Glen Sher & Michael Jeshiva Steer $470M Sher Jeshiva Group from Wells Fargo to Ameriprise
Two high-value moves in one week signal that Wells Fargo's retention challenges and Morgan Stanley's Austin bench depth are both under pressure—and that Ameriprise's wirehouse recruiting machine isn't slowing down.
Glen Sher and Michael Jeshiva just handed Ameriprise Financial a $470 million vote of confidence, pulling their team—the Sher Jeshiva Group—out of Wells Fargo Clearing Services and planting a dual-market flag across Melville, New York and Naples, Florida.
The Sher Jeshiva Group's Strategic Move to Ameriprise
The team isn't a two-man shop. Advisor Philip Basile and client service associate Kathryn Acer-Richard made the jump as well, giving Ameriprise a fully staffed, multi-advisor unit with an established presence on both coasts of Florida and in the heart of Long Island's wealth corridor. The group's prior stop before Wells Fargo was Morgan Stanley, making this their second wirehouse departure and a clear bet on Ameriprise's platform over the traditional wirehouse model.
At $470 million in client assets, this isn't a boutique pickup—it's a statement. Ameriprise has been systematically targeting wirehouse teams with eight-figure books, and reported by InvestmentNews, the Sher Jeshiva move is part of a broader week of high-dollar recruiting activity that included a $524 million Raymond James team landing at &Partners.
Why Wells Fargo Keeps Losing Ground in the Northeast
This is not a random defection. The New York metro area and Florida's Gulf Coast represent two of the most competitive recruiting theaters in the country, and Wells Fargo has been hemorrhaging talent in both markets. For Sher and Jeshiva, the calculus was straightforward: Ameriprise's independent employee channel offers a compensation structure and operational flexibility that the wirehouse model increasingly struggles to match.
For advisors watching Wells Fargo Advisors recruiting trends, the pattern is worth noting. Teams with dual-market footprints and $400M-plus books are precisely the profiles that Ameriprise's recruiting desk targets most aggressively. This move fits the template perfectly.
Samuel Duckett Plugs a Gap in UBS's Austin Roster
While the Sher Jeshiva Group grabbed the headlines, UBS quietly made a move of its own. Samuel Duckett, coming out of Morgan Stanley, joined UBS's Austin, Texas office—a market that has exploded with wealth management demand as tech and finance money continues flowing into Central Texas.
Duckett's arrival reflects a calculated, office-level recruiting strategy from UBS rather than the splashy team acquisitions that dominate recruiting wires. Austin is a market where established Morgan Stanley advisors carry meaningful local relationships, and UBS has been UBS wirehouse recruiting in Texas to build density in exactly these high-growth secondary markets. No AUM figure has been disclosed for Duckett's book, but the strategic value of experienced wirehouse advisors in Austin's competitive landscape is self-evident.
What the Competitive Scoreboard Looks Like This Week
Zoom out and the week's moves tell a coherent story about where assets are flowing:
- Sher Jeshiva Group — $470M from Wells Fargo Clearing Services to Ameriprise Financial (Melville, NY; Naples, FL)
- Glen Sher & Michael Jeshiva — Lead advisors, previously registered with Morgan Stanley before Wells Fargo
- Philip Basile — Advisor, part of the full team transition to Ameriprise
- Samuel Duckett — Morgan Stanley to UBS, Austin, Texas; AUM undisclosed
For context, AdvisorHub's coverage of parallel moves shows UBS continuing to pick off Morgan Stanley talent in targeted markets, a pattern that has played out from Southern California to now Central Texas.
The Recruiting Calculus Advisors Need to Run
The Sher Jeshiva Group's trajectory—Morgan Stanley to Wells Fargo to Ameriprise—is a real-world case study in platform evolution. Each move reflects a deliberate choice to trade the wirehouse brand premium for greater operational autonomy and economics. Ameriprise's employee-model channel is threading a needle: institutional infrastructure without the full bureaucratic weight of a Wall Street wirehouse.
For any advisor managing a $300M-plus book with a multi-advisor structure, the math on a move like this is worth running hard. The transition costs are real, but so are the long-term economics—and the Sher Jeshiva Group clearly did the math.