Ameriprise Finl Inc Stock Price, News & Analysis

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.

Columbia Threadneedle Investments has announced the upcoming retirement of Colin Moore, the global chief investment officer, effective January 2022. William Davies, currently the EMEA CIO and global head of equities, will take over the role as part of the firm's succession planning. Moore has significantly shaped the firm's investment strategies, contributing to strong long-term performance, with 103 funds rated four or five stars by Morningstar. CEO Ted Truscott praised Moore's impact and expressed confidence in Davies’ leadership capabilities for future growth.

Ameriprise Financial (NYSE: AMP) announced a significant agreement involving its insurance subsidiaries, RiverSource Life and RiverSource Life of New York, to reinsure about $8.0 billion of annuity policies with Global Atlantic Financial Group. This transaction is projected to generate approximately $700 million in excess capital. The deal is part of Ameriprise's strategy to enhance shareholder value and will allow RiverSource Life to maintain the servicing of the policies. The transaction is expected to close in July 2021, pending regulatory approval.