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Growth Resources Attract Family Practice with $165 Million in Assets to Ameriprise Financial
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
The Coastal Group, a wealth management practice managing $165 million in client assets, has transitioned to Ameriprise Financial (NYSE: AMP) from RBC Capital Markets. Founded by Marilyn Neckes, the team aims to leverage Ameriprise’s financial planning platform and coaching resources for growth. Neckes, with 38 years of experience, emphasizes commitment to client care, while advisor Scott Zingone highlights the need for advanced tools to facilitate client service. Ameriprise has attracted around 1,600 advisors in the last five years, indicating its growing appeal in the financial advisory sector.
Positive
The Coastal Group managing $165 million in client assets enhances Ameriprise's portfolio.
The transition reflects the Coastal Group's focus on growth through enhanced resources and support from Ameriprise.
Ameriprise has attracted approximately 1,600 advisors over the past five years, showcasing its strong market position.
Negative
None.
The Coastal Group aspires to grow their business with the help of Ameriprise’s capabilities and coaching programs
MINNEAPOLIS--(BUSINESS WIRE)--
The Coastal Group, a wealth management practice managing $165 million in client assets out of two offices in Florida and Connecticut, recently joined the branch channel of Ameriprise Financial, Inc. (NYSE: AMP) from RBC Capital Markets. The team was founded by Managing Director Marilyn Neckes, CIMA®, CRPS®, AAMS® and includes her sons, Financial AdvisorsKyle Zingone
The Coastal Group, from left to right: Helen Juskus, Scott Zingone, Marilyn Neckes, Kyle Zingone. The Coastal Group joined Ameriprise Financial. (Photo: Business Wire)
AAMS® and Scott Zingone, CFP®, AAMS® and Client Service Associate Helen Juskus. As they considered where to move their practice, the advisors decided the growth resources offered by Ameriprise – notably the firm’s financial planning platform and coaching programs – would best help them increase their revenue in the coming years.
Neckes, who has 38 years of experience serving clients, said about the move, “Ameriprise supports the way we want to grow, which includes maintaining two office locations in Connecticut and Florida, so we can continue to provide the comprehensive advice our clients expect from us. I feel confident that our clients are going to be taken care of for decades to come because my team has robust capabilities and support at their fingertips.”
Scott Zingone added, “The reason we moved firms is about growth. We need more sophisticated tools and support to continue the exponential growth we’ve achieved over the last few years through strong client referrals. The leadership support and coaching programs Ameriprise provides is impressive – we have access to experts across the firm who are dedicated to helping us grow and service more clients.”
Ameriprise Complex Director Stacy Thomson, who supports the team along with Ameriprise Complex Director Dan Landrau, said, “We’re passionate about helping Ameriprise advisors grow by developing the tools and coaching they need to bring their client experience to the next level. Marilyn, Kyle, and Scott have the full power of our nationally-branded firm behind them, and we’re excited to help them achieve their ambitious growth goal.”
The Coastal Group serves a wide variety of clients across many generations and U.S. states through comprehensive financial planning, including high net worth individuals as well as female clients who are in transition due to divorce or widowhood. Their average client has $1-10 million in investable assets and is interested in building a legacy through wealth to leave their family.
Ameriprise has continued to attract experienced, productive financial advisors, with approximately 1,600 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 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 advisors3, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.
2Ameriprise 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.
What is the significance of The Coastal Group joining Ameriprise (NYSE: AMP)?
The Coastal Group's transition to Ameriprise signifies a strategic move to leverage enhanced resources and support for growth, managing $165 million in client assets.
How many advisors has Ameriprise (NYSE: AMP) attracted recently?
Ameriprise has attracted about 1,600 financial advisors in the last five years, reflecting its growing appeal in the financial advisory market.
Who founded The Coastal Group that joined Ameriprise (NYSE: AMP)?
The Coastal Group was founded by Marilyn Neckes, who has 38 years of experience in wealth management.
What type of clients does The Coastal Group serve?
The Coastal Group serves a diverse clientele, including high-net-worth individuals and clients experiencing life transitions, such as divorce or widowhood.
