Financial Advisor with Over $100 Million and Nearly 30-Years of Industry Experience Joins Ameriprise Financial to Fulfill Growth Aspirations

Rhea-AI Summary

Financial advisor Michael Cruz has joined Ameriprise Financial (NYSE: AMP) from Wells Fargo Clearing Services, , bringing over $100 million in assets from Temecula, California. Cruz, who has nearly 30 years of industry experience, chose Ameriprise to expand his practice and better serve his clients. He plans to use the firm's comprehensive suite of products and services, financial planning platform, and integrated technology to drive organic growth through client referrals and inorganic growth through practice acquisitions. Ameriprise has attracted over 400 financial advisors in 2023 and approximately 1,700 advisors in the past five years.

Positive

• Michael Cruz joins Ameriprise Financial with over $100 million in assets.
• Cruz has nearly 30 years of industry experience.
• Ameriprise has attracted over 400 advisors in 2023 and 1,700 in the last five years.
• Ameriprise offers a comprehensive suite of products, services, financial planning platform, and integrated technology.

Negative

• None.

Michael Cruz says capabilities and support to acquire clients organically and inorganically drew him to Ameriprise

MINNEAPOLIS--(BUSINESS WIRE)-- Financial advisor Michael Cruz recently joined the branch channel of Ameriprise Financial, Inc. (NYSE: AMP) from Wells Fargo Clearing Services, LLC with $100 million in assets in Temecula, Calif.

“The number one reason I joined Ameriprise Financial was to expand my practice and better help existing clients reach their goals,” said Cruz, reflecting on his decision. “The firm is very much committed to investing in advisors to help them accelerate their growth.”

He looks forward to leveraging the firm’s capabilities to help advisors grow organically through client referrals and inorganically through external practice acquisitions.

“I’m at a point in my career where I want to expand and help even more clients. Ameriprise has a wide array of products and services, an extensive financial planning platform and an integrated suite of technology to elevate my client service model and help capture new opportunities and referrals,” said Cruz.

Cruz is supported locally by Ameriprise Complex Director David Spataro and Ameriprise Regional Vice President James Frisone.

“We’re thrilled to welcome Michael and his clients to Ameriprise,” said Spataro. “We look forward to partnering with him to achieve the goals he has for his practice and deliver a truly differentiated client experience with all Ameriprise has to offer.”

Ameriprise has continued to attract experienced, productive financial advisors, with more than 400 advisors moving their practices to Ameriprise in 2023 and approximately 1,700 joining the firm in the last 5 years.¹ To find out why experienced financial advisors are joining Ameriprise, visit ameriprise.com/why.

About the Ameriprise Ultimate Advisor Partnership

The Ameriprise Ultimate Advisor Partnership offers a differentiated experience for advisors that helps them accelerate growth while delivering an excellent client experience. Combined with the company’s culture of support and independence, the Ultimate Advisor Partnership enables advisors to scale their businesses, deepen client relationships and drive referrals for future growth.

About Ameriprise Financial

At Ameriprise Financial, we have been helping people feel more confident about their financial future for 130 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors², we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.

Ameriprise Financial cannot guarantee future financial results.

Ameriprise Financial Services, LLC is an Equal Opportunity Employer.

Investment products are not insured by the FDIC, NCUA or any federal agency, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.

Investment advisory products and services are made available through Ameriprise Financial Services, LLC, a registered investment adviser.

Securities offered by Ameriprise Financial Services, LLC. Member FINRA and SIPC.

¹ Ameriprise Financial 2023 10-K.
2 Ameriprise Financial Q1 2024 Earnings Release.

©2024 Ameriprise Financial, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240620717219/en/

Allison Harries, Media Relations

612.678.7035

allison.h.harries@ampf.com

Source: Ameriprise Financial

FAQ

Why did Michael Cruz join Ameriprise Financial?

Michael Cruz joined Ameriprise Financial to expand his practice and better help existing clients reach their goals.

What assets did Michael Cruz bring to Ameriprise Financial?

Michael Cruz brought over $100 million in assets to Ameriprise Financial.

How many financial advisors did Ameriprise attract in 2023?

Ameriprise attracted over 400 financial advisors in 2023.

What is the stock symbol for Ameriprise Financial?

The stock symbol for Ameriprise Financial is AMP.

What is the significance of Ameriprise Financial's integrated technology and financial planning platform?

Ameriprise Financial's integrated technology and financial planning platform help advisors grow their practice organically through client referrals and inorganically through practice acquisitions.