ON THE MOVE-Ameriprise adds veteran advisers from Wells, LPL

Aug 22 (Reuters) - Ameriprise Financial Inc has added two veteran adviser teams from Wells Fargo & Co and LPL Financial that together managed more than $225 million in client assets.

The teams, both New Jersey-based, joined Ameriprise's franchise group, which caters to independent advisers who also function as business owners. The unit accounts for roughly 78 percent of the company's adviser base, which also includes a traditional employee division.

"Their growth model through acquisition is tremendous," said adviser John Lupi, a 26-year industry veteran, who moved to Ameriprise last week with his team from Wells Fargo. "We want to grow the size and scope of the branch."

Lupi moved with colleagues Richard Karpinski and Jose Hernandez and said he hopes to eventually expand his branch to 10 to 15 advisers. The team, which managed about $110 million in client assets, is based in Colts Neck, New Jersey.

After spending the bulk of his adviser career at the brokerages of big Wall Street companies, Lupi said, moving to Ameriprise brought a change of pace from the big bank mentality he experienced at other firms.

"Their focus is on the client specifically, and that's directly in line with our philosophy," he said.

Also on the move, adviser James Marchesi and his team joined Ameriprise in Chester, New Jersey, from LPL Financial, where they managed more than $115 million in client assets. Marchesi had previously been an adviser at Citigroup and before that, Merrill Lynch.

Ameriprise, based in Minneapolis, has more than 9,600 advisers across the United States. Many of the company's big broker recruits so far this year have come from top U.S. brokerages, including Morgan Stanley Smith Barney, Bank of America's Merrill Lynch and Wells Fargo Advisors.