On July 24, 2025, a team of five New Jersey-based financial advisors, previously with Ameriprise Financial, launched Laurel Oak Wealth Management, a new independent registered investment advisory firm. This team managed more than $2.3 billion in client assets.
The founding partners, Christopher Heiser, Robert Andreacchio, Louis LaSelva, Matthew Fitzgerald, and Keith Radimer, cited a desire for greater flexibility to tailor strategies without corporate limitations. This move represents a significant outflow of assets from Ameriprise's platform.
The departure of such a large team with substantial assets highlights the competitive pressures in the wealth management industry and the appeal of the independent RIA model. This event will impact Ameriprise's overall assets under management and its advisor retention metrics.
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