Ameriprise Financial Inc. has expanded its independent advisory channel with the addition of Pinnacle Wealth Management, a Louisiana-based team that brings approximately $110 million in assets under management.
The team of three advisers joined from LPL Financial and will be supported by Ameriprise regional staff, the company said.
“With the digital capabilities and support of Ameriprise behind us, we’re well positioned to grow our business while elevating the experience we provide to our clients,” Vincent Lauer, private wealth adviser, said in a statement.
The firm noted that approximately 1,700 advisers have joined its network over the past five years as it continues to expand its independent advisory channel.
Northwestern Mutual Life Insurance Co. said last year it intends to hire 5,000 new financial advisers, representatives, and interns in 2025, according to BestWire.
Citing an internal study, Northwestern Mutual said 30% of Americans reported feeling financially insecure, near a decade high, contributing to increased demand for financial professionals. Financial insecurity is “epidemic” in the United States, and people are seeking an adviser in order to address that, said John Roberts, Northwestern Mutual’s chief field officer.
Ameriprise reported continued growth in its wealth management division, with record client assets reaching about $1.7 trillion as of year-end 2025, driven by strong inflows into advisory and managed accounts. The firm also highlighted ongoing adviser recruitment, with 336 experienced advisers joining in 2025 alone, underscoring sustained expansion in its independent channel.
The company’s Advice & Wealth Management segment continued to show organic expansion, supported by technology upgrades and increased digital adoption across its advisory platforms.
Earlier in the year, Ameriprise moved to consolidate oversight of its adviser divisions under a single leadership structure, aimed at streamlining employee, franchise, and independent channels. The change is part of a broader effort to align recruitment, retention, and institutional partnerships more closely across its advisory business.
