Ameriprise Financial Rating

Customers Rating:    brokerage firms reviews

2024 Ameriprise Financial customers reviews, pros and cons, investment fees complaints. Is Ameriprise a good company and a fiduciary?

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Ameriprise Financial Reviews

by John Schappert,  1/24/2024

Pros:  Line of BS

Cons:  No Communication, website and people working there say things diametrically opposed to each other just fo starters they also send out non sensical letters to clients with no rhyme or reason

Review:  Not good. I have asked for exactly what I was paying in fees to this day from 2 years ago without an answer. Initially I was with Amerprise or Amex years ago. The broker I had Steve Colvin, a flaming asshole in Leesburg Va, only cared about who would invest more money with him. If you did not invest more you never heard from him hell of a way to run a business. So I left and went with another big time broker and lost my shorts and for some unknown reason to me as I still cannot justify I went back to Amerprise. Yes they made money for me, no I have no idea what there fees are yes there organization is the worse orginization I have ever worked with. They are like a bunch of kids and have no clue what the left or right hand is doing. I have had 2 major problems with them in the last 3 years involved with their constant lying to me. There website says one thing and their people another. Do yourself a favor invest elsewhere as I am about to cancel my accounts and do just that I have no need for their BS

by C. Rutter,  12/22/2023

Pros:  None

Cons:  Not ethical or fiduciary

Review:  Please read Steve's review. Real stuff! My story and many, many other are horribly similar. Unbelievable what Ameriprise does to people and with their heart earned money. No conscience... How do their advisors sleep at night knowing what they have done to trusting people. I do not understand how Ameriprise is still in business. Why has there not been massive lawsuits for their non-fiduciary business practices? Ameriprise clients should get back all the money that was syphoned from their accounts via self-serving financial advice. Thanks, Steve!

by Steve,  12/22/2023

Pros:  Nice, smooth talking account brokers

Cons:  You will not make any money on your investments and may end up losing it all

Review:  I invested $1,500 cash in Ameriprise when I entered the workforce but I made the mistake of not checking on it regularly thinking it would just grow exponentially. Luckily I diversified and I also began investing in a 457, Roth and a 403b with other companies. The Ameriprise broker was very smooth talking, told me what I wanted to hear, and sent me a regular investing tip email. 7 years went by and I noticed my investments hadn't earned one single cent, in fact it had lost money. Tried calling my broker only to be told that he no longer dealt with the public in his new job role. I was then contacted by some other broker who wanted me to pay $50 a month to basically just be told over and over to send them more money. I told him to go F himself! I then realized I was being charged $70 a year for management of my $1,500 account which is why the growth had become completely stagnant. I eventually got most of my money out and added it into my 403b with Voya. BEST THING I EVER DID because I now get dividends and my money has quadrupled! Do not deal with these predatory investors. If I could give them a negative rating I would and it sounds like I'm far from being the only one.

by Steve,  12/22/2023

Pros:  Nice, smooth talking account brokers

Cons:  You will not make any money on your investments and may end up losing it all

Review:  I invested $1,500 cash in Ameriprise when I entered the workforce but I made the mistake of not checking on it regularly thinking it would just grow exponentially. Luckily I diversified and I also began investing in a 457, Roth and a 403b with other companies. The Ameriprise broker was very smooth talking, told me what I wanted to hear, and sent me a regular investing tip email. 7 years went by and I noticed my investments hadn't earned one single cent, in fact it had lost money. Tried calling my broker only to be told that he no longer dealt with the public in his new job role. I was then contacted by some other broker who wanted me to pay $50 a month to basically just be told over and over to send them more money. I told him to go F himself. I then realized I was being charged $70 a year for management of my $1,500 account which is why the growth had become completely stagnant. I eventually got most of my money out and added it into my 403b with Voya. BEST THING I EVER DID because I now get dividends and my money has quadrupled! Do not deal with these predatory investors. If I could give them a negative rating I would and it sounds like I'm far from being the only one.

by Kae S.,  11/28/2023

Pros:  NONE

Cons:  Work to hide from you the fact that you are paying highest fees for sub-par returns.s and commissions

Review:  Amazing that Ameriprise is still in business. Doesn't anyone look at the high fees they are paying for low performance. Clients are losers and do not seem to be aware of this just because the advisor can really "talk". Had several Ameriprise advisors over the years and they are all the same. I made the mistake early and did not compare fees to other, i.e. Fidelity, Vanguard. I lost lots compared to what I would have made via another non-ameriprise funds. Differences in fees and commissions make a huge difference in dollars earned over the years. Believe it!

by Tracy,  9/13/2023

Pros:  Absolutely NONE Zero stars should be an option

Cons:  Greedy, fee oriented, untrustworthy

Review:  Too many negatives. I have experienced most of what the others who gave negative ratings have experienced. They are only out to make money for themselves. Take fees even when your account is losing money. You are better off putting your money in a bank savings or IRA savings account with a minimal interest rate than letting them manage your money. They can’t help you when you call, they schedule a callback from someone who can-I had to wait 9 days. Then that person couldn’t help so scheduled another callback for 5 days later. All in all, well over a month to get my money out - of course the account lost even more money during all this time! DO NOT RECOMMEND AMERIPRISE FINANCIAL FOR ANYTHING unless you enjoy throwing away money and getting the run around.

by Peter D,  7/26/2023

Pros: 

Cons: 

Review:  Possibly the worst on line website for account holders that actively monitor and manage their account. They provide limited options to display positions for equities--i.e. they do not allow for Purchase cost of positions / Daily Gain or Loss / Dividends / Yields and for Bonds /CDS it will not allow you to simply arrange/list by Due Date

by B. Deasey,  7/25/2023

Pros:  Good at complicating your financial statement

Cons:  Perform much lower than average market

Review:  Not a Fiduciary company no matter how much they tell you they are. They have two goals in managing your financial plan: 1) get as much fees and commissions from you as possible and 2) do it without you noticing. That's all they do. I do not know how they can look in the mirror and not feel disgusted with themselves.

by S. Greenwalt,  7/14/2023

Pros:  none

Cons:  Deceptive financial guidance

Review:  Ameriprise pushes self-benefitting financial planning that includes high cost annuities, totally looser REITS, and Ameriprise related funds that charge ridiculous fees with sub par performance. If you want to buy your advisor a boat then use them.

by Dr. Stephen Wolper,  6/24/2023

Pros:  None

Cons:  Refuse to show you what they do. Take your money

Review:  I gave her my money in good faith. The woman acted like my buddy for a couple years till she had a good bit of money there. She made papers so confusing that I couldn’t really find out what she was doing but I did see big numbers and it was in the years of the stock Market growing very quickly, I found out that she screwed over all the people who are recommended to her by my friend including me I guess it was my money. She used to buy a place in Florida and she left Philadelphia for Florida and could not be reached. She switched my investments from those that made me a profit to those that made her big commissions she was a thief. Ameriprise is not a fiduciary. Do not use them.

by S. Neil,  6/12/2023

Pros:  Outstanding actors

Cons:  Unbelievable liars

Review:  Why are there not more lawsuits against Ameriprise!!!! There are thousands and thousands of sad stories of what Ameriprise does to its clients. Only a few are contained in this webpage. Most do not get reported anywhere. Many are unaware of the extent of losses that their portfolio produces compared to other funds like Vanguard or Fidelity. Read the stories in this website. They are telling you real stories of how Ameriprise stabbed them in the back for their own profit. Sad deceitful financial planning. How can this continue? Is there no way to stop these unethical financial practices?

by Steven Joyce,  5/23/2023

Pros:  They have nice offices with views

Cons:  Dishonest to your face, exist only to profit from you. Zero stars.

