Crosstown Financial Advisors, an independent practice with offices in Sugar Grove and Lisle, Ill., has joined Ameriprise Financial LLC.
The Crosstown team, which includes financial advisors Christopher Forbes, Thomas Morrissy, Kathleen Morrissy and David Servatius, was formerly with Waddell & Reed, where the practice managed $192 million in client assets, according to a news release.
Late last year, the Crosstown advisors decided it was in theirs and their clients’ best interests to begin a due diligence search for a new partner after the Macquarie Group announced plans to acquire Waddell & Reed.
“Ameriprise gave us confidence that they would not only guide us through the transition process, but they would also support our future growth,” Forbes said in the news release. “The technology platform far exceeded our expectations. It’s a game changer that clients only need one login to see progress toward achieving their goals.”
Thomas Morrissy, the team’s senior partner, said he plans to retire later this year after three decades of industry service.
“I have peace of mind that my clients will be in good hands,” he said in the news release. “Ameriprise has a strong reputation for serving clients with integrity. My fellow team members—particularly my daughter, Kathleen—are surrounded by leaders and corporate office experts who are ready and able to support their personal and practice growth.”
Ameriprise Senior Field Vice President Trish Moll will support the Crosstown team locally.
Founded in 1894, Ameriprise Financial Inc. is a diversified financial services company and bank holding company incorporated in Delaware and headquartered in Minneapolis.