Ameriprise Finl Inc Stock Price, News & Analysis

ClearPoint Capital, managing $224 million in assets, has transitioned to Ameriprise Financial (NYSE: AMP) from LPL Financial. Led by veteran advisor Michael Tuell, the team includes his children, Jillian and John Tuell. This move was prompted by pandemic-related disruptions, with Ameriprise offering enhanced client support and resources. Michael highlighted Ameriprise's robust financial planning capabilities and digital experiences for clients. The family is also excited about career development opportunities for Jillian and John as they aim to become licensed advisors in the future.

Ameriprise Financial announced that 42 of its financial advisors were recognized in Working Mother Magazine’s 2020 list of the “Top Wealth Advisor Moms” in the U.S. This list honors women financial advisors with children under 21 who demonstrate professionalism and success. Rankings are based on assets under management, revenue, industry experience, client retention, and compliance records. Ameriprise aims to support women in finance and hosts initiatives like the Women’s Advisor Summits.

AM Best has affirmed the Financial Strength Rating of A+ and Long-Term Issuer Credit Ratings of 'aa-' for RiverSource Life Insurance Company and its subsidiary, highlighting their very strong balance sheet and solid operating performance. Concurrently, ACIC's ratings were affirmed at A, with a stable outlook. Despite strong fee-based business benefits, Ameriprise anticipates headwinds this year due to interest rate and market conditions. The ratings reflect robust enterprise risk management practices, crucial for navigating potential earnings erosion.

Ameriprise Financial (NYSE: AMP) announced the addition of two advisors, Mario Lopez and Gerald Di Chiara, managing a combined $275 million in client assets, to its employee channel. Lopez, joining from Edward Jones in Dallas, has 20 years of experience and manages $175 million. Di Chiara, moving from Merrill Lynch in New York, brings 13 years of experience and manages $100 million. Both advisors cited Ameriprise's technological support and commitment to financial planning as key factors in their decision, highlighting the firm’s adaptability during the pandemic.

Columbia Threadneedle Investments announces Gene Tannuzzo will succeed Colin Lundgren as Global Head of Fixed Income, effective March 1, 2021, due to Lundgren's planned retirement. Lundgren will assist in the transition throughout 2021 after a notable 34-year career with the company. Tannuzzo, who has been with the organization since 2003, has served as Deputy Global Head of Fixed Income since 2018. The firm, managing over $186 billion in fixed income assets, continues to uphold its investment processes amid this leadership change.

Ameriprise Financial has announced a $2.5 billion share repurchase program authorized by its Board of Directors, intended to enhance shareholder value and confidence in the company’s future. The buyback will be funded through existing working capital and future earnings, with flexibility regarding the timing and methods of purchases. As of June 30, 2020, about $500 million remains from a previous authorization, valid until March 31, 2021. The program will continue until September 30, 2022, but carries risks regarding execution and market conditions.

Columbia Threadneedle Investments has announced a lease for a new headquarters office at Atlantic Wharf, Boston, moving to 290 Congress Street in summer 2021. The new location, certified LEED Platinum, will occupy two floors designed for flexibility and collaboration, enhancing the work environment for over 500 employees based in Boston. This move reflects the firm's commitment to the city and its growth strategy, as Columbia Threadneedle, part of Ameriprise Financial (NYSE: AMP), manages $476 billion in assets globally.