Review:  Was sold 3 REITs as safe investments. Was not made aware that they couldn't be sold until liquidated. 2 of three decreased in value, one tanked within a few years. Despite this, Ameriprise continued to bill "maintenance fees" quarterly while admitting they had no control over the REITs' management.
Their website says their advisors are "fiduciaries". Not true. Stay away.

by Geralyn Norris,  5/23/2023

Pros:  None

Cons:  Liars and Crooks

Review:  My parents worked with an Ameriprise Financial "Advisor" for almost 40 years. When I left his so-called "Advisor" a voicemail to tell him my father was ailing and that we would be transferring some of my Father's assets out, he proceeded to kick all of my Father's accounts out of his practice and out to their corporate office. He did this the next day and never told anybody he had done so. I only found out after my Dad passed away a week later. He never called, he just sent me an email with an 800 number to call. Funny, the Financial Planning service that my Dad had happily paid for years includes "Estate Settlement" as one of the things that the service covers. Funnier still that my Dad received a fee for money management the day after he died, which would cover for services long after he was gone. What are we paying for? Paying fees for 40 years so that when your services are finally needed, you just get kicked to the curb? Paying money management fees that are no being managed by somebody my father has never spoken to and has no idea that he has actually died. If you want to stump and Amerprise "Advisor", just ask them how many Riversource Annuities they have in their own personal portfolios, and what percentage of their income comes from commissions and 12B-1 fees. Make now doubt about it, the only thing an Amerprise "Advisor" cares about is making money off of you. Run as fast as you can. Find an RIA (Registered Investment Advisor). They are all fiduciaries and are required to do what's best for you. Ameripirse "Advisors" are the lowest of the low and prey on people's ignorance. It's totally disgusting.

by Annabelle,  4/22/2023

Pros:  None, ZERO stars

Cons:  Too many to list

Review:  I am inheriting my loved one's account, which was "managed" by Amerprise. It began with $65K over 30 years ago. I am inheriting it in April, 2023, with only $15k left after only minimal distributions. My own money has been with Vanguard and over that same time and I have doubled it, with LOTS of distributions to pay for my loved one's very expensive end-of-life care. (I would have never been able to afford this cash-draining care if it wasn't for Vanguard.) **Ameriprise literally rips clients off.** The most deceitful financial company I know of. I agree with the reviewer who says this is perfect for a class-action lawsuit. Ameriprise should be ashamed of how they profit off the backs of their clients' hard earned money. Disgusting! Spare yourself a lot of grief and invest with Vanguard.

by Francis Honor,  2/25/2023

Pros:  Ask them as they will talk you asleep

Cons:  Still a company actively ripping off its clients

Review:  A class action lawsuit may be the only way to settle the complaints. Any lawyers interested in starting this up? There will be no lack on evidence in the case.

by Ar Hue,  2/25/2023

Pros:  very nice to talk with

Cons:  did not work to increase our account value, just to keep our account open as we continued to lose money

Review:  $370K account became a $250K account over 5 years, during which the S&P rose by 43%. We would have been much better off to have kept our money far far away from Ameriprise. One star is too good for this company.

by David Roe,  2/21/2023

Pros:  none

Cons:  Self serving and do not work for you

Review:  Just have to say I suffered same financial loss as "Bernadette" who recently commented this site. Ameriprise in located in suburb of Philadelphia advised buying CNL Reit investment using IRA fund money. I invested 25 K in this fund with Ameriprise agent saying it will provide continuous steady returns. Found out after years, there is no way to sell this fund until they make a sale offer. Even when you die you can't liquidate this investment; even your estate will be stuck with the Reit. Recently an offer was made and Reit now only worth 40% of the 25K. I had to sell it because no guarantee that I would ever get rid of it. To add insult, the 10,000 capital loss is not reportable as a capital loss due to it being funded from IRA money. Double hit! What financial idiot would ever recommend such an investment! So unethical! I was a real sucker and trusted Ameriprise. They made lots of money off of the fees with the Reit and I lost about 15K.

by G.E. Markham,  1/30/2023

Pros:  None

Cons:  Unbelievably stressful company to work with

Review:  You will ALWAYS, no matter what time of day, be on hold for a minimum of a half-hour, up to an hour. Ameriprise has taken so much time out of my life. I took in my elderly parents 6 years ago. I have dealt with multiple companies where my dad had investments. I have dealt with banks and with the military. Ameriprise earns #1 in aggravation. They would not accept any forms that my father put into place while he was of sound mind. Forms that were done by him, in person, at a legal firm. When changes needed to be made with Ameriprise, they required that my dad sign their particular Power of Attorney forms. He was physically disabled and was in mental decline. But for his protection, they wanted him to sign new forms with a notary present. Legal forms he drew up with a lawyer while in good health were less protective than requiring him to sign papers in bad condition with a $50 notary? They actually open up the possibility of elderly people being taken advantage of with a practice like this. Not protecting them and making sure their designated Power of Attorney has to abide by their original paperwork is dangerous. I may not understand the legalities, but no other company required this. Both of my parents have since passed. It took me one week to settle affairs with other firms. It has taken months to finalize things with Ameriprise. I am fed up with waiting on hold for the department that I do not need. They couldn't even give me a direct number to the Estate Settlement department after my mom's passing. During such a difficult time, when your parents have died, they just caused more grief. When I did speak with Estate Settlement, the woman gave me no information at all about how they would handle the closing of the account. I foolishly assumed it would be simple like it was with the other companies. And each beneficiary cannot take care of things online. Each one of them has to call Ameriprise. I warned them to get a snack and enjoy the wait. The poor guy at the end of the road for me was forewarned that I was at wit's end. He did not handle my frustration in a way that diffused my anger. He literally made it so much worse. I have been in customer service all my life. They can speak to you like they are on Prozac, but what you really need is for them to actually pick up the phone and solve a problem in some reasonable amount of time, in some reasonable way. Stay away from Ameriprise. Worst experience ever.

by BERNADETTE C HILL,  1/10/2023

Pros:  None

Cons:  Deceitful

Review:  Sold us a REIT, got their commission, then washed their hands of us. We then had to deal with this "alternative investment" company BUT Ameriprise had the audacity to charge us a fee for "managing" this account. We could no longer access our money, god only knows who actually has it, but basically it was no longer ours. Recently we have been given the "opportunity" by a third party to sell our REIT shares to them. Instead of the $1084 listed on the latest Ameriprise statement, we could get $187. This we will do just to get rid of Ameriprise once & for all.

by Sonya Harmany,  12/17/2022

Pros:  NONE

Cons:  Too many to list here

Review:  People, read all the experiences provided by former clients. Believe them! High fees and commissions; agents have no shame when they lie right to your face and/or hide the truth by talking you into a coma. Wake up and take care of your financial fate - don't trust ameriprise agents with your future!

by Terri,  10/22/2022

Pros:  None

Cons:  Work in their best interest NOT yours

Review:  Horrendous experience. One star is too high. They recommended the mutual funds that made them the most money. Whenever I asked about fees, commissions etc that I was paying they side stepped the questions no matter how many times I asked verbally or in writing. Never got an explanation or an answer. When I finally realized I was being taken advantage of & ripped off, his comment was, "You may not have made money, but I made a lot off of you". I was with this man for like 15 to 20 yrs because I thought I could trust him but he took advantage of that trust and my financial ignorance. I reported him but they are investigated by their own agency - can you say conflict of interest. In case you can't guess, they did nothing.

by Mike Oliveri,  10/19/2022

Pros:  Absolutely nothing to say here

Cons:  Will ruin your early retirement chances, you will work till 80 to pay for their commissions

Review:  Totally agree with John D, 10/16/2022 comments. Recently with agent in suburban Philadelphia location and cannot understand how they are still in the financial advising business. Their advise will drain your future with high cost annuity type products.

by John D,  10/16/2022

Pros:  Good at Deceiving

Cons:  All

Review:  After 3 years of being fooled by all the fake politeness, I got out of Ameriprise except they will not release a $150 thousand dollar annuity without a tremendous loss.
They are NOT a company that I would recommend to anyone. Before the pandemic I asked them about selling some investments and reinvest later after the market dropped so their reply was “This virus won’t affect the economy”
They constantly wanted me to buy annuities and open multiple additional investments that charge monthly fee’s between $25-$50 a month and never disclose the additional charge fee’s.
Right before the Ukraine war started they wanted me to invest more of my personal saving’s. I asked don’t you think the possibility of a looming war this would be risky time and a bad decision? His reply was “ The war won’t have any affect on the economy” !!!!
During the next 3 month’s I was trying to get out, I lost about $150,000 in investments. I WAS at my goal to retire and they knew it but that made nothing to them. All they wanted was more money even after my tremendous loss !!
My advise is STAY AWAY and if you are using them GET OUT ASAP .

by Steve,  10/3/2022

Pros:  They have a good sales pitch

Cons:  Ameriprise is not there to help you

Review:  I have now helped 3 family members and 1 friend exit Ameriprise.
For those already with Ameriprise, you cannot leave easily.
-Compare your statement with a friend who has Vanguard or Schwab
-Try to understand what your fees are
-Get on Yahoo finance and compare your funds to an equivalent VG/Schwab/Fid
-Pay close attention to expense ratios
-Stay away from annuities (annuities are a high commission products)

by Kai Somerton,  7/5/2022

Pros:  Are you kidding?

