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.
Financial advisor Michael Cruz has joined Ameriprise Financial (NYSE: AMP) from Wells Fargo Clearing Services, , bringing over $100 million in assets from Temecula, California. Cruz, who has nearly 30 years of industry experience, chose Ameriprise to expand his practice and better serve his clients. He plans to use the firm's comprehensive suite of products and services, financial planning platform, and integrated technology to drive organic growth through client referrals and inorganic growth through practice acquisitions. Ameriprise has attracted over 400 financial advisors in 2023 and approximately 1,700 advisors in the past five years.
Private Wealth Advisor Kyle Rasmussen, CFP®, APMA™, and Financial Advisor Nick Blasberg have rejoined Ameriprise Financial from LPL Financial, bringing over $105 million in client assets. Operating under Generational Wealth Partners, their team includes financial planning specialist Hunter Bell, CFP®. Rasmussen emphasized Ameriprise's supportive environment, integrated technology, leadership support, and resources for external practice acquisitions as reasons for the move. Ameriprise has attracted over 400 advisors in 2023 and approximately 1,700 in the last five years.
Tri-Continental (NYSE: TY) declared a second quarter distribution of $0.2905 per share for Common Stock and $0.6250 per share for Preferred Stock. Additionally, a long-term capital gain distribution of $0.2878 per Common Stock share was announced. The Common Stock distribution will be paid on June 18, 2024, and the Preferred Stock distribution on July 1, 2024, to shareholders of record as of June 10, 2024. Shareholders have the option to receive the capital gain distribution in various combinations of cash and stock. The emphasized that current distributions are generated from earnings and profits, not a return of capital. The net asset value of the ’s shares may not align with market prices, and the investment carries stock market risks. The company is managed by Columbia Management Investment Advisers, a subsidiary of Ameriprise Financial.
Julie Wallace, a financial advisor with over $100 million in client assets, moved her practice to Ameriprise Financial, Inc. from Wells Fargo Clearing Services to provide clients with a more robust financial planning experience. Wallace values the client-first culture and operational excellence at Ameriprise, allowing her to focus on building deep client relationships and helping clients achieve their financial goals.
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