Welcome to our dedicated page for Ameriprise Financial news (Ticker: AMP), a resource for investors and traders seeking the latest updates and insights on Ameriprise Financial stock.
Ameriprise Financial, Inc. (NYSE: AMP) is a leading name in financial planning and services in the United States. Established over 130 years ago, Ameriprise specializes in providing personalized financial advice to individuals, businesses, and institutions. The company has built its reputation on a foundation of core values such as client focus, integrity, excellence, and respect for individuals and communities.
Ameriprise stands out with its extensive network of approximately 10,000 financial advisors who cater to over 2 million clients. The company's core business revolves around asset and wealth management, contributing to about 80% of its revenue. As of the end of 2023, Ameriprise managed assets worth around $1.4 trillion, showcasing its significant presence in the financial sector.
With a client-centric approach, Ameriprise emphasizes understanding clients' diverse needs and helping them craft financial plans that align with their long-term goals. The firm has garnered several accolades, including being listed as one of the best places to work for six consecutive years and supporting over 6,000 nonprofits.
Ameriprise has strategically evolved its business model by reducing its insurance segment exposure, including the sale of its auto and home insurance business in 2019 and exiting proprietary fixed annuities in 2020. This strategic shift allows the company to focus on its robust wealth and asset management capabilities.
Recent achievements include continuous growth in assets under management, impressive financial performance, and expanding partnerships. For instance, Ameriprise recently announced a new partnership with Kinecta Federal Credit Union, enhancing the reach of its financial services.
The firm’s diverse offerings include investment advice, insurance products, and comprehensive financial planning tools. Ameriprise continually attracts experienced and productive financial advisors, evident from the addition of over 400 advisors in 2023 alone. The firm’s dedication to providing top-tier technology and support systems ensures that advisors can focus on delivering exceptional client service.
Moreover, Ameriprise actively promotes diversity and inclusion through initiatives like the annual Women Advisor Summits, celebrating and supporting the growth of female financial advisors.
The company's robust financial performance is reflected in its strong earnings and steady capital returns to shareholders. In Q1 2024, Ameriprise increased its quarterly cash dividend by 10%, underscoring its commitment to delivering value to shareholders.
Ameriprise Financial is dedicated to helping clients achieve financial confidence and success through comprehensive and personalized financial services. For more information, visit ameriprise.com.
Tri-Continental (NYSE: TY) has declared its fourth quarter distributions. Common stockholders will receive an ordinary income distribution of $0.2850 per share and a capital gain distribution of $1.9520 per share, consisting of $0.3669 in short-term and $1.5851 in long-term gains. Preferred stockholders will receive $0.6250 per share. The distributions will be paid on December 23, 2024, for Common Stock and January 2, 2025, for Preferred Stock. Stockholders can elect to receive the capital gain distribution in various stock/cash combinations. The has maintained dividend payments on common stock for 80 consecutive years.
AM Best has affirmed the A+ (Superior) Financial Strength Rating and aa- (Superior) Long-Term Issuer Credit Ratings for RiverSource Life Insurance Company and its subsidiary. The ratings reflect Ameriprise Financial Group's very strong balance sheet strength, strong operating performance, and favorable business profile. The company shows positive operating metrics including continued net income growth, premium growth, and a 45% return on equity. AM Best also affirmed ratings for Ameriprise Captive Insurance Company and various Ameriprise Financial debt instruments, all with stable outlooks.
Ameriprise Financial is partnering with Feeding America for the 15th consecutive year to provide meals during the holiday season. On Nov. 14, over 3,100 employees, advisors, and clients will volunteer at food banks nationwide as part of the firm's National Day of Service. Volunteers have contributed 400,000 hours to hunger relief since the program's inception. Additionally, Ameriprise is donating nearly $b>$2.8 million in grants to 121 nonprofits across the country, focusing on basic needs, community support, and volunteer impact amplification. The company has donated a total of $4.7 million and supported over 200 nonprofits through its two grant cycles in 2024.
