Advisor moves: Ameriprise lands three RBC teams with $1.2B; Wells hails $900M recruiting haul

Ameriprise Financial has recruited three advisor teams from RBC Capital Markets with nearly $1.2 billion in combined client assets.

The GEN Group joined in Vienna, Virginia, with more than $750 million in client assets. Private wealth advisor Matt Lanham and financial advisor Amanda Catalina lead the team, and client service associates Nicole Aguinaldo and Ari Aguinaldo support it. The team is supported by Branch Manager Jason Crabb, Ameriprise Complex Director Ed Eckenroad and Ameriprise Regional Vice President Todd Hubley.

In Denver, Vantage Axia Wealth arrived at Ameriprise with more than $280 million. Financial advisors Andy Krantz, a certified financial planner, and Corben Gailey lead the practice, which treats financial planning as the foundation of each client relationship. Registered client service associate Dominic Occhiuzzo made the move with them. Branch Manager Kathleen Drake and Regional Vice President David Spataro will be supporting the Vantage Axia team.

Finally, Chad Lewis brings $160 million in client assets to West Des Moines, Iowa. He spent 25 years as an Air Force F-16 pilot before embarking on his advisory career. He will be supported locally by Branch Manager Jeff Kimball and Complex Director Adam Lukens.

The newcomers from RBC said they were drawn by Ameriprise's technology platform, its planning capabilities, its advisor support model, and the firm's leadership team.

Read more: Ameriprise boasts $1B AI spend as rivals race for tech leadership

Wells Fargo adds teams from Santander, Raymond James and Truist

Wells Fargo Advisors extended its footprint across Massachusetts, Texas, and Florida with three teams arriving from rival firms with nearly $900 million in collective assets.

The largest is the Halloran Dooley Investment Group, led by Kevin Halloran, John (Ryan) Halloran and Michael Dooley. The team joined from Santander Securities in Beverly, Massachusetts, and oversees nearly $400 million.

Mark Southwell joined from Raymond James in McAllen, Texas, with nearly $300 million, joined by client associate Thelma. Finally, in Orlando, Florida, Lester Ernest moved from Truist Investment Services with more than $200 million.

Raymond James lands a UBS duo in New Jersey

Raymond James lost Southwell to Wells Fargo but gained a New Jersey pair from UBS Financial Services.

Peter Q. Morris and Kenneth “Ken” Montal, who managed $245 million at UBS, have joined Raymond James & Associates, the firm’s employee advisor channel in Paramus, according to North Atlantic Regional Director Tony Barrett.

The team now operates as The Compass Group of Raymond James. It serves business owners, retirees, pre-retirees and clients dealing with sudden wealth. Morris and Montal are joined by client service associate Jessica Sanchez.

Morris is a managing director with more than 30 years in the industry, 15 of them at UBS. Montal is a senior vice president of investments with more than 43 years of experience.

“The firm’s technology platform and private wealth capabilities support our team’s service-minded approach and enhance how we guide clients throughout their financial lives,” Morris said.

Morris and Montal's departure represents yet another drip in the stream of departures from UBS, which is trying to improve retention as it attempts to build a stronger wealth footprint in the US.

Read more: UBS fights for US wealth turnaround as it secures national bank license

Cetera recruits a women-focused practice from LPL

Michele Johnson, a certified financial planner, has moved her practice, Elevated Wealth Solutions, from LPL to Cetera. The Willoughby, Ohio, practice oversees approximately $80 million in assets under administration. It aligns with Prosperity Advisors, one of the largest businesses in the Cetera Advisors community.

In 2023, Cetera announced it had made a strategic minority investment in Prosperity Advisors, which at the time was a 170-member OSJ with $1.7 billion in assets.

Read more: IBDs used to keep their hands off clients. Not anymore

That same year, Johnson founded Elevated Wealth Solutions with an emphasis on retirement strategies, income replacement and wealth planning. Office manager Alison Marrie currently runs daily operations at the practice.

Johnson was affiliated with LPL for eight years, She said she decided to part ways as she sought stronger support and broader resources, including tax and 401(k) planning tools, and a sense of tight-knit community.

“The practice where I got my start in this business felt like a family, and that’s what I was trying to recreate,” Johnson said.