Ameriprise Nabs Morgan Stanley FAs Managing $523M
Brad Bersh, Terrence McCreanor and Dana Messina join Ameriprise’s employee channel as the Marco Island Group in Florida.
The group oversaw $385 million at Morgan Stanley, according to Ameriprise. McCreanor says in the statement that the group was particularly pleased with the onboarding process at Ameriprise.
The firm also recruited Craig Parker in Roseville, Calif., who managed $138 million at Morgan Stanley. Parker says in the statement that he was attracted to the culture at Ameriprise.
Ameriprise has been snatching advisors from its brokerage rivals in recent months. In March the firm’s employee channel recruited eight advisors collectively managing $644 million at Wells Fargo Advisors and UBS.
In February, Ameriprise’s independent channel added three advisors from Kestra Investment Services, while another two advisors joined its franchise channel from MSI Financial Services and Woodbury Financial Services.
In February, Ameriprise scooped up a broker from UBS and another one from Wells Fargo Advisors.
Morgan Stanley, meanwhile, has been shedding advisors recently. Earlier this month the firm lost a $288 million advisor to Merrill Lynch and a $1 billion team of advisors to JPMorgan. And in March, Merrill plucked five Morgan Stanley advisors who collectively managed $953 million.