Ameriprise welcomes $100M advisor to its branch channel

investmentnews.com:

A former Wells Fargo Clearing Services financial advisor has made the break to Ameriprise Financial in search of an expansive phase of his career.

Michael Cruz’s $100 million AUM practice joins the branch channel of Ameriprise in Temecula, California, bringing a wealth of industry experience spanning more than 30 years. He is supported locally by Ameriprise complex director David Spataro and Ameriprise regional vice president James Frisone.

“I’m at a point in my career where I want to expand and help even more clients. Ameriprise has a wide array of products and services, an extensive financial planning platform and an integrated suite of technology to elevate my client service model and help capture new opportunities and referrals,” said Cruz. 

Cruz adds to the 400 advisors to have joined Ameriprise in 2023 and around 1,700 to have done so in the last five years.

“We’re thrilled to welcome Michael and his clients to Ameriprise,” saidSpataro. “We look forward to partnering with him to achieve the goals he has for his practice and deliver a truly differentiated client experience with all Ameriprise has to offer.”

Earlier this year, the NFL Players Association tapped Ameriprise as an “institutional financial advisor,” the sixth such firm in its registered financial advisor program, which is more than two decades old and was previously limited to individual financial advisors. At the end of last year, there were more than 100 individual advisors in the program.