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Ameriprise Financial

Ameriprise Financial
Overall Satisfaction Rating 3.78/5
  • 5 stars
    77
  • 4 stars
    78
  • 3 stars
    55
  • 2 stars
    27
  • 1 stars
    10
Based on 247 ratings submitted in the last year

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Ameriprise offers a wide variety of financial products, including investment, retirement, insurance and banking options. The company operates nationwide, with local agents available to take your call and offer financial guidance on more than just investments. Ameriprise also provides educational resources on its website, like market insights and financial calculators.

BOTTOM LINE

Ameriprise Financial is an established company that offers banking, cash management, insurance and investments. However, some may be leery due to its its non-fiduciary staff and negative news coverage.

PROS
  • Personalized service
  • Online account management
  • Variety of investment products
  • Advisors across the U.S.
CONS
  • Unclear advisor fees
  • Advisors aren’t all fiduciaries

Top Ameriprise Financial Reviews We Found

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Rated with 5 stars
Verified Reviewer

My advisor, Gerard **, took over my older brother's accounts years ago at my suggestion and improved his position enough to ensure my brother would be financial secure for the rest of his life. ... I also am without worry.

Read full review
Rated with 5 stars
Verified Reviewer

They are an amazing company who make you feel welcome, taken care of and comfortable. They are also always polite, know their products and get information to you quickly and accurately. Their rates are good as well.

Read full review

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    What is Ameriprise?

    Ameriprise is a global financial services firm offering financial planning, insurance and investments. It has advisors across the country who give personalized financial and investment advice. Ameriprise can help with a number of financial goals, including:

    • Retirement
    • Investing
    • Planning for education
    • Personal finance
    • Insurance and annuities

    You can get in-depth financial advice for almost all aspects of your life, including specific advice for achieving a particular goal. You also get to choose whether you’re involved in managing your account or whether it’s entirely managed for you.

    Ameriprise’s advisors offer:

    • Investment strategies, including stocks, bonds, mutual funds and other structured products
    • Insurance policies, including life, disability, income, auto and home insurance
    • Banking and cash management, including Ameriprise certificates, trusts and other lending solutions
    • Retirement accounts, including IRAs, Roth IRAs, SIMPLE IRAs, SEP IRA, 401(k)s and 403(b)s

    How does Ameriprise work?

    With Ameriprise Financial, you get a dedicated financial advisor to help you meet your financial goals. The firm uses many types of investment strategies and offers various programs and products so that you can decide how to invest your money.

    In addition to Ameriprise’s investment guidance and solutions for brokerage accounts, insurance and annuities, you can receive financial advice for:

    • Budgeting and cash flow
    • Education savings
    • Tax strategies
    • Retirement savings
    • Small business planning strategies
    • Estate planning strategies

    Advisors provide personalized recommendations for investments, asset allocation and other portfolio advice. They also track the progress of your goals and meet with you regularly to keep you up to date. As you progress, you and your advisor can readjust your goals.

    You can also monitor your financial situation by tracking investments, accessing accounts, tracking goal progress and sharing information with your advisor. Ameriprise provides offline methods of contact as well, including over-the-phone and in-person services.

    Ameriprise fees

    With Ameriprise Financial, your initial consultation with a financial advisor is free. Fees for follow-up consultations aren’t listed online because services are tailored to your needs and chosen options.

    The fees Ameriprise lists on its website include:

    • Annual account maintenance and custodial fees between $10 and $100
    • A $39.95 fee per no-load mutual fund
    • Legal transfer fees of $30

    Ameriprise may waive account maintenance and custodial fees if certain conditions are met.

    Ameriprise FAQ

    Does Ameriprise Financial have local agents?
    Yes. You can find local advisors on the company’s website by searching for your ZIP code or city.
    Where is Ameriprise Financial available?
    Ameriprise Financial is available across the United States and internationally. The company’s digital tools allow you to access your accounts from almost anywhere, and there is also a nationwide network of advisors. The company’s headquarters are located in Minneapolis, but it also has offices in Boston, New York, India and London.
    Are Ameriprise’s fees high?
    Ameriprise doesn’t disclose all of its fees online, so it’s hard to say. We’ve included some of its listed fees in the above section, but it’s still important to check with your advisor to know what specific costs to expect.
    Is Ameriprise a pyramid scheme?
    Ameriprise is a legitimate company that does not appear to operate as a pyramid scheme at the time of publishing. The company has received news coverage related to multiple Ponzi schemes within the company, but these incidents do not appear to be ongoing or inherent to Ameriprise’s business model.

    Is Ameriprise good?

    In general, Ameriprise Financial is a good company. It offers a variety of services, including banking and investing. You have a say in how involved your advisors are, and you can handle your accounts both online and offline. Ameriprise’s controversial past and shortage of fiduciaries make it hard to recommend the company as a first choice, though.

    Ameriprise Financial Reviews

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    How do I know I can trust these reviews about Ameriprise Financial?
    How do I know I can trust these reviews about Ameriprise?
    • 3,106,878 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 5 stars
    profile pic of the author
    Verified Reviewer
    Original review: Dec. 4, 2020

    We recently moved our investments from Merrill Lynch and we couldn't be happier. The attention to detail and concern about each account no matter how large or small is exceptional. It was a big decision to move our portfolio to this company, but given the recent election and unstable economy, I thing we are much better off with Ameriprise.

