StackStone Wealth, a private advisory practice, has announced its departure from Ameriprise Financial to transition to an independent registered investment adviser (RIA).
StackStone managed nearly $2 billion at Ameriprise and generated nearly $12.7 million in annual revenue. This transition was funded by the founders, including CEO Scott Leibfried. According to StackStone’s website, the firm transition to an independent practice to have the ability to select its own resources, tools and investments.
With offices in Michigan, Illinois, Wisconsin and Iowa, the firm will maintain the same adviser teams for its clients, in addition to covering any account closure fees charged by Ameriprise. This transition went into effect June 24.
