Welcome to our dedicated page for Ameriprise Finl news (Ticker: AMP), a resource for investors and traders seeking the latest updates and insights on Ameriprise Finl stock.
Ameriprise Financial, Inc. provides financial advice, wealth management, global asset management and insurance solutions through a large U.S. advisor network and the Columbia Threadneedle Investments franchise. Company news commonly covers quarterly results, dividend actions, advisor practice affiliations, succession and practice-acquisition support, and updates tied to its advice and wealth management platform.
Recurring Ameriprise developments also include financial-planning research, investor satisfaction studies, industry rankings for advisors and fund families, and commentary on client engagement, asset growth and capital returns.
Ameriprise Financial (NYSE: AMP) announced the addition of John Carter Piper, CFP, to its independent practice, Foundation Wealth Management, in Bakersfield, California. Piper, with 25 years of experience and over $210 million in client assets, chose Ameriprise for its client-centric reputation and advanced technology. This move aligns with the firm's trend of attracting seasoned financial advisors, with 1,600 joining over the past five years, citing superior technology and client acquisition capabilities.
Tri-Continental Corporation (NYSE: TY) announced a fourth quarter distribution of $0.2651 per share for Common Stock and $0.6250 for Preferred Stock. Additionally, a long-term capital gain distribution of $0.6213 per Common Stock share will occur. Payments will be made on December 20, 2022 for Common Stockholders and on January 3, 2023 for Preferred Stockholders. The company has a 78-year history of paying dividends, which are derived from its earnings with no return of capital.
Ameriprise Financial (NYSE:AMP) has partnered with Dalton Education to launch the Certified Military Financial Advisor™ (CMFA) certification, designed specifically for financial advisors serving military clients. The certification entails 40-50 hours of training focusing on the unique needs and resources available to veterans and active military members. Initially exclusive to Ameriprise advisors until June 2024, this initiative underscores the company's ongoing commitment to support the military community. Ameriprise has been recognized as a Military Friendly® Employer, reflecting its dedication to veteran services.
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 $1.25 per common share, payable on November 18, 2022. Shareholders on record by the close of business on November 7, 2022 are eligible for this payment. With over 125 years of experience, Ameriprise Financial offers extensive financial services through a nationwide network of 10,000 advisors, ensuring a strong foundation for individual and institutional investors.
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 $900 million in assets, Mazuma serves over 71,000 members in Missouri and Kansas. The partnership will allow members to access personalized financial advice, robust investment products, and digital capabilities through experienced financial advisors. This collaboration aims to enhance wealth management services, ensuring clients receive expert support tailored to their needs.