Ameriprise Finl Inc Stock Price, News & Analysis

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.

The Return to Normal Index by Columbia Threadneedle Investments increased to 72% as of May 1, 2021, up from 58% at the year's start. This index tracks various U.S. activities related to pre-pandemic levels, including travel and shopping. The surge in index value is attributed to wider vaccine eligibility, school reopenings, and lifted restrictions. The firm anticipates a potential rise to 90% of pre-pandemic levels by August 2021, with a potential upside to June if vaccination rates increase. Currently, activity remains 28% below pre-COVID levels.

UDB Financial, a wealth management practice based in Alexandria, Louisiana, marked its second anniversary with Ameriprise Financial (NYSE: AMP) after leaving LPL Financial in 2019. The team, led by advisors Michael Upton, Jeff Draughon, and Joey Bollinger, has grown client assets from $633 million to $833 million. Clients rated UDB Financial 4.9 out of 5 on satisfaction based on 76 reviews. The advisors credit their growth to Ameriprise's goal-based financial planning, integrated technology, and support during the pandemic, resulting in improved efficiency and client service.

The Board of Directors of Ameriprise Financial (NYSE: AMP) has announced a 9% increase in its quarterly cash dividend, raising it to $1.13 per common share. This dividend will be payable on May 21, 2021, to shareholders of record as of May 10, 2021. With over 125 years of experience, Ameriprise Financial provides comprehensive financial services through a nationwide network of 10,000 financial advisors, serving individual and institutional investors.

Ameriprise Financial reported a strong Q1 2021, with adjusted operating earnings per diluted share of $5.43, a 27% increase compared to the previous year, despite a 79% drop in GAAP net income to $3.58 per share. Revenue hit $3.3 billion, marking a 10% increase driven by robust client inflows exceeding $14 billion. The company also raised its quarterly dividend by 9% to $1.13 per share. The acquisition of BMO’s EMEA asset management business for $845 million enhances growth opportunities.

Ameriprise Financial (NYSE: AMP) has expanded its branch channel by adding two advisor practices with a total of $232 million in client assets. Steve Potter, transferring from Morgan Stanley, manages $125 million, while Frank Gordon and John Beninato, who joined from MassMutual, oversee $107 million. Both groups sought enhanced client services and support for succession planning, finding Ameriprise's reputation and resources appealing. Over the last 5 years, Ameriprise has attracted around 1,700 advisors, highlighting its commitment to comprehensive financial planning and client service.

Ameriprise Financial (NYSE: AMP) announced the addition of Ark Wealth Management, managing $120 million in assets, from First Command Financial Planning. Advisors Chris McCulloch and Wes Niblack emphasized Ameriprise's support, client-centric culture, and focus on financial planning as key factors in their decision. They appreciated the independent business ownership model and dedicated transition assistance provided by Ameriprise, ensuring a smooth client retention and growth process. Approximately 1,700 experienced advisors have joined Ameriprise in the past five years.

Ameriprise Financial (NYSE: AMP) announced a definitive agreement to acquire BMO Financial Group's EMEA asset management business for £615 million ($845 million). This all-cash transaction, expected to close in Q4 2021 pending regulatory approvals, adds $124 billion in assets under management (AUM) in Europe. The acquisition aims to enhance Ameriprise's fee-based businesses and expand its Wealth and Asset Management contributions, increasing total AUM to over $1.2 trillion. The transaction is anticipated to be accretive in 2023.