Cons:  Self serving with limited financial knowledge except for Ameriprise funds

Review:  Everyone should take a look at their financial statement from Ameriprise. It is very complicated and made that way on purpose. It never tells you what the costs are of the funds they have you invested in. This they do not want you to know because you will realize you are paying 10 to 20 times what is charged by similar vanguard or fidelity funds. Ameriprise funds can only make any financial gains during times of economic prosperity. At all other times they are flat performers. Sad but when the funds are flat or loosing, the agent still makes money off of your hard earnings.

by anthony bartel,  6/17/2022

Pros:  Brokers are usually young and aggressive to get your funds invested

Cons:  Investments are in Ameriprise accounts that at flat performers with high fees

Review:  I have had several Ameriprise advisers due to my frequent change of locations. Without a doubt they have all been very aggressive about getting my funds and investing them as quickly as possible in Ameriprise featured funds. Over time these funds are flat performers but go negative due to the high fund fees and costs. It is really a shame that Ameriprise hires all these reasonably nice people and turns them into fund/money grabbing "squirrels". They act like they care about you but they truly hide the facts and actually get mad if you question their investment strategy, All I can say is "run forest run". Get out of Ameriprise as fast as you can.

by H. Hunt,  4/14/2022

Pros:  Gives me a nice calendar every year.

Cons:  Too good at giving you the "Big Lie" concerning your finances

Review:  I am getting out of Ameriprise as soon as feasible. With all the stuff going on I am taking a serious hit with the market. Sad thing is that not only do I take a market value loss I still get charged the crazy fund/index fees for the Ameriprise investments. Fees are at least 10 times what Fidelity charges. They are charging me to loose money; no wonder my agent doesn't seem concerned. Why should he be.

by William Spense,  4/12/2022

Pros:  Unbelievable talented at persuasion

Cons:  Organized system of ripping off clients

Review:  All thanks to Tim O, 4/6/2022 for telling a real story of what Ameriprise does to its clients. Please more people tell your story. Many people just let Ameriprise run their portfolio and are unaware of how bad it performs compared to self-managed funds like Vanguard or Fidelity. My goal was to retire when I was 55 but thanks to Ameriprise I had to work until I was 71. Now I am old and sick with little life years left. Wish I would have learned about Ameriprise's system of failure earlier. Sad, real sad.

by Tim O,  4/6/2022

Pros:  Seriously Not One

Cons:  Crooks

Review:  This is an update since my 2019 review and discontinuation with Ameriprise after 15 years of service. I went self directed and exceeded my Ameriprise total net gain (15 years worth) in year 1, repeated this in year 2, and yes repeated this again in year 3 with simple low cost index funds. I realize I had good market years, but Ameriprise also had many. Roger Kash and Cory Nesmith, Richmond, VA you should be ashamed of yourselves. How can you possibly look your spouses and kids in the face with respect. A crook is a crook, whether what you’re doing is legal or not. I’d be retired already if I never met you crooks. P.S. Make sure you tell you kids you screw others for a living. Ughhhh Ameriprise Sucks!,,,,

by Marcia Colon,  3/16/2022

Pros:  Advisors make money

Cons:  You don't

Review:  Just got out of the horrible CNL Properties investment my Ameriprise advisor sold me. Great deal! I invested 16K and after 12 years I was lucky to get out of it with 7K left. If you dont know, this is a Reit investment that makes Ameriprise 8% a year and you nothing. All principle gets eaten away and this investment is not liquid, i.e. can't get out of it unless shares are bought out. I am in my 80's now and had to sell when the low offer was made because this investment is not sellable even when you die. Unbelievably unethical that Ameriprise would sell this kind of looser to its clients.

by Pat Bowman,  3/1/2022

Pros:  None

Cons:  Dishonest

Review:  Unethical, sneaky, cruel, disgusting

by Steve K,  2/15/2022

Pros:  Have many products to offer

Cons:  Sale/fee oriented, Non-Fiduciary

Review:  Do yourself a favor and get several opinions on your financial picture and see how the various plans align with goals. I'd also add, do your own research as well. All firms are in business to make money, some do this with higher fees and products with embedded fees you'll never see. If something doesn't feel right to you, wait on making a decision. My experience was that my advisor churned/sold many funds he initially put me in causing me tax liabilities (albeit not huge) but the gains would have ben substantial had we just left the investments alone. At the end of the two years I spent with Ameriprise, I was no better off in one of the biggest Bull Markets in history. I paid them well with fees, got stuck with tax bills and had meager returns. I have since moved to a low fee firm and will do some of my own money management. Bottom line: Everyone needs to make money, its up to you how much you are willing to give them.

by Mark Cayman,  12/31/2021

Pros:  Well organized sales cult

Cons:  Personable agents who will win you over

Review:  Regarding my experience using Ameriprise Financial - I learned not to put all trust in someone else. I will never give someone else control over where goes. Learn at least the basics of investments so the Ameriprise agent does not "snow" you when talking about investments. Really, it is not "rocket science". There is no need to pay high funds fees with Ameriprise investments. When the Ameriprise fund earns less, it is a bad investment compared to Fidelity or Vanguard. The only reason the Ameriprise investment will recommend a fund is because they are making money on fees. The agents challenge is to recommend funds that pay them the most are just palpable enough for you to stomach them and not notice you are bent over with no lubrication.

by Paul,  12/2/2021

Pros:  Great at writing 5 star reviews for themselves on this site

Cons:  Poor investment choices, very high fees, not fiduciaries for their clients

Review:  It seems that one person wrote many of the recent glowing tributes about Ameriprise after reading the reviews from the clients that appear earlier. Keep these things in mind when dealing with Ameriprise Financial: 1) The advisors you’re working with are incentivized to sell you Ameriprise investment and insurance products which creates an inherent conflict of interest as these may not be in your best interest as the client. 2) Ameriprise fees are among the highest in the industry across the board which constantly cuts into the value of your portfolio. Ask your advisor to disclose ALL the fees (including the imbedded fund fees and the rider charges on annuities) associated with your account; you may be very surprised at how much of your money is going to Ameriprise instead of remaining with you.
The Ameriprise financial plan is a vehicle to sell its own products. Every recommendation is accompanied by an Ameriprise product pitch for that component. Before accepting any of these do research and see how those products rate in the industry from independent sources. You'll find the products you're being offered rarely if ever provide the best returns.
If you really want a financial plan, work with a fee-based fiduciary advisor; those advisors will work with you to create a plan based on your priorities and risk tolerance to maximize your returns without having a vested interest in selling you a single company’s offerings; especially the poorly performing ones offered by Ameriprise.

by Billy G,  11/20/2021

Pros:  None

Cons:  None

Review:  All the 5 stars are people that work for Ameriprise. That’s unbelievable, isn’t it a tad odd that 5 stars and no con. Not believable at all. Should not be allowed

by Richard Klingerman,  11/9/2021

Pros:  Personable. Experienced. Understand investments, retirement and the big picture

Cons: 

Review:  My advisor helped me retire earlier than expected and helped me understand what I needed to retire and leave my money/properties to my kids the right way. I was so confused and he helped clarify my situation for me and help me understand how the stock market works and the actual risks involved. I was recklessly invested and feel foolish looking back. Oh man do I wish I met my advisor 15 years ago. I would be so much wealthier, smarter, and confident with my decision. I would have made SO many decisions differently. It breaks me to see so many people with bad experiences on here that make my guy look bad when it really depends on each individual person! I recommend Ameriprise to all as a company but you need to know your personal advisor as well.

by R. Guiliani,  9/29/2021

Pros:  Real financial advisors, honest and caring

Cons:  none

Review:  I recently had the opportunity to work with professional agent from Ameriprise. He was polite, professional and on top of his game. He made me aware of options available I had not considered while laying out a solid foundation for continued growth. I can't say enough about him, his can-do attitude and reliable service. Thanks Ameriprise.

by Cullen Bellemore,  7/26/2021

Pros:  Ameriprise agents are good at writting positive reviews on this site

Cons:  Practiced presentations that are well coached with your money as the target

Review:  If you think Ameriprise has your best interest in mind, ask them to sign a fiduciary agreement!

by Gary Sanchez,  7/2/2021

Pros:  The BEST out there

Cons: 

