How UDB Financial Grew by More Than 30% Since Joining Ameriprise in 2019 to Manage $833 Million in Client Assets

Rhea-AI Summary

UDB Financial, a wealth management practice based in Alexandria, Louisiana, marked its second anniversary with Ameriprise Financial (NYSE: AMP) after leaving LPL Financial in 2019. The team, led by advisors Michael Upton, Jeff Draughon, and Joey Bollinger, has grown client assets from $633 million to $833 million. Clients rated UDB Financial 4.9 out of 5 on satisfaction based on 76 reviews. The advisors credit their growth to Ameriprise's goal-based financial planning, integrated technology, and support during the pandemic, resulting in improved efficiency and client service.

Positive

• Client assets increased from $633 million to $833 million.
• Achieved a client satisfaction rating of 4.9 out of 5 based on 76 reviews.
• Benefited from Ameriprise's goal-based financial planning model.
• Enhanced operational efficiency due to integrated technology.
• Successfully served clients without disruption during the pandemic.

Negative

• None.

UDB Financial, a wealth management practice located in Alexandria, Louisiana, recently celebrated two years with Ameriprise Financial, Inc. (NYSE: AMP) after leaving LPL Financial in 2019. Financial advisors Michael Upton, AAMS^®, Jeff Draughon, AAMS^®, and Joey Bollinger, MBA, AAMS^® lead the team and believe the switch to Ameriprise’s branch channel helped them capitalize on market performance and accelerated growth for their practice, while delivering an outstanding and efficient client experience through goal-based financial planning. Today, the team manages $833 million in client assets, a significant increase from the $633 million they managed when they left their previous firm. Notably, in a recent satisfaction survey, clients rated UDB Financial 4.9 out of 5 in overall satisfaction based on 76 reviews.¹

UDB Financial, a wealth advisory practice of Ameriprise Financial based in Alexandria, Louisiana. Photo courtesy of UDB Financial.

UDB Financial conducted due diligence on many firms before deciding to join Ameriprise. Reflecting on the anniversary of their move, the advisors highlighted four qualities of Ameriprise that contributed to their strong growth:

1. Goal-based advice. “I credit our growth in assets, clients, and production to Ameriprise’s approach to goal-based planning. The firm is committed to having a financial plan for every client that documents their goals and the advice we’re giving to help achieve them,” said Draughon. “And clients’ response to our move to Ameriprise has been overwhelmingly positive. Last year I had a client in tears after seeing her financial plan online, which showed her progress and high probability of success. She was so relieved to know she was going to be okay.”
   
2. Integrated technology and streamlined processes. “We moved from independence to a branch model because we were weary from running the business,” said Upton. “Ameriprise’s integrated technology and streamlined processes has made us more efficient and given us more capacity to go deeper with clients.”
   
3. Support amid the pandemic.“When the pandemic started, Ameriprise already had digital tools – including a mobile app, e-Signature, virtual meeting capabilities, client site with goals online – and business processes in place, so we were able to continue serving clients without disruption from home,” said Bollinger. “And, our region leaders and support teams in the corporate office are available when we need them. They don’t try to change who we are, but rather give us best practices that work to grow our business.”
   
4. Culture of integrity. “Every firm makes promises when recruiting advisors. We had healthy skepticism when talking to other firms, as we wondered if each one would deliver years into the future after winning our business. The Ameriprise team has kept their promises, and we couldn't be happier to be here,” said Draughon.

“UDB Financial’s decision to move to Ameriprise has helped propel their significant growth, and we’re excited about the future,” said Tom Linn, who supports the team as their Ameriprise branch manager. “They’re taking advantage of the support and capabilities we offer as a firm to drive satisfaction and referrals – and they’re in a great position to continue expanding and serving more clients who will benefit from their advice and expertise.”

Ameriprise offers a proven strategy – the Ultimate Advisor Partnership – to help advisors grow their practices at rates that outpace key competitors while providing an outstanding client experience. Combined with the company’s culture of support and independence, the strategy enables advisors to scale their businesses, deepen client relationships, and drive referrals for future growth.

UDB Financial, which has stayed consistent since the transition to Ameriprise, includes advisors Sam Marino, Brian Flynn, Stan Bollinger, Crissy Shirley, John Lenahan, CFP^®, and Lori Decker, as well as client service associates Heather Parker, Monica Meche, Martha Bankston, Ann Murray, and Kimberly Braddy.

Ameriprise has continued to attract experienced, productive advisors, with approximately 1,700 joining the firm in the last 5 years.² To find out why experienced financial advisors are joining Ameriprise, visit ameriprise.com/why.

For more information about UDB Financial, visit: https://www.ameripriseadvisors.com/team/udb-financial/

¹ – Clients can respond to an internal Ameriprise survey and rate an advisor or practice based on their satisfaction with the team or practice, on a scale of 1 to 5 (1 = extremely dissatisfied to 5 = extremely satisfied). Client experiences may vary and working with any Ameriprise Financial practice is not a guarantee of future financial results. Investors should not consider this rating a substitute for their own research and evaluation of a financial practice's qualifications. Only clients with access to the Ameriprise Secure Client Site may submit a rating. Ratings reflect an average of all client responses received over a rolling two-year period as of 12/31/2020.

² – Ameriprise Financial 2020 10-K.

About Ameriprise Financial

At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 125 years. With extensive advisory, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs. For more information, or to find an Ameriprise financial advisor, visit ameriprise.com.

Ameriprise Financial Services, LLC is an Equal Opportunity Employer.

Ameriprise Financial Services, LLC. Member FINRA and SIPC.

© 2021 Ameriprise Financial, Inc. All rights reserved.

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FAQ

What is the significance of UDB Financial's two-year anniversary with Ameriprise Financial?

UDB Financial celebrated two years with Ameriprise after transitioning from LPL Financial, marking significant growth in client assets.

How much client assets does UDB Financial manage now?

UDB Financial currently manages $833 million in client assets, an increase from $633 million at the time they switched to Ameriprise.

What was the client satisfaction rating for UDB Financial?

UDB Financial received an impressive client satisfaction rating of 4.9 out of 5 based on 76 reviews.

What factors contributed to UDB Financial's growth after joining Ameriprise?

The growth was attributed to Ameriprise's goal-based planning, integrated technology, and effective support during the pandemic.

Who are the key advisors at UDB Financial?

Key advisors at UDB Financial include Michael Upton, Jeff Draughon, and Joey Bollinger.