Advisor Brings His $250 Million Practice to Ameriprise, Joining Forces with Fellow Advisor

Rhea-AI Summary

Financial advisor Michael Schwartz, CFP® and team recently brought their practice to the independent channel of Ameriprise Financial, Inc. from Cetera Advisor Networks, LLC with nearly $250 million in client assets.

Positive

• Michael Schwartz and his team joined an established Ameriprise practice in New York City, Iron Birch Advisors, which manages over $700 million in client assets.
• Schwartz's move to Ameriprise gives him access to financial planning capabilities, industry-leading technology, and a wide array of products that can enhance the experience and value he provides for clients.

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• None.

Michael Schwartz left Cetera to join Iron Birch Advisors, an established practice led by Ameriprise advisor Gregory Manto, whom he has known for more than 25 years

MINNEAPOLIS--(BUSINESS WIRE)-- Financial advisor Michael Schwartz, CFP^® and team recently brought their practice to the independent channel of Ameriprise Financial, Inc. (NYSE: AMP) from Cetera Advisor Networks, LLC with nearly $250 million in client assets. Schwartz and team joined an established Ameriprise practice in New York City, Iron Birch Advisors, which is led by Ameriprise private wealth advisor Gregory Manto, CRPC™, APMA™.

Iron Birch Advisors was established in 2018 and manages over $700 million in client assets. The New York City-based team includes 20 financial advisors and seven support staff members.

Schwartz and Manto have known each other for more than 25 years and share similar values, starting with their deep commitment to serving clients. The two referred clients to one another for years given Manto’s focus on complex financial planning and Schwartz’s expertise in accounting. After two decades, they found the right synergies were in place for them to work together in an official capacity, leveraging the capabilities and support offered by Ameriprise.

“Joining Greg and Ameriprise gives me access to financial planning capabilities, industry-leading technology and a wide-array of products that are already helping me elevate the experience and value I provide for clients,” said Schwartz, reflecting on his move. “I’ve always been impressed with Greg’s business and reputation, so the decision to join his practice was an easy one.”

Manto agreed, saying, “We share the same focus, which is to help clients build and sustain wealth, and confidently achieve the goals that matter most to them. Michael is a stand-up person, and I’m thrilled to welcome him to the team.”

The team is supported locally by Ameriprise franchise field vice president Matthew Roesser.

Ameriprise has continued to attract experienced, productive financial advisors, with approximately 1,700 joining the firm in the last 5 years.¹ Nine out of ten advisors who joined Ameriprise say the firm’s technology, financial planning capabilities and ability to acquire clients is better than their previous firm.² To find out why experienced financial advisors are joining Ameriprise, visit ameriprise.com/why.

About Ameriprise Financial

At Ameriprise Financial, we have been helping people feel more confident about their financial future for more than 125 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors³, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial Services, LLC is an Equal Opportunity Employer.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Ameriprise Financial Planning Services are optional, offered separately, and priced according to the complexity of your case and your financial advisor’s practice fee schedule. Your fees and financial advisor may be subject to change.

Financial planning is generally appropriate if you have financial goals, sufficient assets and income to address your financial goals, and are willing to pay an investment advisory fee for recommendations to help you achieve those goals. Please review the Ameriprise Financial Planning Client Disclosure Brochure or, for a consolidated advisory relationship, the Ameriprise Managed Accounts and Financial Planning Service Disclosure Brochure, for a full description of services offered, including fees and expenses.

The initial consultation provides an overview of financial planning concepts. You will not receive written analysis and/or recommendations.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

©2023 Ameriprise Financial, Inc. All rights reserved.

¹ Ameriprise Financial 2022 10-K.

² Ameriprise asked experienced advisors who moved their book of business to the firm in the last one-to-five years to compare its support, resources, and capabilities to their previous firm and state their satisfaction with their experience. The survey results identified the top ways Ameriprise stands out compared to competitors. 294 advisors responded to the “Ultimate Advisor Partnership” survey, which was conducted in November 2021.

³ Ameriprise Financial Q3 2022 Earnings Release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230612855649/en/

Allison Harries, Media Relations

612.678.7035

allison.h.harries@ampf.com

Source: Ameriprise Financial, Inc.

FAQ

Who did Michael Schwartz and his team join?

Michael Schwartz and his team joined Iron Birch Advisors, an established Ameriprise practice in New York City.

How much in client assets did Schwartz bring to Ameriprise?

Schwartz brought nearly $250 million in client assets to Ameriprise.

How much client assets does Iron Birch Advisors manage?

Iron Birch Advisors manages over $700 million in client assets.

Why did Schwartz decide to join Ameriprise?

Schwartz joined Ameriprise to gain access to financial planning capabilities, industry-leading technology, and a wide array of products that can enhance the experience and value he provides for clients.

How many financial advisors have joined Ameriprise in the last 5 years?

Approximately 1,700 financial advisors have joined Ameriprise in the last 5 years.

What do advisors say about joining Ameriprise?

Nine out of ten advisors who joined Ameriprise say the firm's technology, financial planning capabilities, and ability to acquire clients are better than their previous firm.