Review:  Smart, know finance, and are able to understand taxes. Our advisor was able to point out all the areas our previous one time consultant made mistakes. He helped us realize we could be saving so much with taxes and helped create a great investment portfolio for us. Get yourself a REAL advisor. Actual human that knows his stuff.

by Vince Porter,  6/27/2021

Pros:  Finance experts, smartest of all, and quality recommendations

Cons: 

Review:  As someone who studied finance, I understand the art and the science that goes into financial planning and these guys get it! They completely restructured my portfolio and gave me something way less volatile than what I had but my returns were still very strong! They taught me about insurance as great financial instrument to use. They are quality. Always beware of those financial advisors that are so quick to just throw you into a single mutual fund and then ignore you or provide insurance without reaching what it is. That’s what my JP Morgan advisor did to me. Ameriprise is leader in financial planning and financial education. Thank you! I feel more confident with my Ameriprise advisor and my returns have been higher too!

by Rosa Santos,  6/24/2021

Pros:  Experts in Retirement and Investment Planning

Cons:  Underappreciated company

Review:  Ameriprise has been the best experience. This is the type of service every financial advisor should provide to their clients. I was with Vanguard and they sucked compared to this firm. These advisors are actual financially geniuses. Not a bunch of college kids in a call center giving terrible generic advice like Fidelity and Vanguard did with me. Never going to leave Ameriprise.

by Frank Keller,  6/15/2021

Pros:  Fiduciaries, educators, and competent

Cons: 

Review:  Best financial planning and advise firm. They understand estate strategies. They understand investments and financial planning. They understand insurance. They understand taxes. 10/10

by Judy Wilson,  6/14/2021

Pros:  Smart, Informative, Trusted

Cons: 

Review:  I switched from Vanguard to Ameriprise and.. WOW. The level of expertise and advice is incomparable. Highly recommend an Ameriprise advisor.

by Leo Burns,  6/11/2021

Pros:  Best Advisor I’ve Worked With

Cons: 

Review:  I’ve worked with a lot of advisor, from the terrible “low-fee” advisors to RIAs, and my Ameriprise advisor has been the best advisor. You get what you pay for. All these comments about fees being high are from people who want good service, advice, and recommendations, but they want it for free, and can’t wrap their heads around why their portfolios are terrible and Fidelity just connects them with a call center filled with newly graduated college kids that don’t know a thing about investing and CERTAINLY not financial planning (completely different things). If you’re serious about financial planning, investing, and retiring confidently, see an advisor from Ameriprise. They are known for financial planning. Not these sweatshop brokerages where you are just a number so they control your assets and leave you in the dark thinking you are saving money… what a joke. I get a feeling some of these comments are from competitors. Thank you Ameriprise for all that you have done for me.

by Ramona Ceaman,  6/10/2021

Pros:  Nice and personable

Cons:  Charge high fees resulting in less earnings/gain over time

Review:  Most of the people that use Ameriprise seem to like their advisor. This is by design. They are sales people first and advisors second. True, they are nicer and contact you more than other financial advisors but adversely you will make less money on your Ameriprise investments due to high fees and fund operating percentages. It can amount to some serious money loss over time. But if you want to hire someone to call you frequently, use Ameriprise. If you want to make more money, use an advisor that invests in low fee funds. Do your homework. Compare fund cost percentages and performance. Just because a fund charges a high fee doesn't mean it will make you any more money.

by Christine Garcia,  6/9/2021

Pros:  Top service and top advice! 10/10

Cons:  Zero

Review:  I absolutely love my advisor from Ameriprise. My sister is with an Ameriprise advisor in Florida and she feels the same! Love, love, love them! This firm is for sure the industry leader in service. They are so caring and really take the time to teach and explain. They even loop in experts when I requested without hesitation, showed me proof when I was in doubt, and took the time to educate. I was with Wells Fargo before and WOW. They DID NOT call me as often as my Ameriprise advisor or try to meet with me or explain to me what the F they even had me in. The old school banks have to up their standards. Ameriprise = quality advice and recommendations!! 10/10

by Judy Kies,  6/6/2021

Pros:  Very insightful and helpful

Cons: 

Review:  It’s true when they say, “you don’t know what you don’t know.” I started working with my advisor a few years ago, and if it wasn’t for him, I would not be living as confidently and securely as I am now - especially after a terrible divorce!!! He taught me so much about what options are available to me and helped me feel confident and back on my feet once we got my finances in order. He helped me understand my taxes too. My CPA didn’t even do that!! Everything from soup to nuts with my investment portfolio to my medical directives and estate plan for my kids. I couldn’t be happier with my advisor.

by David,  5/23/2021

Pros:  None

Cons:  More so a group of Annuity Salespeople, from my experience.

Review:  More so a group of Annuity Salespeople, from my experience.

by David Johnstone,  5/21/2021

Pros:  Great personal service and very educated about investments and planning

Cons:  They have a lot of hate from people that don't understand

Review:  My Ameriprise advisor has literally changed my life around and my financial picture. People leaving negative reviews here DO NOT understand the difference between financial planning and advice compared to just opening your own account and trying to figure it out on your own... BIG DIFFERENCE. Investing the right way takes a science and an art. I have lost so much money trying to do what they do on my own in the past years. My advisor works hard for me, and yes, they are compensated for it. I have never been charged a fee that I was not aware of by my advisor. If your advisor sucks, GET A BETTER ADVISOR. Do not consider everyone bad because of some bad seeds. The company is just the resource the advisors are able to use to help you... you should be involved in every decision and the decision maker. That is how it is with me and my advisor and I can't be any happier..... I've experienced the other "advisors" at the brokerages. Terrible service, no care for the client.

by jim hall,  5/16/2021

Pros:  none

Cons:  charge too much

Review:  I started with American Express Financial Advisors back in 1999 and was charged $600 up front and told there would be no more fees involved. Ameriprise took over and started charging $20 per year (not a big deal) and said it covered all my funds (be aware my accounts were in the thousands of dollars range). Then they talked me into switching my 401K from the job I was leaving into their fund and I started getting charged an additional $20 a year for that fund too (once again in the low thousands of dollars) and they made the excuse that it was a different kind of fund and that's why the additional fee. Finally the straw that broke the camel's back was when they were going to start charging $100 per year for each fund so I closed my accounts (which they charged me $50 to do) and used the money to pay off credit card debt to save on the interest since that was actually in "my" best interest.

by Vance Everstone,  5/12/2021

Pros:  Always there if you need to contact them

Cons:  Highest fees, not fiduciary company

Review:  Ameriprise is not a fiduciary financial advisor. There investments put them first instead of your long term benefit. Examples of looser investments are: 1) real estate Reits 2) high cost/low cost annuities. 3) Riversourse insurances 4) Other obscure Ameriprise related stock funds. All are not the good performing low cost investments that produce the highest return for you in the long run. All are investments that produce the highest return for Ameriprise and the "Agent". Wish i had it to do over, I could easily have twice the income than with Ameriprise.

by Katherine Wu,  5/4/2021

Pros:  1) Your advisor is YOUR advisor 2) Lots of resources and help 3) leaders in ACTUAL financial planning

Cons:  None

Review:  I currently work with an Ameriprise advisor in Los Angeles and he has been so so great. I am self employed so helped me with planning for my retirement, long term care, and education planning for my nieces and nephews. They always keep me updated with what is going on and I love the relationship we have. I can say that my advisor is like family to me. I prefer it this way. Definitely when it comes to handling my finances. My advisor also reviewed my father's trust and helped me set one up for myself too. I can not be more thankful. The type of service from my advisor at Ameriprise is nothing compared to what I was getting at UBS. My friends that are at Fidelity also do not get this type of attention or service so i am happy.

by Casey,  4/26/2021

Pros:  Excellent client service. Real fiduciaries. Industry leaders in research and investment management. Very helpful in every way.

