WealthManagement.com reported on October 28 that a Newport Beach team led by Matt Webber and Chris Illiano has left Ameriprise Financial and joined Citizens Private Wealth, where it now operates as Webber Wealth Partners.
According to the report, the team previously managed more than $1.2 billion in total assets at Ameriprise. That figure measures client assets under management, not a purchase price or revenue. WealthManagement.com said the team serves high-net-worth and ultra-high-net-worth clients.
In a statement quoted by the outlet, Webber said joining Citizens gives the team access to an integrated platform that combines banking and wealth capabilities. Paul Casey, head of wealth management at Citizens, described California as an important growth market, the report said. According to the report, Citizens Private Wealth operates offices in Newport Beach, San Francisco and Los Angeles, with the private bank also staffing teams in additional California cities.
Our review did not locate a separate Citizens press release on the move, so the account of the deal rests on the WealthManagement.com report and the comments it carried. The outlet's report also said Citizens has recruited 13 teams representing $13.2 billion in client assets over the past two years. An August trade article had put that figure at 12 teams and $12 billion since 2024, so the October total reflects an update to the earlier count.
Citizens is headquartered in Providence, Rhode Island, according to its 10-Q filing, and is listed on the NYSE under the ticker CFG, according to Citizens' newsroom page. Its quarterly 10-Q for the period ended June 30, 2026 reported total assets of $233.8 billion and total client assets of $65.7 billion, including $38.7 billion of assets under management. Citizens' earlier California additions include a Newport Beach team led by Kris Reddaway, which Citizens said in a March 2025 release previously managed about $900 million; AdvisorHub reported that team came from Merrill Lynch. Trade coverage also reported an $880 million Newport Beach team led by Eric Bradley joining Citizens.
The sources do not describe how the Webber team's clients will be transitioned or whether additional California hires are planned. Advisors and recruiters tracking the move will be watching whether Citizens continues to add teams in the state at the pace its recent recruiting totals suggest.