Advisor Team With $150 Million in Assets Joins Ameriprise from Waddell & Reed

Rhea-AI Summary

Tranquil Lakes Investment Advisors, managing $150 million in assets, has transitioned to Ameriprise Financial (NYSE: AMP) from Waddell & Reed. Key team members include Jason Hatch, Mark Wood, Frank Janowitsch, Mary Weber, and Benjamin Esdaile. Following an acquisition of their previous firm, the team sought a reputable firm to enhance client experience and growth potential. They appreciated Ameriprise’s support during the transition and aim to expand financial planning services. Over 4,300 advisors have joined Ameriprise since 2008, reflecting its strong market position.

Positive

• Tranquil Lakes managing $150 million in client assets enhances Ameriprise's advisory capabilities.
• Transition support from Ameriprise allows focus on client services.
• Opportunity for growth through enhanced financial planning and practice acquisitions.

Negative

• None.

Tranquil Lakes Investment Advisors, a wealth management practice managing $150 million in client assets, joined the independent channel of Ameriprise Financial, LLC (NYSE: AMP) from Waddell & Reed in Madison, Wisconsin. The team consists of Jason Hatch, AWMA^®, Mark Wood, AAMS^® and Frank Janowitsch, APMA^®, Mary Weber, MBA, and Benjamin Esdaile. After their previous firm was acquired, the team thoroughly evaluated the marketplace and found that Ameriprise had the reputation, robust support for advisors and dedicated transition team that made them feel confident in making the move.

Jason Hatch, Mark Wood and Frank Janowitsch with Tranquil Lakes Investment Advisors, a financial advisory practice of Ameriprise Financial. Photo courtesy of Tranquil Lakes.

Reflecting on the transition, Hatch said, “We were at an inflection point – our firm was changing. We prepared clients for the potential that we would move firms, and they liked that we did our research. We looked at the marketplace and found a firm that had a solid reputation and was a good fit for our business and most importantly, our clients. And, their reaction to Ameriprise has been overwhelmingly positive. One client told me, ‘Congrats, you’re at a great firm and we’re excited for you.’”

Tranquil Lakes evaluated many independent firms against their key criteria. They wanted to affiliate with a firm that prioritizes the client experience, has accessible leaders, provides integrated technology, delivers capabilities for growth, and has a strong brand reputation for integrity and transparency.

“We are excited about Ameriprise, their capabilities and our potential for growth,” said Hatch, who has 15 years of experience in the industry. “We have the opportunity to do more financial planning, expand through purchasing practices, and to continue building out our client experience. We’ve appreciated the transition support to set up our practice the right way, so we can hit the ground running. Their expertise has allowed us to focus on servicing clients rather than transition activities.”

The team is supported locally by Ameriprise field vice president Brad Sabol. “Ameriprise offers personalized support for advisors. We care about what matters to them, and we are dedicated to delivering the experience each advisor wants for their clients. I’m thrilled to partner with Tranquil Lakes to grow their practice and help more people achieve their financial goals.”

Tranquil Lakes serves a wide variety of clients, including families, professionals, blue collar workers, Wisconsin cranberry growers, and company 401ks.

More than 4,300 financial advisors have joined Ameriprise since 2008.¹ 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 confident about their financial future for more than 125 years. With extensive advisory, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs. For more information, or to find an Ameriprise financial advisor, visit ameriprise.com.

Ameriprise Financial Services, LLC is an Equal Opportunity Employer.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

© 2021 Ameriprise Financial, Inc. All rights reserved.

¹ Company data as of Q2 2020.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005902/en/

FAQ

What did Tranquil Lakes Investment Advisors announce regarding their affiliation with Ameriprise Financial on October 2023?

Tranquil Lakes Investment Advisors announced their transition to Ameriprise Financial (NYSE: AMP), managing $150 million in client assets as part of the independent channel.

Who are the key team members of Tranquil Lakes Investment Advisors after joining Ameriprise Financial?

The key team members include Jason Hatch, Mark Wood, Frank Janowitsch, Mary Weber, and Benjamin Esdaile.

Why did Tranquil Lakes Investment Advisors choose Ameriprise Financial?

They chose Ameriprise for its strong reputation, robust support for advisors, dedicated transition team, and focus on enhancing client experiences.

How many financial advisors have joined Ameriprise since 2008?

More than 4,300 financial advisors have joined Ameriprise since 2008.

What are the growth opportunities for Tranquil Lakes under Ameriprise Financial?

Tranquil Lakes aims to expand financial planning services and pursue practice acquisitions under Ameriprise.