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Ameriprise hires $470 million client-assets practice from Wells Fargo
The Sher Jeshiva Group said more than 90% of its clients plan to move to Ameriprise, citing technology and estate planning support for the transition.
Ameriprise Financial has added the Sher Jeshiva Group from Wells Fargo Clearing Services, bringing about $470 million in client assets into its branch channel, according to Coverager.
The practice operates in Melville, New York, and Naples, Florida, and is led by financial advisors Glen Sher and Michael Jeshiva, with financial advisor Philip Basile and registered client service associate Kathryn Acer-Richard. The team said Ameriprise’s technology, financial and estate planning capabilities, and advisor support were key factors in making the switch.
Coverager reports that more than 90% of the practice’s clients have committed to transitioning to Ameriprise. Ameriprise said the advisors are supported locally by branch manager Aaron Wolson, complex director Kevin Peters, and regional vice president Todd Hubley.
The firm also highlighted broader hiring activity, noting that about 1,700 financial advisors have joined Ameriprise over the past five years. Five months after joining Ameriprise, Monumental Financial Planning added advisor Gary Presslaff from LPL Financial, and Q5 joined the independent channel in August after moving from UBS Financial Services.