Ameriprise Financial Announces Agreement to Acquire Retail Assets of JHS Capital Advisors
Ameriprise Financial (NYSE:AMP) today announced it has signed a definitive agreement to acquire the retail assets of JHS Capital Advisors (“JHS”), an independent broker-dealer and investment advisor based in Tampa, Fla. The transaction will build on the successful track record of growth in advice and wealth management at Ameriprise.
JHS is privately owned and provides comprehensive financial services to clients through a team of 150 financial advisors operating across the U.S. JHS generated over $38 million in revenue in 2014 and at year-end had retail assets totaling $4.1 billion. Like Ameriprise, JHS operates both employee and independent advisor channels. JHS advisors are expected to join one of the existing channels at Ameriprise.
“We’re pleased to welcome JHS advisors to the Ameriprise family,” said Neal Maglaque, Ameriprise Chief Operating Officer and head of business development within the company’s advice and wealth management division. “This is a natural fit in terms of both firms’ shared commitment and dedication to providing outstanding service to clients. We look forward to helping JHS advisors grow and serve their clients under the Ameriprise banner.”
In addition to benefiting from the strong reputation and brand awareness of Ameriprise, JHS advisors will be able to harness the robust product platform, marketing support, service capabilities and technology solutions Ameriprise offers to serve clients and support advisor growth. Through strategic investments in these and other areas, Ameriprise has built one of the highest rates of advisor retention and satisfaction in the industry.
“This is a tremendous opportunity for our advisors to be affiliated with the stature, stability and national recognition of Ameriprise,” stated Scott Bendert, JHS President and CEO. “JHS was founded on the principle of providing excellent service to clients. Ameriprise offers our advisors considerable career growth opportunities and expanded capabilities to enhance the client experience.”
The transaction is subject to customary conditions and regulatory review, and is expected to close in the third quarter of 2015.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 120 years. With a nationwide network of 10,000 financial advisors and extensive asset management, advisory and insurance capabilities, we have the strength and expertise to serve the full range of individual and institutional investors’ financial needs. For more information, visit ameriprise.com.
About JHS Capital Advisors
Headquartered in Tampa, Fla., JHS Capital Advisors LLC, a Registered Securities Broker Dealer and Registered Investment Advisor, provides personalized client services for investors nationwide. JHS advisors are dedicated to serving the full spectrum of client needs and building on a reputation for fostering multi-generational relationships.
(c) 2015 Ameriprise Financial, Inc. All rights reserved.
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