$470M Advisory Team Defects from Wells Fargo to Ameriprise
Event summary
- $470M advisory team Sher Jeshiva Group joins Ameriprise from Wells Fargo.
- Team includes four advisors and one registered client service associate.
- Practice operates in Melville, NY and Naples, FL.
- Over 90% of clients committed to transitioning with the team.
The big picture
This move continues Ameriprise's pattern of attracting experienced advisors from competitors, with approximately 1,700 joining in the last five years. The acquisition suggests Ameriprise is winning the talent war through superior technology and client-focused culture. The $470M AUM figure represents meaningful scale for a single team transition.
What we're watching
- Client Retention
- Whether Ameriprise can maintain the 90%+ client transition rate during onboarding.
- Competitive Response
- How Wells Fargo reacts to this high-profile defection in its advisory ranks.
- Integration Success
- The pace at which Sher Jeshiva Group can leverage Ameriprise's technology platform for growth.