Osaic Adds $453M Oregon Team From Ameriprise as Florida Group Joins Ameriprise From Wells Fargo
It’s already been a busy month for Ameriprise Financial (NYSE:AMP) as one $453 million Oregon advisory team departs for Osaic, while a $260 million Florida group joins from Wells Fargo — highlighting the ongoing competition for top independent adviser talent.
First, Osaic – one of the nation’s largest wealth managers and independent broker-dealers – announced that Pilot Rock Financial Advisors had joined its growing network of independent advisers. Managing $453 million in client assets, the Medford, Ore.-based team moved to Osaic from Ameriprise.
The eight-person advisory team at Pilot Rock takes a values-based approach to financial, wealth, and retirement planning. The firm said it simplifies the complex and delivers comprehensive solutions. The company said its decision to join Osaic was rooted in its fiduciary, client-first philosophy. It plans to use Osaic’s open-architecture technology platform to streamline operations and deliver higher-level client service. It plans to leverage Osaic’s open-architecture technology platform to streamline operations and elevate client service.
“At Pilot Rock, our top priority is always the client,” said Nathan Salhus, financial adviser at Pilot Rock. “Affiliating with Osaic allows us to deepen that commitment by leveraging their industry leading technology and adviser support to provide high-touch client service and innovative solutions.”
The firm listens closely to clients’ concerns and goals to design customized wealth management solutions. Salhus is joined at Pilot Rock by advisers Mark Degner, Richard Wilson II, Brian Griffith, Nicolas Nachbur, Ryan Westfall, Robert Cavens, and Ryan Wilson.
“Our platform is designed to empower advisers with the support, resources, and tools they need to make a real difference in their clients lives,” said Kristen Kimmell, executive vice president of business solutions at Osaic. “Pilot Rock’s client-centric approach and dedication aligns perfectly with Osaic’s values, and we are proud to support their continued growth.”
Osaic Inc., a portfolio company of Reverence Capital Partners, is one of the nation’s largest providers of wealth management strategies, supporting approximately 11,000 financial professionals. Last month, the wealth manager brought on financial adviser founders from the newly launched ArrowPoint Wealth Advisors. The women-owned firm oversees $379 million in assets under management with offices in Oklahoma City and Edmond, Okla.
Meanwhile, Ameriprise welcomed a new addition, Oakwood Financial Group, a Winter Park, Fla.-based team formerly with Wells Fargo Clearing Services Inc. Oakwood Financial Group reports $260 million in client assets and is led by financial adviser Mike Lloyd, and includes financial adviser Gregg Mulvany and client service specialist Joel Ingram.
The decision to make a move was driven by the Oakwood team’s desire to elevate their technology capabilities and deliver a more seamless, modern experience for clients.
“The professionalism and care we experienced when meeting with leaders at Ameriprise made a lasting impression. It was clear they were genuinely interested in understanding our practice and supporting our long-term success.” said Lloyd. “The more we learned about the firm – the technology, the culture, the support – the more confident we became that this was the right move.”
Lloyd also highlighted the welcoming and collaborative atmosphere of the local Ameriprise branch office as a key part of the decision. “The culture here is incredibly supportive,” he said. “It’s a place where advisers are encouraged to grow and lean on one another. That kind of environment makes a real difference, both for us and for our clients.”
Since joining, the team has quickly experienced the benefits of Ameriprise’s integrated technology platform. “The technology is intuitive and powerful – it’s transforming how we operate and engage with our clients,” Lloyd added. “We’re discovering new efficiencies every day, and our clients are noticing the difference. The transition has been smooth, and the feedback has been overwhelmingly positive.”
Oakwood Financial Group is supported locally by Dylana Hopler, Ameriprise complex director, and Michael Rearden, Ameriprise regional vice president.
With investment advice, asset management and insurance capabilities, Ameriprise reports a nationwide network of approximately 10,000 financial advisers.
Earlier this year, AltsWire reported that ChoiceOne Bank – a bank holding company headquartered in Sparta, Mich., and with more than $4.3 billion in assets – transitioned its investment program to the Ameriprise Financial Institution Group from Osaic Institutions Inc. The bank’s investment program now operates under the name ChoiceOne Wealth Management, a financial advisory practice of Ameriprise Financial Services LLC.
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