Langley Federal Credit Union Selects Ameriprise Financial to Manage its Investment Program

Rhea-AI Summary

Ameriprise Financial (NYSE: AMP) has announced a new partnership with Langley Federal Credit Union, a Newport News, Va.-based credit union with over $5.4 billion in assets. The credit union's investment program, Langley Wealth Management, has transitioned to the Ameriprise Financial Institution Group (AFIG).

The program includes five financial advisors managing approximately $450 million in assets across Virginia and North Carolina. Through this partnership, Langley clients will gain access to Ameriprise's comprehensive financial planning capabilities, investment products, and digital services including face-to-face, online, video, and phone meeting options.

Positive

• Strategic expansion of AMP's institutional business through partnership with $5.4B credit union
• Addition of $450M in managed assets to AMP's platform
• Expansion of geographic presence in Virginia and North Carolina markets

Negative

• None.

Insights

Financial Services Analyst

Ameriprise Financial's new partnership with Langley Federal Credit Union represents a strategic expansion of their Financial Institution Group. The deal brings approximately $450 million in assets under management to Ameriprise through Langley's five financial advisors serving clients across Virginia and North Carolina.

This partnership carries several positive implications for Ameriprise's growth strategy. First, it extends Ameriprise's distribution reach into Langley's established client base, providing access to credit union members who might not otherwise engage with traditional wealth management firms. Second, it creates a new revenue stream through asset management fees, though the $450 million in assets represents just a small fraction of Ameriprise's overall business.

The credit union's selection of Ameriprise validates the company's competitive positioning in the financial institutions channel. Langley specifically cited Ameriprise's "proven expertise" and "extensive resources" as key decision factors, suggesting Ameriprise's comprehensive financial planning approach resonates with institutional partners seeking to enhance their wealth management capabilities.

While this partnership alone won't significantly move the needle for a company with Ameriprise's $39.1 billion market capitalization, it demonstrates continued execution of their strategy to grow through financial institution partnerships. These types of arrangements typically generate stable, recurring fee revenue while requiring minimal capital investment, making them attractive growth vehicles in the wealth management space.

Partnership gives Langley Wealth Management clients’ access to impressive suite of solutions and services offered by Ameriprise Financial

MINNEAPOLIS--(BUSINESS WIRE)-- Ameriprise Financial (NYSE: AMP) today announced Langley Federal Credit Union, a federally chartered credit union based in Newport News, Va., with more than $5.4 billion in assets, has transitioned its investment program to the Ameriprise Financial Institution Group (AFIG). The credit union’s investment program operates under the name Langley Wealth Management and includes five financial advisors, Najib Khan, Bonnie Blaylock, CFP^®, Amber Marois, Corey Watson and Frank Nickey, who help clients manage approximately $450 million in assets across Virginia and North Carolina.

“We chose to partner with Ameriprise Financial because of their proven expertise in helping individuals and families achieve greater financial confidence,” said Tom Ryan, President & CEO at Langley Federal Credit Union. “Our clients are seeking holistic financial planning solutions, and Ameriprise’s extensive resources will help us better serve them at every stage of their financial journey.”

Through Ameriprise Financial, Langley clients will have access to a full range of leading services and solutions including:

• Personalized advice and financial planning capabilities tailored to their individual needs.
• Robust investment products to help them achieve their financial goals with more confidence.
• Digital capabilities that allow clients to connect with their advisors where and how they want—face-to-face, online, video or phone meetings.

“We’re thrilled Langley Federal Credit Union selected Ameriprise to strengthen their ability to offer comprehensive financial planning and investment solutions tailored to their clients’ needs,” said Jay McAnelly, Group Vice President, Ameriprise Financial Institutions Group. “Clients across Virginia and North Carolina put their trust in Langley, and we’re honored to bring the outstanding wealth management capabilities of Ameriprise Financial to them.”

About Langley Federal Credit Union
Langley Federal Credit Union is a federally chartered credit union, regulated and insured by the National Credit Union Administration. Langley serves more than 395,000 members and has over $5.4 billion in assets, ranking the financial cooperative as one of the 100 largest credit unions in the country. Langley is a full-service financial institution where everyone can save, borrow, and spend wisely. Located in Hampton Roads, Richmond VA, and Raleigh NC, Langley has over 680 employees, 20 branches with access to more than 55,000 surcharge-free ATMs throughout the region. For more information, visit www.langleyfcu.org.

About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel confident about their financial future for more than 130 years. With extensive investment advice, asset management and insurance capabilities and a nationwide network of approximately 10,000 financial advisors¹, we have the strength and expertise to serve the full range of individual and institutional investors' financial needs.

About Ameriprise Financial Institutions Group (AFIG)
With more than 30 years² serving the investment program needs of banks and credit unions, Ameriprise Financial Institutions Group brings a depth of understanding, experience, and knowledge to the financial institutions space – helping deliver value for clients/members while driving revenue for the financial institutions. To find out why financial institutions are partnering with Ameriprise Financial, visit ameriprise.com/afig.

Ameriprise Financial Services has a partnership with this financial institution to provide financial planning services and solutions to clients. The financial institution is not an investment client of Ameriprise but has a revenue sharing relationship with us that creates a conflict of interest.

¹ Ameriprise Financial Q4 2024 Earnings Release.
² Investment Professionals, Inc (IPI) was founded in 1992 and specialized in the on-site delivery of investment programs for financial institutions. Ameriprise Financial, Inc. acquired IPI in 2017, bringing together the years of experience of the two organizations.

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.

Ameriprise Financial Services partners with financial institutions to provide investment advisory, brokerage and insurance services to their clients. This is a contractual relationship, which earns the financial institution compensation from Ameriprise for successful referrals. In most cases, the financial institution also receives a majority of the commissions and fees generated by Ameriprise financial advisors for the services noted above. This applies as long as the referred client maintains a relationship with Ameriprise. Non-licensed employees of the financial institutions may receive incentives from their employer for referring clients to Ameriprise. These incentives create a conflict of interest.

Ameriprise Financial cannot guarantee future financial results.

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP^® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP^® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Langley Wealth Management is a financial advisory practice of Ameriprise Financial Services, LLC.

Ameriprise Financial and Langley Federal Credit Union are not affiliated.

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.

© 2025 Ameriprise Financial, Inc. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250408852097/en/

Ali Harries, Media Relations

612-678-7035

allison.h.harries@ampf.com

Source: Ameriprise Financial

FAQ

How much in assets does Langley Wealth Management manage through AMP's platform?

Langley Wealth Management manages approximately $450 million in assets across Virginia and North Carolina through Ameriprise Financial's platform.

What services will Langley clients gain access to through the AMP partnership?

Clients will access personalized financial planning, robust investment products, and digital capabilities including face-to-face, online, video, and phone meetings.

How many financial advisors are part of the Langley-AMP transition?

Five financial advisors have transitioned to Ameriprise Financial: Najib Khan, Bonnie Blaylock, CFP®, Amber Marois, Corey Watson, and Frank Nickey.

What is the total asset size of Langley Federal Credit Union partnering with AMP?

Langley Federal Credit Union has more than $5.4 billion in assets under management.