Q5 Wealth Management, a team managing $1.5 billion in client assets, has expanded with the addition of financial advisor Scott Guptill, who manages $100 million in client assets. The team joined Ameriprise Financial's independent channel in August 2024 from UBS Financial Services. Guptill, previously with Morgan Stanley, joined Q5 to enhance his high-net-worth clients' experiences and leverage Ameriprise's digital capabilities. This expansion comes as part of Q5's growth strategy, with the team citing Ameriprise's sophisticated resources as a key factor in their decision. Ameriprise has attracted over 400 advisors in 2023 and approximately 1,700 in the last 5 years.
Ameriprise Financial (NYSE: AMP) has been named a 2025 Military Friendly® Employer by VIQTORY for the eleventh consecutive year. The recognition highlights Ameriprise's commitment to creating an inclusive workplace for military community members. The evaluation was based on public data and employer survey responses, considering factors like veteran recruitment, retention, turnover, and advancement.
The company demonstrates its support for veterans through initiatives like the Certified Military Financial Advisor™(CMFA) certification, launched in partnership with Dalton Education in 2022. Ameriprise also supports the U.S. Army Reserve Private Public Partnership to help veterans transition to civilian employment.
Ameriprise Financial (NYSE: AMP) has secured five Brandon Hall Group awards for excellence in learning and development, including four gold awards and one bronze award in Human Capital Management Excellence. The gold awards were received for Best Use of Blended Learning, Best Use of Performance Support, Best New Hire Onboarding Program, and Best Results of a Learning Program, while the bronze award was for Best Learning in the Flow of Work.
The company's learning and development program offers comprehensive training in client service, technology, practice management, and leadership development. The awards recognize Ameriprise's commitment to providing innovative and effective training programs for advisors and their teams, focusing on delivering exceptional client experiences and professional growth opportunities.
Financial advisors Kelly France and Dan Lotts have joined River Prairie Wealth Partners, an Ameriprise Financial practice, bringing over $250 million in client assets from LPL Financial. The team joins the Altoona, Wisconsin-based practice led by Private Wealth Advisor Adam Mohr, which manages over $3 billion in client assets across eight office locations in Minnesota and Wisconsin. The practice employs 29 advisors and 34 support staff. France and Lotts, who have more than 30 years of combined industry experience, cited Ameriprise's comprehensive client support, technology, and financial planning tools as key factors in their decision. Ameriprise has attracted over 400 advisors in 2023 and approximately 1,700 in the past 5 years.
Ameriprise Financial (NYSE: AMP) has announced its regular quarterly cash dividend of $1.48 per common share. The dividend will be paid on November 15, 2024 to shareholders of record as of November 4, 2024. The company, which has been operating for 130 years, provides investment advice, global asset management, and insurance solutions through its network of more than 10,000 financial advisors.
Ameriprise Financial (NYSE: AMP) reported strong Q3 2024 results with adjusted operating earnings per diluted share increasing 17% to $9.02, excluding unlocking and severance expenses. Assets under management and administration reached $1.5 trillion, up 22% from client net inflows and market appreciation. The company demonstrated solid financial performance with an adjusted operating net revenue increase of 11% and a pretax adjusted operating margin of 27%. Capital return to shareholders totaled $713 million in the quarter. Client assets in the Advice & Wealth Management segment grew 26% to $1.0 trillion, with wrap assets up 28% to $569 billion.
Columbia Threadneedle Investments celebrates the five-year anniversary of its Columbia Research Enhanced Core ETF (NYSE Arca: RECS), which has amassed over $1 billion in client assets. RECS has consistently outperformed its benchmark, the Russell 1000 Index®, through a unique rules-based approach that applies proprietary investment research.
The ETF's strategy addresses a key concern of financial advisors by eliminating unfavorably rated stocks from the benchmark. RECS has earned a 5-star Overall Morningstar Rating and ranks in the top 10% of Morningstar's U.S. Large Blend category for the five-year period ending September 30, 2024. With a total expense ratio of 0.15%, RECS offers a cost-effective and tax-efficient solution for core equity exposure.
Managed by Christopher Lo, Jason Wang, and Henry Hom, RECS uses Columbia Threadneedle's proprietary quantitative models to evaluate companies based on quality, value, and catalyst factors. As of September 30, 2024, the ETF contained 357 US large-cap stocks across growth and value sectors.
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