On June 16, 2025, Ameriprise Financial saw the departure of Allegiant Private Wealth, a private wealth advisory practice led by Christine Selzer, which joined the independent channel from Merrill Lynch. The team managed over $300 million in client assets.
The team's decision to leave was driven by a desire for greater independence and a stronger emphasis on investment management aligned with comprehensive financial planning. This move highlights the competitive environment for retaining high-value advisor teams.
The loss of a team with such a substantial asset base can impact Ameriprise's overall assets under management and its competitive position in the wealth management sector. This event underscores the ongoing challenges in advisor retention within the financial industry.
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