Cons:  None really

Review:  I made the switch from Fidelity to Ameriprise and I couldn’t be happier and more thankful. The depth of the planning and advice I received from my Ameriprise advisor can’t be compared to anything I received at Fidelity or while I was with Vanguard. Amerirpise actually creates a custom plan for you and reviews your entire financial picture to help. And they check in with you too. My Amerirpise advisor taught me so much and how it all comes together. The client service with your own personal advisor can not be compared to calling a random advisor in a call center like where I was at before and it felt like they did not really care about you. The personal touch at Ameriprise can not be replaced.

by Arthur,  4/24/2021

Pros:  Sharp, excellent customer service, experts in all areas, great advice, very knowledgeable, experienced

Cons:  None

Review:  I thought I understood investments and would never pay a dime to an advisor, but I was an idiot for waiting so long. I love that I hired a financial advisor. There is so much I have learned from Sam (my Ameriprise advisor) and have made some great investment decisions thanks to his recommendations and guidance. Sam always checks in with me to share the latest and greatest investment research too. The amount of research his team does is incomparable to what I was doing for my own portfolio. Sam also took a look at my trust documents and helped me with reducing my taxes. I was shocked by how very well-rounded he is. I was even more shocked that my CPA didn’t think of the things my financial advisor thought of. He’s really been a savior, and I love all of the reads he shares with me too. You really do get what you pay for at Ameriprise. I highly recommend.

by Kevin,  4/11/2021

Pros:  Our advisor is very knowledgable and did a great job in walking us through our options. He was not biased towards their own products and educated us on the pros and cons of the different recommendation alternatives. Our advisor also helped us strategize for tax and estate planning, which was an amazing help to us! So much we didn’t know that our CPA and estate planning attorney didn’t mention!

Cons:  Not all advisors are built the same, but this is applies to every industry where the advisors/agents operate independently under a big name.

Review:  Our advisor has been great to us. We have learned so much from him. He has provided us with multiple financial plans over the years, helped us come up with solutions that we compared to other alternatives, which he went through and explained the differences. Just make sure your advisor is a CFP! The option for your investment choices is ultimately yours but the advisor has to be qualified enough to guide you. We are lucky that our advisor is very knowledgable in tax planning and estate planning as well. He has helped us in making big financial decisions (e.g., comprehensive analysis for lease or buy home and investment allocations and long-term care planning). He walked us through all of the pros and cons of each insurance option too and allowed us to ultimately pick what we were most comfortable with. Regarding the fees being high, that is all negotiable and they are honestly competitive. You are paying for the advisor’s time, advice, and service, so the negative comments below shock me. Good planning and advice costs a fee as with any other service. By saying to go to Fidelity or brokerages where you manage your own account without having the background or knowledge is the equivalent of recommending someone to remodel their own home because they don’t want to pay a contractor or to do their own taxes because a CPA is too expensive... but this is after consulting with a contractor or CPA for hours and being educated on the solutions and plan he’s come up with for you. Hospitals have good doctors and bad doctors. Real estate firms have good agents and bad agents. Understand your advisors credentials and background before settling with one. A background in finance and/or a CFP designation is must! Our advisor didn’t have it, but he was an exception due to his strong financial and insurance background.

by Lisa,  4/8/2021

Pros:  None.

Cons:  Told me what I wanted to hear but didn’t follow through.

Review:  I hired a “recommended” Ameriprise financial advisor. I paid several thousand for a financial plan upfront, with the agreement that if I liked the plan and his thought process, I would consider moving my 401k to their management. After 3 months and several meetings, the only plan I got included rough idea of asset allocation, an annuity I told him 3 times I didn’t want and an income producing combination of funds that Ameriprise put together. When I asked what funds that included, the answer was “the right ones for you”. I actually laughed. When the “advisor” told me I needed to rollover my 401k to him NOW, I said I was still waiting for a comprehensive plan, including a cash flow mapped out. He got mad, said I was playing around and offered to refund me. I jumped at the chance to get rid of him. Bullet dodged. He never should have said he’d do a financial plan and taken my money because he had no intention of producing one. Or maybe he didn’t know what a financial plan should include.

by Otley Simenson,  3/24/2021

Pros:  None

Cons:  Sells their products that have low returns with highest costs and commissions in industry

Review:  Totally agree with the comments posted by Peter, 3/17/2021. When there are so many low fee methods to invest money, i.e. Vanguard, Fidelity etc. there is absolutely no reason to get tied up with Ameriprise Financial. Now that I look back and see all the money I lost with Ameriprise it just makes me sick. I just got out of Ameriprise and I can already see the funds growing quicker with Fidelity low cost investments. It is really sad to see the carnage created by Ameriprise "self-serving" investments. If you are in Ameriprise, get out now!

by Peter,  3/17/2021

Pros:  None I can think of

Cons:  Excessive Fees, Poor Performance, Pushing Clients into High Commission Products

Review:  If you don't have your money invested with Ameriprise do yourself a favor and immediately switch to a Vanguard or Fidelity where you actually have the opportunity to make money for yourself instead of making your Ameriprise advisor even richer.
The entire goal of Ameriprise is to have you take your money out of any investment that it does not manage and move it into its portfolio of services which are overpriced and underperform. You will be steered to the products that make the advisors the highest commissions (think Riversource Annuities) and be told that this will secure your financial future with no discussions of the exorbitant fees associated with the annuity or your inability to move your money out of it without huge penalties once you figure out what a bad investment you've made.
How Ameriprise ever got the 4.5 out of 5 customer satisfaction rating it claims on the website is unbelievable considering how poorly its products perform compared to other investment firms. The majority of the reviews on this site provide the accurate picture of how Ameriprise really operates.

by Mitch Simpari,  2/27/2021

Pros:  Not applicable

Cons:  All agents are trained in the same methods to build/acquire your trust

Review:  It is just so sad to think of all the money people are loosing compared to investing in low cost funds such as fidelity, vanguard or similar. The Ameriprise agents have no compassion for this. They are successful at Ameriprise when they balance the garbage investments such as annuities, Reits and high cost funds to a point that you do not realize you are getting screwed. Just a shame.

by thomas andersen,  1/28/2021

Pros:  none

Cons:  Not working for you but for themselves

Review:  Ameriprise does not work your account for your benefit but for theirs. After many years of using Ameriprise (with several different agents) I came to realize that their method of concern is not about you but how they can manage and place your money to make them the most over the term. If you are already in Ameriprise I would recommend that you really take a hard, hard look at what they are doing to your accounts. Ask your agent to give you in writing what the costs, fees and commissions are for each investment. If they balk or overly discuss in anyway you can assume you are being screwed. You will undoubted learn that the commissions, fees and costs of your investments are extreme compared to investments like Fidelity, Vanguard. Ameriprise will try to tell you that you are paying more because the investments are closely managed and therefore they make you more. They will not tell you that the more they manage your funds the more they get in commissions, fees. Thus they win and you make less than market rate on your investments. If you want to make about 1/2 of what you would with other investment companies then stay with Ameriprise. They will smile and talk to you monthly if that is what you want.

by Daniel Dumile,  1/1/2021

Pros:  Many around in most areas

Cons:  Make more on your money than you do

Review:  Although Ameriprise/Agents are almost everywhere, if you search internet for "Best Financial Advisor Companies" Ameriprise is rarely listed. That should tell you something.

by Nicholas Gertz,  12/29/2020

Pros:  Negative value

Cons:  Use your money to make them big fees

Review:  Just looked at the REIT my Ameriprise agent put me in back in 2013. In seven years its value went from 15,000 down to 10,000. Ameriprise earns really high fees and commissions off of these accounts. If I would have put this money into a low fees diversified fund at fidelity or vanguard it would easily be worth double the amount; 30,000.00. What a looser! Also, almost impossible to get out of a REIT and if you do it could be at much less value i.e. 50%. I can' t sell the Reit even when I die, it requires an offering. Man, did my agent give me the shaft or what. He lives in a real nice house though.......

by D. Torok,  12/18/2020

Pros:  None compared to other companies

Cons:  Self-serving, secretive of their fees and commissions

Review:  Ameriprise makes it seem complex and confusing so that you feel you need them. You would be better just investing in a very low fee fund at Fidelity or Vangard. These funds are easy to self manage, diversified, have very low fees and will (without a doubt) grow at a better rate than paying ameriprise to muck it up. Check it out for yourself. Ameriprise tries to sell you annuities, Reits and other complex platforms that charge you up to 20 times the fees of a low commission Fidelity or other fund. It is a shame people don't realize this until they have lost lots of $$$ with ameriprise.

by MLR,  12/16/2020

Pros:  None

Cons:  I was a client for 20 plus years for the first 15 years they did made a return but the last 3 years they have not made a positive return drop they lost money after I paid $30,000 in fees.

