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 announced the addition of two financial advisors, Marc Gendell and Chris Thompson, who together manage nearly $450 million in client assets. Gendell, from UBS, cited Ameriprise's strong social media marketing as a key factor in his decision, while Thompson, formerly of Wells Fargo, appreciated the firm's dedicated financial planning technology. Over the last five years, about 1,700 advisors have joined Ameriprise, emphasizing its growing appeal in the financial advisory industry.
Ameriprise Financial (NYSE: AMP) has partnered with North Island Credit Union to enhance its investment solutions, managing $750 million in brokerage assets. The credit union, serving over 165,000 members in Southern California, has rebranded its investment group to North Island Credit Union Wealth Management. This partnership allows members to access personalized financial advice and a broad range of investment products through improved digital capabilities. Ameriprise aims to support the credit union's growth and member financial goals.
Amp's partnership with California Credit Union enhances its investment offerings. California Credit Union serves over 165,000 members and has transitioned its investment program to Ameriprise Financial Institutions Group, managing $750 million in assets. The credit union has rebranded its investment group as California Credit Union Wealth Management, providing personalized advice and improved digital services. This collaboration is expected to enhance member experience and financial planning capabilities.
Financial advisor Kim Latimer, CFP® has transitioned to Ameriprise Financial (NYSE: AMP) from Merrill Lynch, bringing $211 million in client assets. Latimer was drawn to Ameriprise for its supportive culture towards women and its extensive resources for clients. She conducted thorough due diligence, finding Ameriprise the best fit after evaluating nine firms. Latimer's focus is on high-net-worth clients, confident in Ameriprise's client-first approach and investment capabilities. Ameriprise continues to attract quality advisors, with around 1,700 joining in the last five years.
The Board of Directors of Ameriprise Financial has declared a quarterly cash dividend of $1.13 per common share. This dividend is payable on August 20, 2021, to shareholders of record as of August 9, 2021. With over 125 years of experience, Ameriprise Financial continues to empower investors through its extensive network of 10,000 financial advisors and robust asset management and insurance services.
Ameriprise Financial reported a strong second quarter with adjusted operating earnings per diluted share at $5.27, a 39% increase year-over-year. The company achieved a 22% rise in adjusted operating net revenue to $3.4 billion, driven by robust client flows, resulting in assets under management reaching a record $1.2 trillion. However, GAAP net income per diluted share was $4.88, down 28% compared to the previous year. Strategic acquisitions were announced, including the purchase of BMO’s EMEA asset management business, aimed at enhancing growth.
Columbia Threadneedle Investments has announced the transition of leadership within its equity division, appointing Melda Mergen as the new Global Head of Equities effective October 1, 2021. Mergen, who has been the Deputy Global Head since 2017, will succeed William Davies, who will transition to Global Chief Investment Officer in January 2022. Mergen has been with the firm since 1999, demonstrating a strong track record in investment performance and leadership, overseeing a global team managing over $311 billion in assets across various regions.
Ameriprise Financial (NYSE: AMP) is set to announce its second quarter financial results on July 26, 2021, following the market close. A conference call for shareholders and stakeholders will occur on July 27, 2021, at 9:00 a.m. (ET) to discuss these results. Interested parties can access live audio and presentation slides on the company's investor relations website. With over 125 years in operation and a network of around 10,000 financial advisors, Ameriprise continues to cater to a wide range of investor needs.
Ryan Thompson, MBA, CFP®, a financial advisor managing $110 million in client assets, has joined Ameriprise Financial (NYSE: AMP) from Morgan Stanley in Shreveport, Louisiana. Thompson sought an independent platform to enhance his practice and found Ameriprise’s offerings aligned with his goals. He praised the transition support provided by Ameriprise, citing a smooth integration process that allowed him to focus on client service. Over the past five years, Ameriprise has attracted approximately 1,700 experienced advisors, indicating its growing appeal in the financial advisory space.
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