Ameriprise Adds $1.6B The Atlantic Group from Oppenhimer & Co. 

Ameriprise Financial has added a 16-person advisory team from Oppenheimer & Co., where they managed $1.6 billion in client assets. 

Boca Raton, FL-based The Atlantic Group, founded in 2014, is led by founding partners Andrew Lerner and Logan Shalmi. The team includes nine financial advisors and seven support staffers. 

The team will report to Ameriprise’s region VP Michael Rearden, complex director Daniel Landrau, and branch manager Drew Granauro will also provide support to the team. 

“We’ve always prioritized delivering a high-touch, personalized experience to our clients,” Lerner said. “Ameriprise offers the advanced planning tools, broad range of investment products, and top-tier technology that allow us to take that experience to the next level.”  

Ameriprise’s latest addition contributes to the firm’s mass acquisitions of wealth management firms. Recently, Ameriprise added Miami, FL-based JMOD Financial Services, which oversees $110 million in client assets, from LPL Financial. 

During the second quarter, Ameriprise announced it would no longer disclose advisor headcount and retention rates, stating it was following a move pulled by its competitors. 

Before Ameriprise, Raymond James stated in January it would stop reporting quarterly advisor headcount, as the firm adopts a wider industry trend, which has already been followed by Morgan Stanley, Wells Fargo, and Bank of America’s Merrill Lynch.

Pictured: The Atlantic Group