Ameriprise Nabs $321M Morgan Stanley Team, Snowden Lane picks up a Merrill Lynch advisor
By Janet Levaux
Two veteran financial advisors left Morgan Stanley to join Ameriprise Financial’s employee channel with $321 million in client and institutional assets.
The team includes Ron Phelps and Jacob Hamus, who spent 24 years and 11 years, respectively, at the wirehouse firm. They are based in Middleton, Wisconsin, near Madison, and are setting up a new Ameriprise office there.
“Transitioning in an all-virtual environment had its complexities, but we knew joining Ameriprise was the right move for our clients and our business,” according to Phelps.
As the team works with both wealth management and institutional clients, “it was important for us to have access to a wide range of investment capabilities and products – and the ability to serve the clients in the way that best suits their unique needs,” Phelps explained.
The duo was “impressed with the firm’s technology and digital capabilities, which are designed to help us collaborate smoothly with clients across multiple generations,” Hamus said in a statement.
The two advisors made the move with client service associates Wendy Campbell and Lyam Hunt and with the support of Ameriprise branch manager Paul Jackson.
Boutique wealth firm Snowden Lane Partners said it recruited Daniel J. Rodriguez from Merrill Lynch.
Rodriguez, who has been in the business for 32 years, is now part of the firm in Coral Gables office as a partner and managing director.
Rodriguez spent the past six years with Merrill Lynch, where he was previously a senior vice president portfolio advisor and oversaw $84 million in client assets. Earlier, he worked for Wells Fargo and Prudential Financial.
Tatiana Martinez-Ventura, Rodriguez’ longtime associate, will also join Snowden Lane.
“We’re thrilled to be in a position to welcome a talented team like Danny and Tatiana in the midst of such market turbulence,” said Snowden Lane President & COO Freg Franks, in a statement.
Rodriguez’ practice serves both international and domestic high-net-worth individuals, families and corporations.
“As advisors, as counselors, as relationship managers it’s our responsibility to help investors who now, more than ever, need guidance on how a global event will impact their personal financial goals,” said Rodriguez in a statement.
“I’m excited to be part of a truly independent firm that prioritizes clients and advisors, while providing the tools necessary to operate at the highest level and to expand the business,” he explained.