Ameriprise Finl Inc Stock Price, News & Analysis

According to a recent survey by Columbia Threadneedle Investments, 80% of financial advisors are satisfied with their equity income allocations. Key factors driving this satisfaction include portfolio diversification (74%) and total return (70%). Additionally, 35% of advisors plan to increase allocations to equity income strategies. The majority prefer U.S. equities, particularly blue-chip stocks, but 23% will consider convertible securities. Advisors emphasize that equity income can provide a reliable income stream and capital appreciation, especially in today's low-yield environment.

Financial advisors Kathy Crowley, Corinne Crowley, and Seamus Keenan have transitioned to Ameriprise Financial Institutions Group from Raymond James, bringing with them $168 million in client assets. Operating under the name Centennial Financial Services, the team aims to enhance financial advice and investment services to 15 bank branches in the Florida Panhandle. The move is driven by Ameriprise's robust financial planning resources and client service focus, allowing the team to better support clients in achieving their financial goals.

Ameriprise Financial (NYSE: AMP) welcomed four new advisors with a total of $295 million in client assets. Ross Perkins, who moved from UBS, brings $135 million, while Thomas Rodman, Maureen Cioppi-Grill, and Paul Teufel joined from Morgan Stanley, contributing $160 million. They cited Ameriprise's robust support, technology, and commitment to clients as key factors in their decision. The recruitment underscores Ameriprise's appeal, with over 4,300 advisors joining since 2008.

Ameriprise Financial is enhancing its volunteer programs amid the pandemic, focusing on community support through virtual initiatives. The firm’s annual National Days of Service will see employees and advisors delivering groceries and hosting food drives, emphasizing safety. As part of its commitment, Ameriprise is matching donations to Feeding America, contributing up to $250,000 to support hunger relief. With a decade-long partnership, the firm has helped provide nearly 100 million meals. The need for assistance has grown significantly during the pandemic, making their efforts vital this holiday season.

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.