Advisors Bill Eldridge and Don Delmonte, along with client service associates Denise Cherry, Lyn McCracken and Sandy Foresta, have joined Ameriprise in Marlton, N.J., according to a press release from the firm.
The team previously oversaw around $158 million, Ameriprise says.
Eldridge and Delmonte both joined the financial services industry in 1985 and came to LPL in 2015, according to BrokerCheck.
The pair chose to move to Ameriprise in part to help them with succession planning, but also to lure advisors to their practice, Delmonte says in the press release.
“Frankly, we want to grow more quickly,” Delmonte says in the press release. “We are actively seeking practice acquisitions so that we can build our footprint and help more clients plan for retirement and other goals.”
Both Ameriprise and LPL have been mostly growing their advisor ranks in recent weeks. Ameriprise hired 96 advisors in the third quarter, although its ranks stood at 9,930 advisors, compared to 9,951 in the previous quarter and 9,933 in the third quarter last year, as reported.
LPL added 188 brokers in the third quarter, bringing its total to 16,439, and since then it has lured advisors from Ladenburg Thalmann broker-dealer Securities America and Advisor Group broker-dealers FSC Securities, Royal Alliance and Woodbury Financial Services, as well as from JPMorgan, Cadaret, Grant and 1st Global.