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SEC records show $8 billion Rise team moved custody from Ameriprise to Schwab

The Bedford, N.H. team's Sept. 23 re-registration accounted for about 55 percent of the $14.58 billion in advisor moves recorded that week.

By The Moves DeskFriday, October 2 at 3:46 PM ET

SEC registration records show a Bedford, N.H. team, Rise Private Wealth Management, re-registered its $8.0 billion book from Ameriprise to Schwab custody on Sept. 23—the largest move in a week PWD's tracking puts at $14.58 billion.

The math is stark: $8.0 billion is about 55 percent of the tracked weekly total, and the rest of the sheet—every other liftout, breakaway, and team move recorded during the period—combined to less than half of what that one New Hampshire team moved by itself. This was not a broad week of churn; it was a single large event with a supporting cast.

The next largest liftout on the sheet was The Atlantic Group, a $1.6 billion team led by Andrew Lerner in Boca Raton, Fla., which moved from Oppenheimer to Ameriprise on Sept. 26, followed by Cornerstone Capital, a $1.4 billion Palo Alto practice led by Brad Dinsmore, which moved to Cerity Partners on Oct. 2.

The $8.0 billion to $1.6 billion drop-off defines the week.

Rise's $8.0B move is five times the week's next-largest team

Tracked team moves by assets, week of Sept. 23–Oct. 2

Rise Private Wealth Management$8B

The Atlantic Group$1.6B

Cornerstone Capital$1.4B

Cullman/Holt Group$1.3B

Greenwood Wealth Partners$1.25B

Rowland Sullivan Wealth Management$0.74B

Harvest Investment Consultants$0.56B

Ecclesiastes Wealth Partners$0.55B

SEC REGISTRATION RECORDS · PWD TRACKING · OCT 2026

The $8.0 billion to $1.6 billion drop-off defines the week.

A custody re-registration

The Rise filing kept the team's name and Bedford location and did not involve a new employer or a new shingle; it changed the registration of its $8.0 billion book from Ameriprise to Schwab custody. In a liftout, assets follow people; in a custody re-registration, assets follow a platform decision. The filing does not state a reason, but the record shows the entire book moving to a different custody arrangement on a single day.

An $8.0 billion book changing custody is a large operational event: thousands of client accounts moved to a new clearing and custody stack, and the registration record landed with the new custodian in a single filing. That is the scale at which a business moves its entire book.

A separate Rise entry in the records shows an $8.1 billion book with a firm history switching from Ameriprise to Rise on Sept. 10, 2025, which suggests the team had already established an independent identity more than a year before the custody switch. The Sept. 23 filing therefore reads less like a new breakaway than the second move by an existing RIA, this time on the custody side.

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