Minnesota-Based $1.3B Advisor Team Exits Ameriprise to Launch Fathom Advisors
A team of advisors managing approximately $1.3 billion in assets has left Ameriprise Financial to establish their own registered investment advisor (RIA), named Fathom Advisors, based in Bloomington, Minnesota. The new firm is led by Randy Doroff as CEO and Todd Doroff as COO, along with CIO Mark Anderson and private wealth advisors Michael Cassidy and Elizabeth Stokes. The team includes additional advisors such as Trevor Dunn, Jake Isaacson, Mark Lyon, Nick Adams, six analysts, three operations staff members, and five administrative personnel. Fathom Advisors has selected Schwab as its custodian and joined the Protocol for Broker Recruiting to facilitate client data transfer during their transition. In a statement on their website, they cited greater freedom in serving clients by selecting optimal technology, tools, platforms, and investments outside of broker/dealer constraints.
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