Ameriprise Loses $850M Advisory Team to Launch RIA with Integrated Partners
A financial advisory team overseeing $850 million in assets has departed Ameriprise to establish an independent RIA under Integrated Partners' platform. This exit reduces Ameriprise's assets under management and underscores competitive pressures in advisor retention and third-party platform offerings.
1. Departure Details
A team managing $850 million in client assets officially left Ameriprise to form an independent RIA in collaboration with Integrated Partners. The advisors plan to leverage the platform's custody, compliance and technology solutions for greater operational autonomy.
2. Impact on Ameriprise
The loss trims Ameriprise's assets under management by $850 million, potentially reducing fee revenue and highlighting challenges in retaining top advisory talent. The departure may drive Ameriprise to enhance advisor incentives and service offerings to mitigate further attrition.