$836M Ameriprise Team Launches Midwest RIA

Why It Matters

The spin‑out reflects a broader industry trend toward independent RIAs, offering advisors greater fee transparency and operational flexibility while intensifying competition among custodians and technology platforms.

Key Takeaways

• Bedford Group launches RIA with $836M assets under management
• Team remains Ameriprise‑registered, using Private Client Services for brokerage
• Schwab selected as custodian for the new RIA
• Founder Joshua Wright leads as CEO, expanding to Kansas and Missouri
• Alpine Capital Research CEO holds ownership stake in the RIA

Pulse Analysis

The Bedford Group’s decision to spin off a stand‑alone registered investment advisor marks another milestone in the accelerating wave of wealth‑management teams seeking greater autonomy. Managing roughly $836 million in client assets, the St. Louis‑based practice joins a growing list of Ameriprise‑affiliated groups that have elected to separate their advisory operations from the parent broker‑dealer. Industry analysts view such moves as a response to client demand for fee‑transparent structures and to regulatory pressures that favor independent RIAs. By establishing its own RIA, the Bedford team positions itself to capture a larger share of fee‑based revenue while maintaining the brand equity built over a decade.

The new firm will remain registered with Ameriprise while routing brokerage transactions through the broker‑dealer’s Private Client Services platform, a hybrid model that preserves existing distribution channels. Choosing Schwab as custodian reflects a broader industry shift toward large, technology‑driven clearing firms that can offer low‑cost execution and robust reporting tools. This combination of Ameriprise backing and Schwab infrastructure gives the Bedford Group a competitive edge in operational efficiency, allowing advisors to focus on client relationships rather than back‑office logistics.

From a market perspective, the Bedford Group’s $836 million platform provides a solid launchpad for future asset growth, especially as advisors tap into underserved Midwestern markets in Kansas and Missouri. The involvement of Nicholas Tompras, CEO of Alpine Capital Research, signals potential access to valuation‑focused investment strategies that could differentiate the RIA’s product suite. As more advisor teams adopt similar spin‑out structures, competition among custodians and technology providers is likely to intensify, driving down costs and spurring innovation in client‑experience platforms. Investors and firms alike will watch the Bedford Group’s performance as a barometer for the viability of hybrid RIA models.