Review:  Pass on Ameraprise.

by Ann,  11/29/2020

Pros:  Got nothing here

Cons:  They suck

Review:  They just suck, period

by Sidney Resamore,  11/23/2020

Pros:  Creative in finding funds that make them high commissions

Cons:  Avoid funds that are low cost and would make you money

Review:  Looked at my investments and found out Ameriprise commission rates about 10 - 20 times higher than similar investments with Fidelity. Performance with the Ameriprise investment was actually much worse than the Fidelity investments that had lower fees. Ameriprise said their funds were better because they were more closely managed than other investment funds. Really? Seems like Ameriprise is charging high rates so I can make less.

by James,  11/1/2020

Pros:  None

Cons:  Too Many To List.

Review:  Stay away from Ameriprise Financial. They focus only on one thing; making money for themselves. They care nothing for the client. They are fast talking spinners who convince you to invest in financial products that are inappropriate for you but make money for them. They push annuities constantly. And, REITS. Stay away from them. Please.

by Owen Anders,  10/14/2020

Pros:  Arrogant, self serving (good for them)

Cons:  Arrogant, self serving

Review:  This review is in response for comments posted by Jay, 10/12/2020. Jay, feel bad for you bud, unfortunately it happens far too often. What they did to you would be grounds for a lawsuit. It was truly unbelievable. I hope you hold them accountable. Concerned former Ameriprise client.

by Jay,  10/12/2020

Pros:  Made some money for me in short time they permitted me to stay with them. CEO never met or corresponded with me, but has acknowledged me via e-mail since they asked me to leave.

Cons:  Not completely informative; too much emotion; not flexible

Review:  I joined Ameriprise on a friend's recommendation for a managed account of mostly an IRA The trader immediately took my account, sold everything and invested virtually all in mutual funds without reviewing with me. I made some small recommendations for purchases, nearly all of which the trader declined to make since he "managed" my account. I learned much later through a third party he was following a "cookie cutter" account, and had little room for fluctuation.

They later recommended an annuity. Two days later when I came to the office I asked for a little more time to decide. The trader refused (suggesting later I was too nervous since I had asked to go to the men's room twice--which in actuality was a urological problem) and asked me to leave. I then received a very angry call from my financial advisor telling me to remove my accounts (which were in the higher six figures) ASAP. When they didn't all move for several weeks, I had to call Corporate several times...Corporate did take care of it but said I really didn't have to remove all my accounts if I hadn't wanted to, unlike what the advisor told me.

I did finally move to a brokerage firm that shows me a lot more respect and will let me even take an annuity from yet another firm or split my holdings. With Ameriprise it was either all or nothing. And what on earth they hoped to accomplish by telling me to leave is a mystery other than to let the financial person let off some steam. I am a 70+ year-old stroke survivor (not familiar with the market) and each day appreciate the kindness, respect, and dignity I'm getting from my new brokerage Firm and they seem to appreciate the business I've given them. And further, the new Firm has looked at all my finances and my life in general, and not only what I have in the market, and further, the new Firm[s fee is less than Ameriprise's.

On a positive note, the CEO of the Ameriprise franchise, who never met or corresponded with me while I was there (he said his staff kept him "informed"), has acknowledged me via polite e-mails and does seem to have a better temperament. And I did make some money in a rising market but am a long-term guy my current Firm assures me they will be kinder and i can stay forever (I asked for them to at least keep me a year minimum and they agreed.)

by Stan Rumel,  9/20/2020

Pros:  They are good at selling financial products

Cons:  The products they sell are costly in fees, commissions with moderate performance

Review:  One thing I can say about Ameriprise is that they ensure to keep in contact with you. In my case at least quarterly. They review all the accounts with you usually via teleconference, especially now with the Covid virus. The mistake I have made in my financial planning is that I did not compare what I would have made with other financial companies; Fidelity or Vangard for example. When I did this comparison, however, I learned that I was loosing a great deal with Ameriprise. The investment performance was lower than other investment companies. Additionally, the fees, commissions were significantly higher; up to 20 times higher than self managed Fidelity/Vanguard investments. I calculated that if I would have gotten rid of Ameriprise 15 years ago my account value would be double what it is today. Dont trust me though, do your homework and compare fees, commissions and performance of investments.

by Steve,  9/15/2020

Pros:  Our Ameriprise broker analyzes our full financial picture, not just the money we have with Ameriprise. Our Ameriprise advisor and her staff are top notch, responsive and attuned to our accounts. Our advisor contacts us at least once every six months to address our overall finances (again, not just the money we have with Ameriprise).

Cons:  None really

Review:  We have been pleased with the service and the progress of our investments. Our advisor has us very well diversified in stocks, municipal bonds, CDs, ETFs, mutual funds and cash. The fees are a little higher than some other firms, but we believe our advisor is working on our behalf and she takes her role as a fiduciary seriously. We inherited some money and asked our advisor for suggestions on how to invest the funds. Instead of taking our money to earn her more commissions, our advisor recommended we pay off our mortgage instead, so we did.

by John Chiriano,  9/1/2020

Pros:  Nice personality, good actor, can talk you into anything

Cons:  Does not work to help you but to make money for Ameriprise

Review:  Recent comments by submitters to this website continue to state how their Ameriprise financial adviser is nice and great to work with. Ameriprise routinely has the client rate their advisor which mostly questions how much they call and discuss your account. Isn't it amazing that they never ask about how you would rate "Ameriprise" on its financial performance such as comparing fees, service charges and commissions? This is because their strategy is to have the advisor strategically contact you so to re-emphasize how much they care about you and reinforce the feeling that your accounts are being well managed. The more they keep in touch with you the less chance you will research other investment companies and learn that Ameriprise charges 10 to 20 times what others do for fees, commissions. I wish everyone who uses Ameriprise just remember that it is not about the "advisor personality" or how nice he/she is, but about how well they perform financially. Important** dont believe what the Ameriprise Advisor tells you. Instead, evaluate their service charges, fees, commissions against the other leading investment companies. You will learn that you are getting ripped off by an advisor that is "nice".

by Russell Warren,  7/26/2020

Pros:  Love the broker. Operates in my best interest and with head office messes up (as they do frequently) he handles it

Cons:  None

Review:  Central Office systems are designed for the ease of the company, not the customer. Have been with them since 1986 and have pretty consistently found that to be true.

Think they know it. I frequently receive requests to evaluate my local representative who I love but in all of those years I have never been asked to evaluate the head office which develops the policy, the forms, and the systems. Just this past week I requested that a donation be sent directly from my account but their form does not include the designated use of the donation so I have to send the charity notice that it is coming and why. Earlier in the same week I was sent an auto sign for a $280K product Pretty easy to figure out how to sign. No so much figuring out how to see
what I was signing. At my request my representative sent me a hard copy so I could review it.

If they wanted to focus on customer service they could easily view their systems with that in mind. They don't, so it falls on the local rep to fit the needs of the client with the policies of the head office. Fortunately mine always does and without a whimper. They need to thoroughly analyze the customer orientation of USAA if they want to be at least adequate. If my rep retires I am out of there!

by Helen Franklin,  7/7/2020

Pros: 

Cons:  Joel van Hofwegen San Jose, refused to buy Amazon when I requested it, said it wasn't going anywhere. I switched to Ameriprise in MNN they lost my funds, never told me, I just found out today. I closed the account, but they really screwed me.

Review:  Sloppy communication, they lost one $1,000 check I wanted to invest. They couldn't care less. They finally found the check, lost for a month! Opportunity for the stock was lost. I demanded they buy the stock at the price on the date I had on that check . They refused. Cost me money because of their negligence. I closed the account, sloppy customer relations, sloppy firm.

by Albert Simmons,  6/22/2020

Pros:  Broker doing their job

Cons:  None - not their fault

Review:  The brokers are basically doing the job asked of them by Ameriprise. Unfortunately, Ameriprise charges high fees which ensures they make a profit even when the market goes into the dumps. Only thing I can recommend it to ensure you ask the Broker to give you the fees charged for every investment in writing; email is fine. You will be surprised how much you are paying for the investments. You may be more surprise to find out that Ameriprise is making more on your investments that you are. Check it out!

by ron,  6/12/2020

Pros:  Very friendly and I can call him anytime I want.

Cons:  Fees might be a little high.

