport, Conn., Paul and Jesse Sheldon join the employee channel of Ameriprise from Wells Fargo Advisors, where they managed approximately $193 million. Paul Sheldon says they picked Ameriprise in part for its compliance structure, which he claims makes it easier for his team to communicate with clients and prospects.

Paul Sheldon, who’s been in the industry for 43 years, had been with Wells Fargo since 2003 after working at Prudential Securities for 25 years, according to his BrokerCheck profile. Jesse Sheldon, meanwhile, had been with Wells Fargo for nine years after brief stints at A.G. Edwards and Oppenheimer, according to BrokerCheck.

Ameriprise has been picking off brokers from its competitors this summer. Last month the firm scooped up two Edward Jones advisors managing $363 million. In July, Ameriprise nabbed three Merrill Lynch advisors collectively managing $463 million. And in June Ameriprise recruited three Morgan Stanley reps collectively overseeing $270 million and 15 Wells Fargo Advisors reps collectively managing $347 million.