Charles Hart, who had been an independent advisor since 1982, has joined Ameriprise’s employee broker-dealer division. Hart, who managed $114 million in client assets, is now based Ameriprise's Plano, Texas, office.
“We evaluated where we thought the industry was going,” Hart told On Wall Street. “Compliance has become more challenging, and more rules are likely to be added. We could have added a compliance officer to our independent firm. Instead, we’re effectively using Ameriprise as a compliance officer and spreading the cost over thousands of reps.”
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