Ameriprise Buys RIA From Investment Advisor Marvin Appel

(RTTNews) - Ameriprise Financial, Inc. (AMP), a financial services firm, said on Thursday that investment adviser Marvin Appel recently sold his RIA to the Long Island division of Siena Wealth Advisory Group, a group in Ameriprise's branch channel.

Appel's firm, Signalert Asset Management, LLC, manages $265 million in assets. He opted to sell the practice to Ameriprise as part of his plan for a smooth transition to retirement.

Appel will join Siena Wealth for one year tenure to continue to serve his clients.

Siena Wealth has a team of 10 advisors to manage $1.3 billion in client assets at their office locations in Melville, New York and Naples, Florida.