Welcome to our dedicated page for Ameriprise Finl news (Ticker: AMP), a resource for investors and traders seeking the latest updates and insights on Ameriprise Finl stock.
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 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.
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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.
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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.
Voyage Financial Group has transitioned to Ameriprise Financial from LPL Financial, bringing nearly $500 million in client assets. Led by co-founders Tom Royce and Mike Chong, the team sought enhanced resources to support their growth ambitions. They identified Ameriprise's dedicated acquisition support and integrated technology as vital for their operations. This move aims to improve service delivery while capturing expansion opportunities in the wealth management sector.
Ameriprise Financial (NYSE: AMP) announced a projected unfavorable impact of approximately $350 million after-tax on its third quarter 2020 adjusted operating earnings due to its annual review of insurance and annuity valuation assumptions. The low interest rate environment and a reduction in the 10-year Treasury rate assumption to 3.5 percent are primary contributors. However, this change will not affect the company's excess capital, which is determined on a statutory basis. The operating effective tax rate is expected to be elevated in Q3 2020.