Ameriprise Financial has welcomed the $2 billion AUM wealth management division of one of the largest US credit unions.
Kinecta Federal Credit Union has assets of $6.8 billion and more than 270,000 members from coast to coast. It offers a full range of banking services including checking and savings, loans, mortgages, insurance, and investments.
Its Kinecta Wealth Management unit, with around 20 advisors and offices in California and New York, will transition to the Ameriprise Financial Institutions Group from LPL Financial.
“Our new partnership with Ameriprise Financial allows us to offer an elevated level of service backed by powerful digital tools and technology to help our clients achieve their goals with greater confidence,” Donna McNeely, president of Kinecta Financial Management Co., said in a statement. “We’re confident we’ll have top-notch expertise and resources behind us with Ameriprise, and we’re excited to bring new capabilities to our advisors and clients.”
The conversion of Kinecta from LPL to Ameriprise is expected to be completed by the end of 2024.
“We’re delighted to welcome Kinecta to the growing family of financial institutions that entrust Ameriprise with their wealth management platforms,” said Pat O’Connell, Executive Vice President and President of the Ameriprise Branch and Financial Institutions Channels. “Our future together is bright, and we look forward to extending our outstanding services and capabilities to Kinecta’s financial advisors and clients.”
The "Crypto Mom" departure leaves the SEC commission with just two members and no Democratic commissioners on the panel.
IFP Securities’ owner, Bill Hamm, has a long-term plan for the firm and its 279 financial advisors.
Meanwhile, a Osaic and Envestnet ink a new adaptive wealthtech partnership to better support the firm's 10,000-plus advisors, and RIA-focused VastAdvisor unveils native integrations with leading CRMs.
A former Alabama investment advisor and ex-Kestra rep has been permanently barred and penalized after clients he promised to protect got caught in a $2.6 million fraud.
As more active strategies get packaged into the ETF wrapper, advisors and investors have to look beyond expense ratios as the benchmark for value.
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
