Consumer Complaints & Reviews
I have had Costco Ameriprise auto insurance for several years. In April 2016 I revised the auto insurance on three cars. Only one car is mostly used, while others are used occasionally. I told the truth by saying my son buys toilet paper and scott towels for his Dad's machine shop. His father has a heart condition. Machine shop is barely functioning. So my son is helping and also buys food for his Dad to take home. In July 2016 received a letter saying that my auto insurance was dropped since toilet paper and scott towels are considered hazard material. It seems okay to buy for home only. I called Ameriprise and was told I will be cancelled as of September 6th. What is wrong with this picture?
I've had the same financial advisor for many years. He recently moved from Wells Fargo to Ameriprise and my small account went with him. I am very, VERY unhappy with Ameriprise. For example: I read about a company which was developing a product in which I was interested. I asked my advisor to purchase some stock for me. I THOUGHT he said it would cost $15 for the transaction but I sent extra money in case the stock increased in price before the check got to him. Imagine my surprise when I got the transaction receipt. I had purchased $150 worth of stock but was charge $50, not $15, plus a $6 "Handling Fee." I am now looking for a new company and WILL NEVER RECOMMEND AMERIPRISE FINANCIAL SERVICES TO ANYONE!
I have been insured with different auto insurance companies for the last 20 yrs. Never ever had premium increase after BEING 5 months WITH PROVIDER. THAT COMPANY JACKED UP MY NEXT TERM PREMIUM UP TO 29.4% WITH ABSOLUTELY NO REASON. I called customer service and they told me, due to their losses, advertising, blah blah blah, etc, they had to increase premiums mostly for CA drivers!!!??? I told them, they had to disclose it when I sign up with them 5 months ago...otherwise it is a fraudulent business you guys are in. Looking for people in my situation to file a class action lawsuit. Any advise would be helpful.
At the end of a lengthy phone interview representative asked if my car had any damage. I said maybe 1 or 2 small parking lot dings. He replied "We don't insure damaged vehicles."
I had been with Ameriprise for several months when we decided to sell one of our vehicles. Upon informing Ameriprise, they told us that the remaining vehicle would cost us way over twice the amount it would cost to cover two vehicles. So... dropping one vehicle our new bill was $51 dollars more than the previous two vehicles. This is simply unconscionable business practice.
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My mother had a policy for extended health care coverage for 28 years. Without our family knowing she began developing dementia and forgot to make premium payments. Once it became clear that she had this my sister in law (POA) began the process of getting her reinstated. All requested documentation has been provided, several times. Each time info is sent the company comes back with a request for more --- of data that has already been given! 28 years of carrying a policy which is now being denied because of the condition it was meant to cover. The account advisor has stonewalled and refused to provide further information (in re: the case manager's contact numbers) stating that customers are not allowed this. This has gone on for over 2 months with no resolution.
Went with this company 1.5 years ago after they solicited me through the brand of auto I bought (Ford). Save me a few bucks, was appreciated. Then I had to make a temporary move from CA to PA. Informed them of the move. They told me I would need to register the cars in PA in order to have coverage. I would have had to obtain a PA license to do that, and I would need to become a PA resident to do that. I am a CA resident and plan to remain so, I told them. Asked if there was any other way? A few weeks later I receive a letter in the mail informing me I was dropped. I've had no accidents, no citations, not even a parking ticket. One must wonder how this company honors claims if they do this kind of treatment to spotless policy holders for no reason. The location I moved from had 10X the auto theft rate as the one I moved to.
Please stay away from this insurance company. I received a letter from Costco about Ameriprise Home insurance. I called them and they gave me a reasonable quote that was a little cheaper than the actual one I signed up with when I purchased my home a year ago. An inspector called me about 10 times trying to reschedule because either you accommodate the time for him or he does not come. Most often he would call me after 8 pm. What kind of service calls that late? Anyways, when he came he took some pictures of the house, and in about two weeks Ameriprise sent me a cancellation notice stating that I have some moss on my roof and trees around the house which is a hazard and therefore they are giving me a month to find another company.
I was shocked because Farmers never came to do an inspection, and even if they did I am sure if this was an issue they would have told me to correct it within a time frame. But this company just sent the cancellation notice. Now when I tried to go back with Farmers, they wanted to give me a new quote for the actual rate which is higher. I ended up going with GEICO. They beat both companies and the inspector didn't make any comments about the "Hazards" that Ameriprise claimed.