Review:  Not making as much as I would like,but who is?

by John Tappan,  5/27/2020

Pros:  Focus strongly on Ameriprise's values

Cons:  Can vary based on educational background of advisor

Review:  Ameriprise Financial is a top company with a strong mission statement: "To help people feel confident about their financial future". The proof in their success is the high approval rating on its client - 4.5 out of 5. The financial advisors are well trained and skilled in making people feel better about the poor performance of their portfolio. This is only achieved by building a trust relationship. This advisor-client trust is key to the continuance of the business relationship. What other company would be able to maintain a relationship where almost all of its clients have no idea how much they are paying in investment fees and maintenance charges. In our current economic times Ameriprise has been able to advise clients where to invest their money so that money is always made for Ameriprise. All financial markets are down and many clients took a serious hit. The proof that Ameriprise Financial is the best is that most people will stay with them even though they are loosing money every single day. They can always say that they "feel confident" about their financial future with Ameriprise.

by Jim Cracchiolo,  5/17/2020

Pros:  Ameriprise compensates its leaders well

Cons:  None

Review:  Ameriprise is a great place to work. Its staff of financial advisors are well compensated despite having limited financial knowledge. It is great to be able to make money, i.e. 24 mil/year in an economy where all client are loosing their shirts. God Bless America

by Sonny Jenkins,  3/20/2020

Pros:  None at all

Cons:  Just looking out for themself

Review:  As I am loosing money in the CO-19 Virus market decline, my broker and Ameriprise are still making high commissions and charging excessive fees. For them it is a win- win.

by David Byron,  2/28/2020

Pros:  I got nothing

Cons:  Too many to list here

Review:  In a down market like we have now, your investments may drop up to 10% due to stocks dropping. Ameriprise, however, continues to charge you regular account fees, expenses and commissions in some cases up to 5%. They charge you whether your account goes up or it goes down. Nice to pay to loose money, isn't it? The fees they charge are up to 10 times what is charged by other investment companies such as Fidelity. Get out of Ameriprise as soon as you can!

by David Byron,  2/28/2020

Pros:  I got nothing

Cons:  Too many to list here

Review:  In a down market like we have now, your investments may drop up to 10% due to stocks dropping. Ameriprise, however, continues to charge you regular account fees, expenses and commissions in some cases up to 5%. They charge you whether your account goes up or it goes down. Nice to pay to loose money, isn't it? The fees they charge are up to 10 times what is charged by other investment companies such as Fidelity. Get out of Ameriprise as soon as you can!

by William,  2/18/2020

Pros:  Professionals at making money for themselves - at your expense

Cons:  Yes. They are cons

Review:  My widowed mother has been invested with them and has had the same adviser since 1990.

Two years ago, I asked if I could see her documentation from Ameriprise and was shocked to find that she was within two years of being broke! I requested the last three years of her records and found out why - sky high fees and mismangement that led to constant underperformance. In addition, her financial plan was so totally inaccurate, it was criminal - missing accounts, unrealistic projections, wrong account balances, nonexistent categories, even had her age wrong. Over the years, he had sold her annuities and was raiding those to keep his AUM commissions high. Plus annual fees for 'consultation' and additional fees to place her in load funds which were churned every three months. All tolled, her fees and commissions were between 2.5% and 3.5% annually. Since her account earned less than 5% annually this meant that Ameriprise took out over half of her income for themselves. Just totally disgusting and reprehensible.

I had a meeting with her adviser and pointed out the inaccuracies and inconsistencies. He told me I was wrong and I produced the document he had prepared himself and asked him to show me where the missing accounts were. He couldn't find them, but looked me in the eye and said 'trust me' they're in there. Yeah, sure they are, that's why you can't find them.

The last straw was when I looked at what her results would be if, instead of trusting her money with Ameriprise, she had placed the money in a balanced fund with Vanguard or Fidelity and had taken the same distributions over the last 17 years. Her account balances in either case would have exceeded one million dollars! Instead she was nearly broke. I convinced her to terminate the relationship and I now send her money to live on.

So if you decide to place your money with these crooks, instead of feeling secure at 85, be prepared to go on public assistance and eat dog food. How they are permitted to continue this practice legally is beyond me.

by Anthony Scarmonti,  1/24/2020

Pros:  nothing here

Cons:  Too many to list

Review:  Please read all the reviews listed here before deciding to use Ameriprise Financial Services. They tell a real story of their performance and ethical philosophy. Encourage current Ameriprise clients to list your opinion of their services honestly and for the benefit of potential Ameriprise clients.

by Justin Morrow,  1/15/2020

Pros:  No positives to Ameriprise

Cons:  Trained to sell you products that make money for themselves, your benefit is secondary

Review:  Stay away from Ameriprise Financial Services. If you make any money it is by chance and not by any skill they provide. Better off investing directly with low fee diversified stock funds. Fees are about 1/10 what Ameriprise will charge you.
If you decide to use Ameriprise, "may God be with you".

by Ron Stief,  1/10/2020

Pros:  Very good at talking around your account poor performance.

Cons:  Look at client as way to make money for themselves not the other way around.

Review:  Pick investments and funds that give them the most money in fees and expenses. Try to sell you investments from RiverSource which is part of Ameriprise. Fees are high and self serving to Ameriprise. Recommend you compare Ameriprise fees with other investment companies. You will be surprised how high Ameriprises fees are compared to others.

by Sandy Perlman,  1/4/2020

Pros:  Absolutely nothing

Cons:  Ameriprise is not a fiduciary company. This means that they are not required to advise what is best for you but instead advise on what gives them the biggest fees and commission.

Review:  1. If you are using Ameriprise ask your advisor for a list of all fees associated with you investments.
2. Compare the fees with other investments such as Fidelity
3. Take charge of the periodic meetings by asking tough questions about each investment. Don't let the advisor control your periodic meeting as he/she will spin you in circles.
4. Ask yourself, why do I need these people (Ameriprise) to invest my hard earned money. I could do much, much, much better going direct with Fidelity or other service.
5. If you currently use Ameriprise, compare each of your investments with fees against what you could have made with Fidelity investment or similar. You will be surprised how your Ameriprise investments make "unimpressive" gains but charge you several percentage points for fees and account maintenance costs.
6. Do yourself a favor and really investigate/compare with other companies. Your Ameriprise advisor will not come out and tell you how much you are loosing. They will hide reality with words and numbers making you think they know what they are doing.

by Andrew,  12/31/2019

Pros:  Smiles while screwing you

Cons:  Smiles while screwing you

Review:  Fees up the arse
Ginger Ewing put us in CNL reit illegally
Lost thousands
Stay away

by Jonathon Stolzfus,  12/27/2019

Pros:  They do meet regularly with you and review things

Cons:  Not fiduciary advisors; they look ar your investments as a way to make themselves more money not you.

Review:  Ameriprise pushes complicated variable annuities that have super high fees and costs. All giving them more money and you less. If you want to test your advisor, ask him/her to give you in writing the fees/costs associated with each of your investment. They will talk up a storm about the "value" of the fee but not the reality that you are paying more for a basic investment. Truth is that you can get more from dealing direct with Fidelity, Vanguard or other major investment firm. Ameriprise fees are several percentage points above Fidelity or Vanguard funds. This can amount to a serious loss to you investment over time.
They also will try to sell you a Reit boasting its long term benefit to your portfolio. Truth is that Reits pay the most to Ameriprise and for you almost no payback. In fact you may find yourself in a position where you are stuck with the Reit and cant even sell it due to the complex restrictions.
Also stay away from any insurance they try to sell you. The fees will eat you up and by your advisor a new boat.

by Ted,  11/1/2019

Pros:  nothing I can think of

Cons:  nickle and diming my account.

Review:  I have had a brokerage account for some 12 years. It was recently with a firm called IPI and they apparently sold or transferred the account to Ameriprise. Prior to IPI it was with another broker attached to my local bank and the bank changed brokers to IPI. Anyway, I had established this account about 12 years ago and about 10 years ago I set it up so that I would get $2000. draws each month deposited to my checking account. About a year ago Ameriprise took over the account and I have had nothing but trouble since. First, they didn't continue the $2,000. draws. I noticed about 2 months in that I was only getting $1500. deposited to my checking account. I called and was told that they would take care of it and then I got a notice that they had sold another $500. to complete the $2,000 draw, but they charged me a $6 transaction fee. I had never been charged such fees before and so I called about it and was told that it was because I had made a 'special sales request' when I had asked them to fund the regular and normal $2,000. I was assured that the fee wouldn't be on any future sales so long as they were a part of the regularly scheduled $2,000 draw. Well, guess what, I just happened to be looking at my statement and I'm still getting charged and they're trying to tell me now that some of these sales are not a part of my regular draw sales. I clearly explained that I have never, ever, ever requested any stock sales other than what my broker picks to sell to fund my $2,000 draw. Anyway, Ameriprise, for whatever reasons they'd like to claim is the problem, has not continued the good service that I've gotten for the past 12 years with my account.

