Fathom Advisors Launches With $1.3 Billion After 23-Person Team Leaves Ameriprise
Updated
Updated · Wealth Management · Sep 17
Fathom Advisors Launches With $1.3 Billion After 23-Person Team Leaves Ameriprise
1 articles · Updated · Wealth Management · Sep 17
Summary
$1.3 billion in client assets moved with a 23-person Bloomington, Minnesota team that left Ameriprise to form independent RIA Fathom Advisors after about 30 years at the broker-dealer.
Fathom said it broke away to gain more freedom over client service, including choosing its own technology, platforms and investments instead of relying on Ameriprise's in-house resources.
Schwab will custody the new firm's assets, according to its Form ADV, while Fathom also joined the Protocol for Broker Recruiting to ease client-data transfers during the transition.
Randy Doroff leads the firm as CEO alongside COO Todd Doroff, CIO Mark Anderson and private wealth advisors Michael Cassidy and Elizabeth Stokes, underscoring a full-team liftout rather than a solo departure.