I bought stock with the company I work for in 1997. Ameriprise has held onto the stocks since then. I recently retired and upon review discovered that they charge me quarterly fees to hold my 500 shares of stock. I called to have them send me my stock certificates and close my account in December 2015. Upon receiving a recent statement I have discovered that they kept $127 in cash assets and continue to charge me quarterly fees to maintain this small cash amount.
I have never received my stock certificates as I originally instructed the advisor. They simply transferred the stocks to a holding company without notifying me as to where my stock is currently being held. I called Ameriprise to cancel the entire account and send me the cash amount that they have held onto. I was then told that there is a $100 cancellation fee in order to close out the account. Ameriprise Financial is taking money from their customers daily and getting away with it! BUYER BEWARE, Ameriprise Financial does nothing for their customers, they are not acting as fiduciaries.
STAY AWAY FROM THIS COMPANY!!! Set up online preferences and tried to wire $. They said it would take 1 week on the day it was supposed to happen. A woman from Ameriprise called to verify info. I thought that meant everything was going to happen but NO!!! No wire transfer done AND there was nothing online that showed I tried to wire the money!!! What happened then??? Called to speak to representative who told me it would take another 5 days unless I filled out and faxed some form. She said she was going to email the form this morning. Still NO form in my inbox!!! I have been waiting 3 hours for this damn form! I AM DONE WITH THIS COMPANY! I am closing the account today! Stick it Ameriprise, you are a horrible company with horrible service and I'm taking my money!!!
Large account with them. My advisor! Hah, lost 6 figure in less than 9 months. Fired him. Just discovered they have been billing me since July for his services. Still no return on calls. I NOT once got a portfolio review. My own fault. They are NOT GOOD.
My advice is to stay away. When you first meet with Ameriprise, they make you feel like there will be a team of people working on your account. During my initial meeting, there were 4-5 people from Ameriprise. Your advisor lays out a calendar of quarterly touch points, two in person, two over the phone. Aside from our initial meeting, I never saw my advisor in person. And last year, he called me once at the end of December. But the main reason I left is because I was paying high fees to have no one watch my money. Between fees and bad advice, I would have been better off keeping my money in a no interest savings account. The kicker is when you leave, they charge high termination and transfer fees on your account. Someone was making money on my account, but it was not me. Unfortunately, after surfing around the internet, my experience with Ameriprise is not unique.
Changes to the web does not show up real time, it takes 24 hrs. No confirmation email is sent either. Surprisingly, I have been charged monthly installment charges for the past few months since they mentioned that the service was changed to monthly though I have received no confirmation. They have refused to refund the charges.
I would not recommend using Ameriprise. They do not look out for the interest of their clients, only themselves. They do little work, have high expense fees, have difficult paperwork to fill out, and are hard to work with. They sold us a RiverSource annuity that is worth less than when we purchased it. There are plenty of hidden fees in this annuity. Now we are stuck with this annuity. His name is Matt **. Don't use him. He does not inform you of what he is doing. Charged us an expense ratio of 1.25% on other investments. Fidelity charges .8%. I am in the process of liquidating all investments with these people. Like I said, there is plenty of complicated paperwork. But I am done with them.
My accident was on December 3rd, 2015. I still have not had the internal inspection I requested done. Trying to get a hold of my agent (Joe ** from Arizona) has been a joke. He is apparently out of the office 3 days a week and can't be bothered to return my calls in a timely manner. I have to ask THEM what is going on. They are poor communicators and I am so displeased with how long this process has been.
Unethical, horrible customer service and total rip off. Worst company ever, they start you with low premium and then start raising up more and more. They'll find all the excuses to collect more money from you. Prepare yourself to deal with the rudest customer service ever if you get in an accident and do all the work on top of that. Bad reputation well deserved.
Their insured made an illegal left turn from a strip center and struck my stopped truck. Ameriprise said I should have honked my horn to avoid the accident. It happened so fast that there is no way I could have honked. It took about a second from the time he start until impact. Furthermore, honking my horn is a moot point because he could not have moved his foot from the accelerator to the brake fast enough to avoid the collision. So who is going to pay the other 20%? The insured, of course. I'm meeting with my attorney this afternoon. Are you sure you want to be insured by Ameriprise? I don't!!!
