Ameriprise has bolstered its advisor force with the addition of a seasoned veteran who’s leaving from under the auspices of UBS.
Ameriprise has announced that financial advisor Michael Walstien has transitioned from UBS Financial Services, bringing with him $150 million in assets.
Walstien has had a long run in the industry, according to his BrokerCheck record with Finra. That file shows he’s been in the financial services business since at least 1998, when his record shows he was with Dean Witter Reynolds.
His longest ever stretch of employment was with UBS, where he was registered as a broker for 17 years since 2006. His history of registration as a UBS investment advisor is slightly shorter, starting in 2010.
Walstien, who’s operating from his base in Wayzata, Minnesota, cited multiple reasons behind his decision to end his employment with UBS.
“First and foremost, I was looking to provide an enhanced experience for my clients,” he said in a statement. “Ameriprise has the support, tools, and systems to bring our client offering to the next level.”
Beyond the firm’s “longtime focus and expertise in financial planning,” Walstien pointed to its technological infrastructure that benefits both advisors and their clients. For advisors, he said Ameriprise also offers other tools and services that let advisors run their businesses in a more efficient manner.
Walstien also underscored his experience of cultural fit at his branch office and across the broader Ameriprise enterprise, which he described as “a collaborative, team atmosphere where everyone is empowered to excel in their careers.”
Along with client service associate Kaeli Williams, Walstien will be operating with the support of Ameriprise complex director Adam Lukens and under the supervision of regional vice president Mitch Doren.
Ameriprise’s ability to attract seasoned professionals – including a former Wells Fargo advisor who joined the firm in June – has contributed to its robust record of recruitment, which has seen more than 400 advisors transitioning to the firm in 2023.
Over the past five years, the firm has welcomed approximately 1,700 into the fold. As of the most recent earnings report, where the firm said its Advice & Wealth Management group generated pretax adjusted operating earnings of $822 million for the quarter, Ameriprise’s fleet of advisors totaled more than 10,300.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
