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.
Q5 Wealth Management, a team of five financial advisors managing $1.5 billion in client assets, has joined the independent channel of Ameriprise Financial, Inc. (NYSE: AMP) from UBS Financial Services, Inc. The team, based in Beaumont and Houston, Texas, chose Ameriprise for its robust resources and innovative digital capabilities to enhance their high-net-worth clients' experience and scale their practice.
The advisors, Omar Bitar, Jeremy Saba, Mike Persia, Ed Persia, and Brad Klein, specialize in advising on complex financial situations for individuals planning for retirement, families, and business owners. They were attracted by Ameriprise's sophisticated wealth management platform and the balance of support and flexibility offered by the independent channel.
Ameriprise has been successful in attracting experienced advisors, with over 400 joining in 2023 and approximately 1,700 in the last 5 years.
Ameriprise Financial (NYSE: AMP) announced that eight of its advisors were named to Barron’s “Top 100 Women Financial Advisors” list for 2024. This recognition is based on professionalism and business success. Honorees include:
- Nancy Daoud (CEO, Opus: Advice First, CT)
- Susan Kim (Managing Partner, Kim, Hopkins & Associates, VA)
- Jennifer Marcontell (Managing Member, Marcontell Wealth Management, TX)
- Charla McIntyre Fields (Fields Wealth Management, TX)
- Kim Orth (Orth Financial Group, DE)
- Geri Pell (CEO, Pell Wealth Partners, NY)
- Gail Reid (President, Castlewatch Wealth, CA)
- Michelle Young (President, Confetti Wealth, MN)
Bill Williams, EVP of Ameriprise, commended the advisors for their professionalism and dedication. Ameriprise supports women advisors through initiatives like the Women’s Interest Network, Women’s Global Leadership Academy, and Career Compass events.
Financial advisor Michael Walstien has joined Ameriprise Financial (NYSE: AMP) from UBS Financial Services, managing $150 million in assets. Walstien highlighted several reasons for his move, including enhanced client service support, Ameriprise's expertise in financial planning, cutting-edge technology, and a supportive, empowering culture. Walstien's transition has been smooth, gaining positive feedback from his clients. Ameriprise has successfully attracted over 400 advisors in 2023 and about 1,700 in the past five years.
Ameriprise Financial Services has filed a lawsuit against LPL Financial in United States District Court, alleging that LPL is engaged in a widespread pattern of mishandling and misappropriating confidential client information and trade secrets during advisor transitions. The lawsuit claims that LPL systematically directs recruited advisors to take confidential information from Ameriprise and competitors, violating securities laws, regulations, and industry standards.
Ameriprise contends that LPL's actions violate client privacy rights and expose recruited advisors to regulatory and criminal risks. Michael Taaffe, outside counsel for Ameriprise, stated that LPL has flagrantly disregarded industry protocols for years and obtained sensitive data they are not entitled to. The lawsuit seeks to hold LPL accountable for their alleged misconduct in handling personal information of investors.
Ameriprise Financial, Inc. (NYSE: AMP) has announced a quarterly cash dividend of $1.48 per common share. The dividend will be payable on August 16, 2024 to shareholders of record at the close of business on August 5, 2024. This declaration demonstrates Ameriprise's commitment to returning value to shareholders.
Ameriprise Financial, with a 130-year history, offers extensive investment advice, global asset management capabilities, and insurance solutions. The company boasts a nationwide network of over 10,000 financial advisors, positioning itself to serve a wide range of individual and institutional investors' financial needs.
Ameriprise Financial (NYSE:AMP) reported strong Q2 2024 results, with adjusted operating earnings per diluted share of $8.53, up 17% to $8.72 excluding severance expenses. The company's assets under management and administration reached $1.4 trillion, a 12% increase driven by client net inflows and market appreciation. Adjusted operating net revenues grew 9% due to organic growth, strong equity markets, and higher spread revenues. Ameriprise demonstrated its financial strength by returning $693 million to shareholders through share repurchases and dividends. The company's pretax adjusted operating margin was 26.8%, with an adjusted operating return on equity of 48.9%. Ameriprise's Advice & Wealth Management segment saw pretax adjusted operating earnings reach a new high of $822 million, while the Asset Management segment's pretax adjusted operating earnings increased 35% to $218 million.
Ameriprise Financial (NYSE: AMP) has announced nearly $2 million in grant funding to nonprofits across the U.S. as part of its first-round 2024 grants. The company aims to strengthen communities and help individuals meet basic needs and achieve financial independence. In celebration of its 130th anniversary, Ameriprise donated an additional $130,000 to hunger relief organizations, providing over one million meals to people in need.
Key grant recipients include Second Harvest Food Bank of Metrolina, Lake Street Council, Rosie's Place, and American Corporate Partners. These organizations focus on food distribution, community development, women's shelter services, and veteran support, respectively. Ameriprise's commitment to community support is further exemplified by its 15-year partnership with Feeding America, having donated more than 125 million meals to date.
Monumental Financial Planning, led by Private Wealth Advisor John Cortale, has joined Ameriprise Financial, Inc. (NYSE: AMP) from LPL Financial, bringing $250 million in client assets. The team, which includes advisors John Martin Moran and Nina Kamrani, chose Ameriprise for its enhanced financial planning capabilities, greater firm support, and fully-integrated technology.
Cortale expressed excitement about leveraging Ameriprise's resources to better serve clients and help them achieve their financial goals. The move aligns with Ameriprise's continued success in attracting experienced advisors, with over 400 advisors joining in 2023 and approximately 1,700 in the last 5 years.
Ameriprise Financial (NYSE: AMP) will announce its second quarter 2024 financial results on Wednesday, July 24, 2024, after the New York Stock Exchange closes. The company will hold a conference call to discuss the results on Thursday, July 25, 2024, at 9:00 a.m. ET. Investors can access a live audio webcast, presentation slides, and an audio replay through the Ameriprise Financial Investor Relations website. With over 130 years of experience, Ameriprise Financial offers investment advice, global asset management, and insurance solutions, serving individual and institutional investors via a network of over 10,000 financial advisors.
Star Mountain Capital, an investment firm with over $4.0 billion in assets under management, has appointed Scott Couto as Senior Advisor. Couto brings over 30 years of experience in asset management, including roles at Columbia Threadneedle Investments and Fidelity Investments. At Columbia Threadneedle, he oversaw $650 billion in assets as Head of North America, and at Fidelity, he managed $580 billion in client assets. Star Mountain focuses on private loans, equity investments, and secondary LP interests in U.S. lower middle-market businesses. Couto’s expertise in strategic leadership, risk management, and client relations aligns with Star Mountain's goal of generating low-market-correlated returns.
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