I wish I could rate Ameriprise lower, but I am not given the option. I recently started trying to put away money in an Ameriprise account. I barely make enough money to pay my bills each month. As it is so I was happy at the end of the year to have had been able to at least have a $100 ending balance in my Ameriprise account. However, when I got my annual statement I saw a Quarterly charge for $12.50 bringing my account down to $87.50. The charge was labeled as a maintenance fee which I thought was strange because I hadn't used any Ameriprise services. I was basically just using the account as a savings account. So I called Ameriprise to find out what this quarterly charge consisted of. I was told that this charge was for them sending me my statements and tax forms at the end of the year, which are pretty standard and are given for free at most financial institutions.
This was the first thing that upset me, basically Ameriprise wants to charge me $50 a year ($12.50 a quarter) to send standard statements and tax forms. This is more than half of my $87.50 balance!!! After being told that these quarterly fees would not be waived and would continue to be assessed to my account I felt that it didn't make any sense to keep the account open. I then asked to close the account thinking they would just give me my remaining $87.50 and that would be the end of it, nope, I was wrong. They said they could close the account for me, but that they would have to charge me $100 to close it. This was more than I even had left in my account!!!
They said since I only have a remaining balance of $87.50, my only options are to let the account erode to $0 from the $12.50 quarterly fees or to let them close it and take my remaining $87.50 for the closing fee. I could not believe it!!! I know for most people this is a small amount of money, but for me it was a lot and it's hard enough to pay my bills each month let alone to put money away for savings. I cannot believe that institutions like this prey on low income account holders who are just trying to put away money and start a savings!!! I cannot even begin to explain how upset and hurt I am. I hope others take a look at what fees are being assessed to their accounts and what closing costs there are so that they can avoid the loss I went through.
Worse auto claim experience ever. If I could give Ameriprise a lower rating, I would do it. Their drunk insured driver got arrested by the Glendale (CA) Police Department for DUI. She hit my parked automobile and was 100% at fault. Caused over $11,000 damages to my parked car. Caused over $8,000 other damages including damage to the Professional Keyboard in the Trunk, causing over $3,000 damage, Storage and Rental fees. It has been over 50 e-mail communications for this claim. They switch their Claim representatives, and delay the process. It is over 4 months from the date of loss, and I have been unable to get anywhere. They will not talk on normal unrecorded line, knowing that it is against the law to record caller's conversation without his/her consent.
I have filed a complaint with the Department of Insurance to assist me with my settlement. I am not represented by an attorney, Ameriprise asks for so many unnecessary information including EIN for all vendors provided repair to my professional keyboard/auto rental/ Auto storage, and programming to my damaged professional keyboard. I had to send a demand via certified mail to their president, but they still claim that they are unable to locate some things including car rental invoice, although was sent to Ameriprise via e-mail. Probably the worst Auto Insurance. I understand that so many clients who were insured through Costco are complaining.
We had Ameriprise (Costco) as our auto and home insurance company for the last three years. They have competitive rate. They seemed like a great company till you need them, they almost doubled our rate after my wife had her first minor accident. Their customer service is one of the worst. Like I said they are great as long as taking your money, but when it's time to provide service and help with a claim you they are the worst.
In 2007 I had my money with what was then H&R later Ameriprise. In 2007 as a disabled veteran I needed to protect my life savings and when the market began its meltdown in 2008 I ordered "SELL!" The broker indirectly refused but and I began writing emails and phoning him! Not until I left Ameriprise did my losses stop! By then Ameriprise had lost 60% of all I had left to live on! When I filed a complaint the battalion of lawyers they hired tried to squash me like an ant! But I have news for them, I am going public about this criminal organization! It's not Wall Street, it's these white collar criminals! A new movie is about to be released better than "inside job" which shows the public how it looks from the crook's view!
Ameriprise employees working from home are putting clients at risk by client's accounts, SSN and personal information visible to friends and roommates. I contacted Ameriprise and nothing was done. They need to screen employees and conduct more audits.
I was hit in the back of my car and drove into another car. Ameriprise fixed the back of my car, but claims the damage on the front was done at another time. It is clearly stated and drawn in the police report with three cars in the accident. I file a complaint with NC Insurance commission. Pre-printed letter to work it out. Finally get in touch with an Attorney and tell him it will cost $400 to paint my front bumper and he tells me it is not worth it for that small amount to go to court. He says that the Insurance company lobbyist get the laws in their favor and the Insurance Commission has no authority. I have to pay for the painting of the front of my car with my money. Worst insurance company ever! Do not use!!