I would not recommend them as a broker. Their service doesn't seem to come up to the standards I've received from other brokerage firms. Their customer service is abysmal.

by Sharon Davis,  6/19/2019

Pros: 

Cons: 

Review:  I have spent over 3 hours of cell time on the phone with all different departments with different employees and cannot get help.
Had I known it would have been this much trouble and HASTLE I would never have let them handle my accounts. Very disgusted!! I would not recommend this financial institution.AT ALL!!!

by Niles,  5/14/2019

Pros: 

Cons:  Clunky website - not great returns

Review:  I have 1% of my total retirement income invested with Ameriprise - and apparently that is 1% too much. I have *never* had as many problems with my other retirement accounts simply navigating the websites or transferring funds into my accounts. I am constantly locked out and then have to go through the automated phone option hell to try and get things resolved. Returns on my accounts have been nominal. I would rather skip all of this hassle and go with another firm.

by John B,  3/23/2019

Pros:  Some local brokers are OK.

Cons:  Mine never contacted me except to meet their minimum regulatory requirements.

Review:  I tried to close my account; Three times I submitted exactly what they asked for. I got "rejected" twice; the third time, they just ignored me. I have had to hire legal counsel to sue them to get my money out. Stay away.

by jckiowa,  3/15/2019

Pros:  None

Cons:  They failed to file properly with IRS, so we got a 39,000 tax bill!

Review:  In 2015 we consolidated all of our retirement accounts with one firm. No problems, until we tried to rollover our Ameriprise IRA. Took months of form filling, phone calls, their irrational demands for certain signatures, etc. Our new firm kept at them, and we finally received our funds. Thought we were finished with them until last December, 2018,, when we received a tax notice from the IRS for $39,000! Turns out Ameriprise had incorrectly filed the information with the IRS, and they thought we had cashed in the IRA rather than rolling it over. Luckily our new management firm had all the paperwork, which we submitted to the IRS. It took until last week to get an "all clear" from the IRS. Imagine getting a bill like that two days before Christmas!
Do not invest a dime with these inept people. Reading these complaints should be fair warning. If the company you work for employs them to manage your retirement funds, demand a change or an alternate firm.

by Nadia,  3/7/2019

Pros:  Friendly and available

Cons:  Bad or no advice, sold me inappropriate products

Review:  High fees for a one time financial plan that was not appropriate - was new to investment at the time and that’s why I had hired them
Bad advice for mutual funds that ended up losing me money
High annual fees and $250 dollar closing fee!!
I’ll never come back this was horrible

by DM2060,  2/19/2019

Pros:  My Financial advisor always returned my calls within hours. 24 call return was rare. I never had a problem. I always dealt with the same person.

Cons: 

Review:  Ameriprise Financial did not always have the biggest returns. The last 10 years were a rough time to move ahead with investments. I found slow positive movement even during the market crash in the 2008-2009 period. Whether I could have done better could have depended on educating myself with different investment vehicles, costs etc. JD Power rates Ameriprise # 12, not too impressive and I will seriously consider other options, But I haven't had the negative experiences other customers have had.

by Tim O,  2/18/2019

Pros:  None, I'd have them given zero stars if it were an option

Cons:  Recomend high cost investments, Significantly below market gains in great years, Significantly above market loses in bad years, Invest with their fees in mind, not investment return or the client, Excessive closure fees, but hey I'm done with them

Review:  Stay away from Ameriprise unless you need to either lose money or make way less investment return than the rest of the world. Out of 3 brokers spanning 15 years, only one was a decent advisor, the other two were in it to win it for their wallets. Yes I was with them way too long and no excuse but laziness on my part. Don't make my mistake!!!

by Gail Rosen,  2/12/2019

Pros:  NONE

Cons:  Broker Gavin Bobo sold my elderly mother annuities inside of her IRA, whicih is not advisable. Did not explain to her what they were and used high pressure sales tactics. He has since been fired from PNC.

Review:  Broker Gavin Bobo sold my elderly mother annuity products inside of her IRA. She did not understand what he was selling her. He did not explain to her what they were and used high pressure sales tactics. He has since been fired from PNC.


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Introduction to Ameriprise Financial

Ameriprise Financial, founded in 1894, has a rich history of providing financial services and guidance to clients across the United States and internationally. Over the years, the company has evolved into a prominent wealth management firm, offering a wide range of services, including financial planning, investment management, insurance, retirement planning, and estate planning. This comprehensive review will delve into various aspects of Ameriprise Financial, including its services, performance, client satisfaction, and overall reputation within the financial industry.


Ameriprise Financial Services Overview

Ameriprise Financial offers a diverse array of services tailored to meet the individual needs and goals of its clients. These services can be broadly categorized into the following areas:

1. Financial Planning: Ameriprise Financial takes a holistic approach to financial planning, helping clients identify their financial goals, create a roadmap for achieving them, and navigate life's financial challenges. This includes retirement planning, education planning, tax planning, estate planning, and cash flow management.

2. Investment Management: The firm provides investment management services designed to help clients grow and preserve their wealth over the long term. Ameriprise offers a variety of investment options, including mutual funds, exchange-traded funds (ETFs), separately managed accounts, and alternative investments.

3. Insurance Solutions: Ameriprise Financial offers a range of insurance products to help clients protect their assets and loved ones. This includes life insurance, disability insurance, long-term care insurance, and annuities.

4. Retirement Planning: Ameriprise helps clients plan for retirement by developing customized retirement strategies tailored to their unique needs and circumstances. This includes retirement income planning, Social Security optimization, and distribution planning.

5. Estate Planning: The firm assists clients in creating estate plans that ensure their assets are transferred according to their wishes and minimize estate taxes and probate costs. This includes wills, trusts, beneficiary designations, and charitable giving strategies.


Performance and Track Record

Ameriprise Financial has a solid track record of delivering value to its clients through personalized advice, disciplined investment management, and comprehensive financial planning. The firm's investment professionals leverage a combination of fundamental research, quantitative analysis, and risk management techniques to construct diversified portfolios designed to achieve clients' financial goals while managing risk effectively. While past performance is not indicative of future results, Ameriprise's commitment to investment excellence and client satisfaction has earned it a favorable reputation within the industry.


Client Satisfaction and Reputation

Client satisfaction is paramount at Ameriprise Financial, and the firm prides itself on delivering exceptional service and support to its clients. Ameriprise's financial advisors work closely with clients to understand their needs, goals, and concerns, and develop personalized strategies to help them achieve financial success. The firm's commitment to transparency, integrity, and professionalism has earned it high marks from clients and industry peers alike, with many clients praising Ameriprise for its knowledgeable advisors, comprehensive services, and attentive customer service.


Technology and Innovation

Ameriprise Financial is committed to leveraging technology and innovation to enhance the client experience and streamline operations. The firm offers a suite of digital tools and resources designed to help clients manage their finances more effectively and stay connected with their advisors. This includes online account access, mobile apps, financial planning software, and interactive educational resources. By embracing technology, Ameriprise aims to make financial planning and investment management more accessible, efficient, and convenient for clients.


Community Engagement and Corporate Social Responsibility

Ameriprise Financial is dedicated to giving back to the communities it serves through philanthropy, volunteerism, and corporate social responsibility initiatives. The firm supports a variety of charitable organizations and causes, including education, healthcare, environmental conservation, and social services. Ameriprise encourages its employees to volunteer their time and talents to make a positive impact in their communities, and the firm matches employee donations to eligible nonprofits. Through its commitment to corporate social responsibility, Ameriprise strives to make a meaningful difference in the world beyond finance.


Conclusion: Partnering for Financial Success

In conclusion, Ameriprise Financial is a leading wealth management firm known for its comprehensive services, personalized advice, and commitment to client satisfaction. With a strong track record of performance, a solid reputation within the industry, and a dedication to innovation and social responsibility, Ameriprise is well-positioned to help clients achieve their financial goals and secure their financial futures. Whether clients are planning for retirement, saving for their children's education, or preserving their wealth for future generations, Ameriprise offers the expertise, resources, and support they need to succeed. As a trusted partner in financial planning and investment management, Ameriprise Financial stands ready to help clients navigate life's financial challenges and achieve their dreams.


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