    7 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: Nov. 21, 2020

    My advisor, Gerard **, took over my older brother's accounts years ago at my suggestion and improved his position enough to ensure my brother would be financial secure for the rest of his life. My assets were extremely small, but Gerard graciously agreed to handle them for me and today, I also am without worry.

    3 people found this review helpful

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      Rated with 5 stars
      Verified Reviewer
      Original review: Nov. 20, 2020

      I have been with Ameriprise for almost 10 years. I have easy contact with my advisor whenever I have a question or I need to make a change in my portfolio. I have an advisory account where it is managed for a few and a brokerage account that has my individual holdings.

      Be the first one to find this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Aug. 3, 2020

      Reasonable rates and great coverage. Love the service we get, can always talk to representatives and they are really helpful and know most all answers!!! When you have a claim it is resolved in a timely matter and minimal paperwork!

      3 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: April 6, 2021

      Through my school district, I signed up for a 403b through Ameriprise. When I went to another school district they used a different company. With the help of that agent while on the phone with an Ameriprise agent, we filled out paperwork to roll the funds from Ameriprise over to the other 403b. When the paperwork was faxed Ameriprise refused to release the funds. We tried again while on the phone with Ameriprise. Again Ameriprise refused to release funds. Every appt with an agent to invest the money deposited was cancelled by Ameriprise. For five years they held onto my money without investing and refusing to release the funds.

      5 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Feb. 22, 2021

      We were with Ameriprise Financial for over 5+ years and decided to change financial advisors and institutions. I just received my last Portfolio statement from Ameriprise and had a $125 "termination fee" listed. And if that wasn't bad enough... Reading through my statement, I find that they hit me with this $125 fee PER ACCOUNT. We had 5 accounts. They charged us $600 in total as a "termination fee". Funny...I don't recall RECEIVING $600 as a "joining bonus", so I find this fee preposterous and unprofessional.

      You would think that after a 5+ year relationship; and advisor fees to match; they might waive the fee, no? Nope. If our new advisor that we just moved to doesn't work out, at least I know who we WON'T be going back to. Ever. I plan to let all family and friends know of this preposterous fee and to stay away from Ameriprise. I'm sure I will get a response back from them here on this site; something to the extent of "these are industry standard fees", or "we align with all other institutions on our fees", etc, etc, etc, but come on. Be a LEADER, not a follower. Remove the termination fees. Watch other institutions follow your lead. Then, get more customers, and get more POSITIVE word of mouth feedback.

      13 people found this review helpful
      Rated with 3 stars
      profile pic of the author
      Verified Reviewer
      Original review: Nov. 19, 2020

      Very customer friendly. Take the time to sit down with an uninformed consumer to explain the pit falls on investing. Along with the customer devise a plan the will avoid the most risk with the best return.

      2 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Oct. 9, 2020

      I have this credit card and I think they take advantage of people on balance transfers. I applied for a balance transfer 0%, but I had to pay an upfront fee (percentage). I have been paying it off and also any current charges. They charge me interest each month, even though I pay the bill in full, except for the balance transfer. According to the Presidents minion the small print says that you have to pay the entire balance off to avoid any interest charges, but the interest is only charged on what the new charges are, this makes no sense, but according to the small print it entitles them to charge this extra interest. They need to be clear, bold print, or something, to make the SMALL print clear.

      6 people found this review helpful
      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 28, 2020

      I was very dissatisfied with my financial advisor (Eric **) with Ameriprise. He required yearly reviews of our portfolio performance, but it was all smoke and mirrors. The stocks were not watched and those that should have been sold were not. Money was lost. Brokerage fees were high so he got his money every month (for doing little to maintain a profit). When I retired, I was sold an annuity (Riversource), that had a seven year maturity date. This annuity had 35% fees year after year. It finally matured and I transferred my money out as soon as I could. After retirement, I took more of an interest and have learned about how to invest. I finally transferred my entire IRA and Roth to a Merrill Edge self directed portfolio. Since its inception, I’m up 34%. I have read that Ameriprise sells products that benefit the broker. How true! Beware!

      23 people found this review helpful
      Rated with 1 star
      profile pic of the author
      Verified Reviewer
      Original review: Aug. 5, 2020

      The stockbroker sold me a retirement annuity which I put into a S&P 500 fund. The broker did not listen to me in numerous phone calls to keep my money in the index funds. He watched the annuity lose a third of my money before it put me into a money market fund. He let them keep it in the MM while the stock market was recovering. I was probably the only person who lost money in the stock market. The stockbroker only collected his fees and did not look out for my interests.

      11 people found this review helpful
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      Ameriprise Financial Company Information

      Company Name:
      Ameriprise
      Year Founded:
      1894
      Address:
      3500 Packerland Drive
      City:
      De Pere
      State/Province:
      WI
      Postal Code:
      54115-9070
      Website:
      www.ameriprise.com