I had Ameriprise Auto since mid-2006. I had 3 claims with the company and only 1 positive outcome. I had hail damage a few years back and they sent out an adjuster. I was paid for the damages in a couple of week. Now here is where their system breaks down. I was rear ended February 2015. I waited for the police and got a police report. I was having back pains due to the impact. I called my adjuster 2-3 days a week to find out what was going on. They told me that they could not find the insurance carrier of the person that hit me. REALLY...you are an insurance company and cannot locate another insurance company.
I was told that I would have to claim my medical bills on my personal insurance and then they would pay 20% of my copay. Not even willing to pick up my side of the bills. This would have cost them far less than paying for the majority. So am currently dealing with back pain because my Auto Insurance Company failed at doing their job.
Then my wife was in Miami and struck on the front passenger side her new car in July of 2015. The police officer took the word of the other driver and my wife was cited for the accident. We fought the ticket and won. We were found not guilty of the accident. I then get a notice in the mail that they are canceling my policy because of an at-fault accident. I explained what happened and sent over the court ruling. They stated even though we were found not guilty, the police report said we were and that we were over 50% at fault. So it doesn't matter what the courts find, they do what they want. 10 years with a company and a police report gets my policy canceled. Their customer service is poor, policies are flawed, and I would not recommend anyone getting a policy with this company.
I had a rep in Fort Worth. They notified me that I was being transferred to the main office, no longer having a rep. Upon calling I was told I needed to make an appointment to speak to someone over the phone. The appointment was 2 1/2 weeks out. I was going to be traveling so I asked if we could expedite it. They were unable to do that. After calls repeatedly I asked them to cash my account and let it set there until I had a place to put it. I contacted a local credit union with a financial advisor. I asked Ameriprise to send the money to Texas Trust. They said I could not do that, only the Credit Union could make that request. So again we fill out the paperwork.The credit union sends the paperwork to Ameriprise.
Two weeks later nothing has happened so I called Ameriprise and asked when was the check mailed. They informed me that they were not allowed to tell me, the only person they would talk to would be the Credit Union. They told me to have the credit union contact the retention department. I asked for a phone number and they told me I did not need the number. If it was a legit request the credit union would have the number. So I called the Credit Union. They had no idea what was happening. They said they had no number for that department. Finally the credit union got through to Ameriprise and Ameriprise said the paperwork had not been stamped with a shield. No idea what that was but the credit union rep said she would talk to her supervisor and try to get them the proper paperwork.
Ameriprise contacted no one when the paperwork was not to their satisfaction. They refused to talk to me, it was ONLY MY MONEY. I have heard from others that many places like Ameriprise were cutting out personalized support if you did not have a large enough account. I am so angry and frustrated. Ameriprise. I have been with Ameriprise for quite a while. My account was transferred from H&R Block. They will never have any of my business again.
Ameriprise has been dishonest and completely unreasonable in regards to my Auto insurance policy. It can be terribly difficult to work with them because they don't truly listen, their customer service reps speak in a rude tone and very condescending manner, and they make statements about your account history that just aren't true. The company bombards you with tons of mail at times (duplicate letters), other times they don't send you letters they claim they sent, they only send paper policy cards, and they justify raising your rates or canceling your policy for no legitimate reason. Think twice before doing business with Ameriprise!
It's been almost a month when my husband was hit by a person that has an Ameriprise insurance. Clearly the person was at fault and this person even agreed that he was at fault. My husband was at the right of way and this person was merging onto the road. We have AAA as our auto insurance and went thru them to get out car fixed. Of course I had to pay my deductible but knew I would get it back since we weren't at fault. We received one call from Ameriprise asking for a statement. It took several weeks and phone call to finally reach someone from Ameriprise and they claim that it sounds like their client was not at fault. The impact on our car was on the right passenger side while their clients was on the front. The Ameriprise representative was rude and said that they will work on the claim.
