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.
Ameriprise Financial (NYSE: AMP) has welcomed advisors Laura Burback and Kari Brown to its Alliance Financial Partners team, which manages $405 million in client assets. Burback, with $212 million in client assets, and Brown, with $52 million, chose Ameriprise for its client-first culture and advanced technology. Their addition aims to enhance the firm's growth in Wyoming. Ameriprise has attracted around 1,600 advisors in the last five years, reflecting its strong technology and financial planning capabilities.
AM Best has affirmed the Financial Strength Rating (FSR) of A+ and Long-Term Issuer Credit Ratings of “aa-” for RiverSource Life Insurance and its subsidiary. These ratings reflect Ameriprise Financial's strong balance sheet, robust operating performance, and effective risk management. The outlook for these ratings is stable. However, challenges such as rising interest rates and potential difficulties in long-term care business are noted. The ratings for Ameriprise Captive Insurance are also affirmed with a stable outlook, highlighting its strong performance despite a limited business profile.
Ameriprise Financial has announced its collaboration with Feeding America for the 13th consecutive year, aiming to provide meals for families in need this holiday season. On November 3, over 3,800 employees volunteered to assist food banks and nonprofits across the country. The firm also donated more than $2.8 million in grants to 129 nonprofits, focusing on basic needs and community support. Ameriprise has contributed over $4.8 million in 2022, further emphasizing its commitment to community welfare.
The Board of Directors of Ameriprise Financial (NYSE: AMP) has declared a quarterly cash dividend of
Ameriprise Financial reported Q3 2022 earnings with a GAAP net income of $548 million, down 47% year-over-year, reflecting previous gains from fixed annuity transactions. Adjusted operating earnings per diluted share were $6.43, up 9%, driven by Wealth Management growth despite market depreciation. Total client net flows reached $11.2 billion, while assets under management fell to $1.1 trillion, down 9%. The company returned $632 million to shareholders and is on track to return 90% of adjusted operating earnings. Strong cash flow and bank growth were noted as key strengths for future profitability.
Ameriprise Financial (NYSE: AMP) has announced the addition of two financial advisors, Chad Villagomez and John DeMarco, who bring a combined $375 million in client assets. Villagomez, based in Wayzata, Minnesota, and DeMarco from Orland Park, Illinois, both transitioned from Wells Fargo. They chose Ameriprise for its flexibility and resources to enhance client service. Villagomez, along with his practice associate Greg Siers, manages $241 million, while DeMarco manages $134 million. This move highlights Ameriprise's continuing appeal to experienced advisors, with approximately 1,600 joining in the past five years.
Mazuma Credit Union has transitioned its wealth management program to Ameriprise Financial (NYSE: AMP) after a thorough search for a broker-dealer. With nearly
Ameriprise Financial (NYSE: AMP) will announce its third quarter financial results on October 25, 2022, following the close of the New York Stock Exchange. A conference call to discuss these results is scheduled for October 26, 2022, at 9:00 a.m. ET. Interested parties can access the live audio of the call and presentation slides on the Ameriprise Financial Investor Relations website. With over 125 years of experience, Ameriprise continues to provide comprehensive financial services to both individual and institutional investors.
Financial advisor Cate Grinney has joined the independent channel of Ameriprise Financial (NYSE: AMP) from Edward Jones, bringing $331 million in client assets. Her move was driven by Ameriprise’s support for women advisors, strong financial planning expertise, and resources for practice growth. Grinney aims to build a team to enhance client service and continuity. She was recently recognized on Forbes’s list of top women wealth advisors. Ameriprise continues to attract experienced advisors, with approximately 1,600 joining in the last five years.
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