Sophisticated Resources to Support High-Net-Worth Clients Draws Advisor with $100 Million to Ameriprise Team

Rhea-AI Summary

Q5 Wealth Management, a team managing $1.5 billion in client assets, has expanded with the addition of financial advisor Scott Guptill, who manages $100 million in client assets. The team joined Ameriprise Financial's independent channel in August 2024 from UBS Financial Services. Guptill, previously with Morgan Stanley, joined Q5 to enhance his high-net-worth clients' experiences and leverage Ameriprise's digital capabilities. This expansion comes as part of Q5's growth strategy, with the team citing Ameriprise's sophisticated resources as a key factor in their decision. Ameriprise has attracted over 400 advisors in 2023 and approximately 1,700 in the last 5 years.

Positive

• Addition of Scott Guptill brings $100M in client assets to Q5 Wealth Management
• Q5 Wealth Management manages substantial $1.5B in client assets
• Strong advisor recruitment with 400+ advisors joining Ameriprise in 2023

Negative

• None.

Insights

Financial Analyst

The addition of Scott Guptill, managing $100 million in assets, to Q5 Wealth Management represents a strategic expansion for Ameriprise's independent channel. Q5, which oversees $1.5 billion in client assets, demonstrates Ameriprise's ability to attract and retain high-caliber advisory teams. This acquisition trend is particularly noteworthy, with over 400 advisors joining in 2023 and approximately 1,700 in the past 5 years.

The movement of established advisors from major competitors like Morgan Stanley and UBS to Ameriprise indicates the firm's strengthening position in the wealth management space. This organic growth strategy through advisor recruitment helps expand AMP's assets under management and fee-based revenue streams. While the $100 million addition is relatively small compared to AMP's total AUM, the consistent execution of this growth strategy contributes to long-term value creation.

Scott Guptill, CFA was seeking to elevate his client experience and found the right fit with Q5 Wealth Management, a top team with Ameriprise

MINNEAPOLIS--(BUSINESS WIRE)-- Q5 Wealth Management, a team of five financial advisors managing $1.5 billion in client assets in Houston and Beaumont, Texas, recently expanded with the addition of financial advisor Scott Guptill, CFA. Q5 joined the independent channel of Ameriprise Financial, Inc. (NYSE: AMP) in August 2024 after a successful transition from UBS Financial Services, Inc. with a desire to significantly grow their practice by leveraging the sophisticated resources at Ameriprise. Less than three months later, the team is capitalizing on the opportunities at Ameriprise with the addition of Guptill, who manages $100 million in client assets in Houston. He was previously registered with Morgan Stanley.

Q5 Wealth Management, Powered by Ameriprise Financial. (Graphic: Business Wire)

Guptill carefully evaluated his practice goals for growth and decided to join a team and firm with the capabilities to elevate his high-net-worth clients’ experiences while creating efficiencies. Guptill was acquainted with financial advisors Mike and Ed Persia with Q5 for years. When Q5 moved to Ameriprise for similar reasons, Guptill took note of their successful transition and saw a compelling opportunity to join forces with them.

“Q5 is a world class team that is known for putting their clients first while making them feel special and confident in their ability to achieve their goals,” said Scott Guptill. “We have similar values and growth goals. When I saw them move to Ameriprise, I was captivated by how quickly they were able to leverage Ameriprise’s innovative and integrated digital capabilities to better serve their clients. I’m looking forward to our future together.”

Reflecting on the addition, Mike Persia said, “We want to grow our footprint and provide more life-changing financial advice to high-net-worth clients across the country. We’re pleased with our decision to move firms and combine with Scott because he runs an elite business and shares our vision of providing concierge-level service to clients.”

“It’s an honor to welcome Scott to Q5 Wealth Management and the firm,” said Ameriprise Field Vice President Logan Clipp, who supports the team. “Q5 is off to a tremendous start with us, and it’s inspiring to support their growth. This is the heart of what Ameriprise is all about: helping advisors grow their practices at impressive rates through enhancing the experience and advice they’re delivering to clients.”

Ameriprise Regional Vice President Tres Rouquette also supports the team.

Q5 includes financial advisors Omar Bitar, Jeremy Saba, Mike Persia, Ed Persia, and Brad Klein, as well as investment specialists Kevin Wagner and Ashley Carter, client service managers Sherri Thompson, Brandy Head and Taryn King, and client concierge Dena McNiel.

Ameriprise has continued to attract experienced, productive financial advisors, with more than 400 advisors moving their practices to Ameriprise in 2023 and approximately 1,700 joining the firm in the last 5 years.¹ To find out why experienced financial advisors are joining Ameriprise, visit ameriprise.com/why.

About the Ameriprise Ultimate Advisor Partnership

The Ameriprise Ultimate Advisor Partnership offers a differentiated experience for advisors that helps them accelerate growth while delivering an excellent client experience. Combined with the company’s culture of support and independence, the Ultimate Advisor Partnership enables advisors to scale their businesses, deepen client relationships and drive referrals for future growth.

About Ameriprise Financial

At Ameriprise Financial, we have been helping people feel confident about their financial future for 130 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors², 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.

Securities offered by Ameriprise Financial Services, LLC. Member FINRA and SIPC.

©2024 Ameriprise Financial, Inc. All rights reserved.

¹ Ameriprise Financial 2023 10-K.

2 Ameriprise Financial Q2 2024 Earnings Release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241111412304/en/

Alison Mueller, Media Relations

612.678.7183

alison.g.mueller@ampf.com

Source: Ameriprise Financial

FAQ

How much in client assets did Scott Guptill bring to Ameriprise (AMP)?

Scott Guptill brought $100 million in client assets to Ameriprise when joining Q5 Wealth Management.

How many advisors joined Ameriprise (AMP) in 2023?

More than 400 financial advisors joined Ameriprise in 2023.

What is the total amount of assets managed by Q5 Wealth Management at Ameriprise (AMP)?

Q5 Wealth Management manages $1.5 billion in client assets at Ameriprise.