Several weeks had gone by, AAA as well called us to get a status update and the person handling our case said the they have been untraceable and "out sick" and will come in just to specifically work on our case. A couple week later we get a letter from AAA stating that their Subrogation Dept is now handling out case and that they will attempt to recover my deductible and this process can take months. Ameriprise is a bunch of crooks that just drags their feet when they clearly know their client was at fault. Shame on them from running a business this way. And SHAME in Costco for offering their services. They are the most unethical company I ever came across. Ameriprise is one of the reason why we as American citizens get screwed. I'm paying so much for insurance. Ameriprise if you have any morals you should look at how you run your business. You are screwing a lot of hard working Americans!
Was a loyal Ameriprise customer for 17 years. Ameriprise took it upon themselves to cancel my Auto and Home insurance due to "inability to verify the policy info resulting from a divorce or separation", but if we get back together, Ameriprise will reinstate (but with evidence). So, when did Ameriprise "care" about marriage and how is this related to auto and home coverage since I had a "new" policy created (2 hours on the phone) when I separated from the wife. Loyalty is now out the window and recommend anyone who has Ameriprise to seek out another insurance provider.
I had auto insurance w/ Ameriprise since 2009. I had an international driver staying with us in around May 2015. I called them to put her in the policy temporarily until she gets her DL. They told me they need proof of her driver's license after 30 days. I was not trying to have her in my policy after 30 days so she was not using my car in any way. I learned that my insurance was not renewed after I had a collision last week. They denied my renewal in October 21, when she was no longer living with us and in no way was using my car. About 2 weeks before collision I spoke with my insurance regarding a different matter and no one said anything to me about non-renewal. They said they sent me a notice in August which I never received. Since the bill was on automatic payment I did not notice that they did not taken money out of my account.
I spoke to an honest attorney. He advised me not to waste my time and money on them because I probably lose the case. They are going to argue that they had sent out the notice and they don't care if I didn't get it. He told me it's a shame that Costco is representing them. They were a small company based in Wisconsin and they do their best to take the last dime from their customers and screw them when they need help. He also gave me free advice to get an auto insurance that has the word "MUTUAL" in its name and stay away from cheap insurance companies such as Ameriprise.
I set up an Ameriprise account in 2009. Shortly after my first couple meetings with my advisor she was fired. The new advisor contacted me to tell me this and bad mouthed her. When I tried for months to set meetings I never got a call returned. During this time I was also having multiple ortho surgeries and put on disability. I moved to another state in 2011. Tried and tried to reach advisor. Called main office who said they would make sure I'm contacted. I never was. So, I pulled all but $126.50. I was told it would be a $50 fee to close my account. I felt I shouldn't have to pay it because I had no communication from them, so I left the $126.50. I've had to date over 26 orthopaedic surgeries, so they were off my radar. My last surgery was 5/2015.
I called to cancel my account today and explained everything and requested they waive the $100 fee. Apparently it went up a few years ago. Naturally they don't care how poor my service was and that I'm on disability so that $100 is a lot of money to me. This is the worst company on customer service I have ever dealt with, and do not recommend them.
Barbara FriedbergPersonal Finance Contributing Editor
Barbara Friedberg, MBA, MS is a former investment portfolio manager with decades of financial experience. Friedberg taught Finance and Investments at several universities. Her work has been featured in U.S. News & World Report, Investopedia, Yahoo!Finance and many more publications.
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Ameriprise is one of America's oldest financial planning companies and was founded in 1894 by Jonathan Tappan in Minneapolis. Ameriprise is a network of approximately 10,000 financial advisors dedicated to helping the consumer realize their financial aspirations. The company has over $800 billion in assets under management and administration. Additionally, the firm has over two million individual, business and institutional clients.
- Services: The company offers a breadth of financial services including advice and wealth management and asset management, as well as annuities and protection. Ameriprise also offers personal trust services.
- Products: The company offers a variety of types of investments including stocks, bonds, mutual funds and exchange-traded funds through numerous types of accounts. Ameriprise integrates cash management products, certificates of deposit, lending solutions and credit cards as well. Their product line-up also includes insurance and annuity offerings.
- Educational and client resources: The Ameriprise Confident Retirement program helps investors gain security with their financial planning efforts. Their robust research and market insight portal includes research tools, market insights, financial articles, calculators and a tax center. Ameriprise claims to have more certified financial planners than any other firm.
- Best for Consumers looking for a dedicated financial planner, the newly wealthy, those experiencing household changes and the financially unsavvy will also benefit from Ameriprise.
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