MANHATTAN BEACH, Calif.–Kinecta Federal Credit Union is moving its wealth management unit to a new advisor.
The $6.84-billion Kinecta reported it has selected Ameriprise Financial to provide services to Kinecta Financial Management, which has $2 billion in assets under management. The unit employs approximately 20 advisors in California and New York.
Ameriprise Financial will replace LPL Financial.
“Our new partnership with Ameriprise Financial allows us to offer an elevated level of service backed by powerful digital tools and technology to help our clients achieve their goals with greater confidence,” Donna McNeely, president of Kinecta Financial Management Co., said in a statement. “We’re confident we’ll have top-notch expertise and resources behind us with Ameriprise, and we’re excited to bring new capabilities to our advisors and clients.”
According to the organizations, conversion of Kinecta from LPL to Ameriprise is expected to be completed by the end of 2024.
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