Ameriprise Financial, Inc. provides financial advice, wealth management, global asset management and insurance solutions through a large U.S. advisor network and the Columbia Threadneedle Investments franchise. Company news commonly covers quarterly results, dividend actions, advisor practice affiliations, succession and practice-acquisition support, and updates tied to its advice and wealth management platform.
Recurring Ameriprise developments also include financial-planning research, investor satisfaction studies, industry rankings for advisors and fund families, and commentary on client engagement, asset growth and capital returns.
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.
Summary not available.
Summary not available.
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.