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Ameriprise nabs $185M Edward Jones team in latest move

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Ameriprise Financial added two financial advisors managing about $185 million to its ranks, marking it as the latest in a series of recruiting moves stretching back months.

Advisors Paul Orlando and Derek Busby joined the firm's independent channel in Meridian, Idaho, as Granite Financial Management. The team, previously with Edward Jones for about a decade, says they were drawn to Ameriprise’s investment platform, product offerings and investment diversification.

“We felt now was the right time to make a move because we wanted to have flexibility to offer clients additional investment options,” Orlando said in a statement. “We’re looking to help more clients who want these choices.”

Edward Jones declined to comment on their departure.

Orlando began his advisory career when he joined Edward Jones in 2007, according to FINRA BrokerCheck records. Busby started his career as a planner at the firm in 2009.

In addition to Edward Jones, Ameriprise has pulled in talent from a number of its rival firms over the last year including Wells Fargo, Raymond James and Morgan Stanley.

The firm's headcount rose to 9,896 independent and employee advisors at the end of 2017, up 221 from the prior year, according to the company's earnings report.

“Many advisors have come to realize everything Ameriprise has to offer, and that’s why you’re seeing these great teams joining us,” says Manish Dave, senior vice president, experienced advisor recruiting at Ameriprise. “We give a solid roadmap, and plenty of support and leadership, while preserving the flexibility and choices that advisors want so they can serve the full range of their clients’ needs.”

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