Ameriprise loses $275 million team to LPL hybrid unit

Five veteran advisers form Socratic Wealth Advisors in Raleigh, N.C.
JUN 15, 2017

A five-adviser team that managed $275 million at Ameriprise in Raleigh, N.C., has affiliated with LPL and its hybrid RIA platform. Operating as Socratic Wealth Advisors, the team includes veteran advisers Chris Demarest, Murat Kaptanoglu, Andrew Lipson, Conley Perry and Brad Williams and four professional staff members. Prior to the new venture, all five advisers had spent their entire careers at Ameriprise and its predecessor, IDS. Mr. Demarest joined Ameriprise in 2004. Mr. Kaptanoglu joined the firm in 1995, and Messrs. Lipson, Perry and Williams in 1997. This article has been corrected to indicate that the team is based in Raleigh.

Latest News

Fintech bytes: Vestwell comes through for underserved savers with multilingual support
Fintech bytes: Vestwell comes through for underserved savers with multilingual support

MyVest and Vestmark have also unveiled strategic partnerships aimed at helping advisors and RIAs bring personalization to more clients.

UBS profit beats estimates as Ermotti sees brighter outlook
UBS profit beats estimates as Ermotti sees brighter outlook

Wealth management unit sees inflows of $23 billion.

Evercore to buy advisory firm Robey Warshaw for $196 million
Evercore to buy advisory firm Robey Warshaw for $196 million

Deal will give US investment bank a foothold in lucrative European market.

Gates and Buffett’s Giving Pledge is 15 years old, but many signatories are richer than ever
Gates and Buffett’s Giving Pledge is 15 years old, but many signatories are richer than ever

New report examines the impact that the initiative has had on philanthropy.

Americans stay the course on 401(k) savings despite inflation fears
Americans stay the course on 401(k) savings despite inflation fears

Few feel confident that they will meet their retirement goals.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.