Ameriprise Finl Inc Stock Price, News & Analysis

Columbia Threadneedle Investments announced its sponsorship of the 12th annual Boston Triathlon, a significant community event promoting health and fitness. The triathlon will feature Olympic and sprint distances and is set to support Boston Medical Center as its official charity partner. With funds raised aiding BMC's mission of equitable healthcare, the event aims to foster community spirit after a challenging period. Columbia Threadneedle continues to demonstrate its commitment to Boston, managing $564 billion in assets globally under the Ameriprise Financial brand.

Ameriprise Financial (NYSE: AMP) has partnered with Randolph-Brooks Federal Credit Union (RBFCU) to enhance financial planning services for RBFCU's 950,000 members. RBFCU will transition its investment program to Ameriprise's platform by year-end, involving 14 financial advisors managing about $800 million in assets. The collaboration aims to deliver personalized financial advice, robust investment solutions, and integrated digital capabilities, addressing evolving client expectations and supporting RBFCU's growth. This agreement underscores Ameriprise's commitment to client-focused service and innovative technology.

Ameriprise Financial is launching several initiatives under its National Days of Service to help combat hunger in the U.S. Employees and advisors are encouraged to volunteer, host food drives, or perform acts of kindness, with up to eight hours of paid time off for volunteerism. The company has donated over $1.3 million in grants to 104 nonprofits, focusing on key areas like basic needs and community support. This comes as 42 million Americans face food insecurity, highlighting the urgent need for assistance in local communities.

Ameriprise Financial (NYSE: AMP) has applied to convert Ameriprise Bank, FSB into a state-chartered industrial bank, regulated by the Utah Department of Financial Institutions and the FDIC. Additionally, the personal trust services business will transition to a limited purpose national trust bank regulated by the OCC. These changes support the company's growth strategy and allow it to continue providing banking solutions such as deposits and mortgages to wealth management clients without interruption. The conversion aims to enhance the alignment of capital frameworks across its businesses.

Lionheart Wealth Management has transitioned to the independent channel of Ameriprise Financial (AMP) from AXA Advisors, managing nearly $200 million in assets. Led by Anthony DeAngelo, the team emphasized Ameriprise's digital capabilities and comprehensive product offerings as key factors in their decision. The integration of Ameriprise's technology aims to enhance client engagement and streamline operations, supporting Lionheart's growth strategy. The firm was founded in 2017, catering primarily to executives from major companies.

Crosstown Financial Advisors, managing $192 million in client assets, has transitioned to the independent channel of Ameriprise Financial (NYSE: AMP) from Waddell & Reed. The team includes experienced advisors who sought a values-driven partner with a focus on independence and succession planning. Christopher Forbes highlighted Ameriprise's robust technology platform, enhancing client engagement. Senior advisor Thomas Morrissy expressed confidence in the firm's integrity and support for client needs. Ameriprise has welcomed around 1,700 advisors in the past five years, emphasizing its growth strategy.