A Morgan Stanley team managing $321 million in institutional and client assets in Middleton, Wis., has joined the employee channel of Ameriprise Financial, according to a release from Ameriprise.
Ron Phelps and Jacob Hamus made the move in late March after spending 24 years and 11 years, respectively, at Morgan Stanley. The release noted that they made the move at that time because they were comfortable that Ameriprise would help them provide excellent service to their clients amid the Covid-19 pandemic.
The release said Phelps and Hamus were also impressed by Ameriprise’s suite of technology and other capabilities that will help clients of the firm achieve their financial goals, even in the face of market volatility and economic disruption. Phelps and Hamus were also pleased that Ameriprise is establishing a new office for their team and other advisors in the Middleton area.
The team, which operates under the Phelps Hamus Group name, also includes client service associates Wendy Campbell and Lyam Hunt. They are supported locally by Ameriprise branch manager Paul Jackson.
Phelps said transitioning in an all-virtual environment had its complexities, but that joining Ameriprise was the right move for their clients and business. “We operate a hybrid practice serving both wealth management and institutional clients. Because of this, it was important for us to have access to a wide range of investment capabilities and products—and the ability to serve the clients in the way that best suits their unique needs,” he said in a statement.
Minneapolis-based Ameriprise has a nationwide network of approximately 10,000 financial advisors. The company said more than 4,000 financial advisors have joined since 2008.