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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, Inc. (NYSE: AMP) announced that Northwest Financial Solutions, an experienced team of financial advisors managing approximately $371 million in client assets, has joined the company in Vancouver, Washington. The team, including advisors Jason Lambert, Dustin Martin, David Topper, and Katie Jo Swasey, emphasized their focus on client service, intuitive client tools, marketing resources, and innovative financial planning technology as key factors in their decision. This addition is part of a broader trend, with more than 4,300 financial advisors joining Ameriprise since 2008.
Financial advisors Matt Griffin and Jason Driver have joined Ameriprise Financial Institutions Group, bringing in $149 million in client assets. Their advisory team, Steward Concepts, will collaborate with Family Trust Credit Union in Rock Hill, SC. Griffin praised Ameriprise's integrated technology, which enhances client interaction through video chats and mobile transactions. The CFO of Family Trust highlighted Ameriprise's transparency and efficiency. The firm aims to elevate financial services nationwide, supported by its Financial Institutions Group established post-acquisition of Investment Professionals, Inc.
The Board of Directors of Ameriprise Financial has declared a quarterly cash dividend of $1.04 per common share. This dividend is payable on November 20, 2020, to shareholders on record as of November 9, 2020. With a rich history of over 125 years, Ameriprise Financial offers extensive advisory, asset management, and insurance services through a network of approximately 10,000 financial advisors.
Ameriprise Financial reported third-quarter 2020 results with adjusted operating earnings per diluted share at $4.27, a 1% decrease from the previous year, primarily affected by low short-term interest rates. GAAP net income per diluted share fell to ($1.14) due to market volatility, while adjusted operating net revenue reached $3.0 billion, down 1%. The company saw strong gross flows of $5.2 billion and a record recruitment of 99 advisors. Ameriprise continues to prioritize shareholder returns, repurchasing 2.1 million shares and announcing a $2.5 billion buyback authorization.
Ameriprise Financial welcomes financial advisors Jon Bloomer and Ross Fedenia, along with client service associate Stephanie Noskowiak, from UBS, managing $328 million in assets. They were attracted to Ameriprise for its client-first approach, strong reputation, and advanced technology that enhances service delivery. The team, now named the Bloomer Fedenia Group, operates from a newly opened office in Middleton, Wisconsin. This addition is part of a broader trend, with over 4,300 advisors joining Ameriprise since 2008.
ClearPoint Capital, managing $224 million in assets, has transitioned to Ameriprise Financial (NYSE: AMP) from LPL Financial. Led by veteran advisor Michael Tuell, the team includes his children, Jillian and John Tuell. This move was prompted by pandemic-related disruptions, with Ameriprise offering enhanced client support and resources. Michael highlighted Ameriprise's robust financial planning capabilities and digital experiences for clients. The family is also excited about career development opportunities for Jillian and John as they aim to become licensed advisors in the future.
Ameriprise Financial announced that 42 of its financial advisors were recognized in Working Mother Magazine’s 2020 list of the “Top Wealth Advisor Moms” in the U.S. This list honors women financial advisors with children under 21 who demonstrate professionalism and success. Rankings are based on assets under management, revenue, industry experience, client retention, and compliance records. Ameriprise aims to support women in finance and hosts initiatives like the Women’s Advisor Summits.
AM Best has affirmed the Financial Strength Rating of A+ and Long-Term Issuer Credit Ratings of 'aa-' for RiverSource Life Insurance Company and its subsidiary, highlighting their very strong balance sheet and solid operating performance. Concurrently, ACIC's ratings were affirmed at A, with a stable outlook. Despite strong fee-based business benefits, Ameriprise anticipates headwinds this year due to interest rate and market conditions. The ratings reflect robust enterprise risk management practices, crucial for navigating potential earnings erosion.
Ameriprise Financial (NYSE: AMP) announced the addition of two advisors, Mario Lopez and Gerald Di Chiara, managing a combined $275 million in client assets, to its employee channel. Lopez, joining from Edward Jones in Dallas, has 20 years of experience and manages $175 million. Di Chiara, moving from Merrill Lynch in New York, brings 13 years of experience and manages $100 million. Both advisors cited Ameriprise's technological support and commitment to financial planning as key factors in their decision, highlighting the firm’s adaptability during the pandemic.
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