Ameriprise Financial Reviews

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About Ameriprise Financial

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.

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

Featured Reviews

Huntington, New York
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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 res...

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Los Osos, CA
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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 accur...

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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.

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Ameriprise Financial Reviews

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    Customer ServiceCoverageStaffProcess

    Reviewed May 19, 2025

    Please read this as a cautionary tale to learn from my expensive mistakes. First off it is important to note that Divisha is not a CFP nor a CFA. The acronyms after her name are low level certifications that boil down to a handful of online credit hours. You would think this amounts to the adage, you get what you pay for. Sadly, this couldn’t be further from the truth.

    While most financial advisors charge 1%, Divisha charges her clients 1.5% coupled with a $200 per month “administrative fee.” Her certifications are focused on insurance so trust me, you will be sold expensive Universal Life Insurance policies where Divisha enjoys the benefits of giant up front advisor commissions, and you are left holding the bag paying on these policies for years to avoid the costly surrender charges. She has two complaints against her to the FINRA which include “client claims rep did not disclose surrender charges on annuities” and “the Variable Life Insurance Policy sold was unsuitable and consisted of large surrender charges.”

    In addition, unbeknownst to you, your money will be put into all types of products sold by RiverSource, a subsidiary of Ameriprise Financial. These companies scratch each other’s backs to the detriment of their clients. RiverSource puts more commissions in Divisha’s pocket, and clients are strapped with more unbearable surrender charges. To make matters worse, there is no honest representation of the client when the advisor makes a mistake. I learned this lesson the hard way. Divisha admittedly made a mistake on a life insurance policy form signing me up for automatic renewal unbeknownst to me. RiverSource took thousands of dollars out of my account without so much as a renewal notification letter, or a statement that the funds were withdrawn.

    Upon launching an “investigation,” Divisha did not have the integrity to take accountability to RiverSource as she did with me over the phone. RiverSource treated me poorly throughout this process and it became clear they never had any intension of making it right for the client. Simply put, they know where their bread is buttered. Once it was clear I could no longer trust RiverSource or Divisha’s integrity, there was nothing left.

    In addition, Team Divisha consists of a revolving door of unqualified and underwhelming staff. I can’t tell you how many quarterly meetings I came to where they were unprepared. I was told I owed money for taxes but was actually I was entitled to a return. I started having to change the subject line in my emails….third attempt.…fourth attempt. It took over 8 weeks to get the answer from Divisha and Andrew ** on my request for transparency on how much I had paid Ameriprise in fees. I was astonished to finally learn how much money was padding into their pockets.

    Every year I get a notification stating Divisha has been named “Forbes Best-in-State Women Wealth Advisors.” Yet I had been a client for years and never receive a single survey from anyone soliciting her actual customer’s feedback. This is likely a pay to play accolade designed with the intended purpose of giving clients a false sense of confidence. This coupled with the clip art 5-star review image on the Ameriprise website is a manipulation and is why I felt compelled to write a real Google review.

    In the end, I decided Divisha’s financial advice and ethics did not align with my moral compass. I decided to absorb tens of thousands of dollars in penalties to avoid the consequences of spending another day under her thumb. I shopped around new firms, all of which charged 1%, and all of which independently agreed my portfolio was mismanaged. I am with a new firm now and could not be happier with the level of customer service, transparency and growth my portfolio has experienced. If you are considering Divisha **, reading this review might be the smartest financial decision you will ever make….

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    Customer ServiceStaff

    Reviewed April 21, 2025

    Wow! Incredibly inefficient and inept. My father passed away in January and had investments with Ameriprise. I (and my siblings) have been battling them ever since. The Burnsville office and the corporate office did not work together and had no idea what the other was doing. At one point I went back to the branch office to sign more paperwork and all my info had already been transferred to the corporate office so my advisor could not access my account info. Each time I had to go back because of errors on their end. As of today, my assigned advisor told me they could not process a transfer of funds because the forms had been sent to the incorrect address and that he had mailed it back to me. I have not received it. I just called the corporate office (skipping the branch office) and was told something completely different. Every other financial institution was reasonably easy to work with and then there was Ameriprise.

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      Customer ServiceStaff

      Reviewed March 4, 2025

      I would give Ameriprise NEGATIVE stars if I could. My experience with them has been horrid. I moved to Ameriprise because Virginia Credit Union (VACU) recommended them. I am now considering closing all of my accounts at Virginia Credit Union simply because of this. I started with an advisor whom I really liked. However, when I needed to perform an action with my account, I couldn't get any response from her. I finally found out that she was out on emergency medical leave; there was no auto-response to let me know and no one notified me to let me know that she had already been out for a month at that point. I was directed to call the 800 number for Ameriprise. They were highly unhelpful and told me to talk to my advisor. Who was out. On emergency medical leave. And they knew nothing about it either.

      The REAL issue came when I tried to complete my transaction. I needed a check issued to a contractor. They had me fill out a 7-page fax and send it in to get the check issued (because my advisor had not opened and connected a bank account to my investment account like she had promised). So I sent the ridiculously long fax in. After a couple of days I started to suspect the check had not been issued. It had not. I called again. They said I was missing info. I supplied it, sent the fax back. Still nothing. I called again. They said I was missing more info. I supplied it, sent it back.

      I think you get the drift now. Despite the fact that I have begged and pleaded and demanded that they call me and let me know if I'm missing info (even though I feel like this should be done regardless), they just don't. Getting anything done with them is a NIGHTMARE. It is INFURIATING. JUST. STAY. AWAY. GO ANYWHERE OTHER THAN THIS HORRIBLE, INFURIATING "INSTITUTION".

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      Staff

      Reviewed Jan. 24, 2025

      The advisor I had never informed me of the fees I was paying nor did he offer any valuable information or guidance. When I decided to leave he was more concerned with why I was leaving than answering any questions I had. Then instead of telling me and being upfront with me he transferred me to the home office.

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      Contract & TermsPrice

      Reviewed Dec. 31, 2024

      Did a 10yr Annuity with Ameriprise and all the fees/conditions killed off any real returns. The contractual fine print is of course difficult to interpret, and the final straw was the "guarantee 6% minimum return or Market Rate" contract that became 6% SIMPLE interest (not compounded) and a very subjective definition of what "Market Rate" meant - certainly not in my favor. I could go on and on with all the negatives, but my Ameriprise "Advisor" was even a personal friend that recommended this Riversourse Rava 5 annuity fund. I went the 10yr required vesting time to avoid surrender charges and have now cashed out and invested with Fidelity w/ a Fiduciary advisor.

      The Riversource "Base Benefit" to determine your Annuity payout gained 5.3% per year. Note that it is short of the 6% minimum guarantee rate (and what happened to Market Rate gains?). It would have taken 18 years just to get my Principal back by going the Annuity payout route AND the money would still be locked up! The Surrender value over the 10yr period netted a gain of 1.76%. I have learned my lesson and never again with Ameriprise - personal friend or not! Sad story.

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      Price

      Reviewed Dec. 2, 2024

      I gave Ameriprise over 45k 9 years ago. I have made no money in a 9 year span of great returns in the market. They guaranteed 6% per year. They didn't mention they charge 6% per year. This money is locked up with them for 10 years or I pay a penalty. Annuity. The worst investment I ever made.

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      Reviewed Nov. 13, 2024

      Steve ** aided my brother after he stole the Family Trust documents, I was the successor of the Trust, He had enough nerve to tell me I wasn't a beneficiary in the Trust, this man cannot be trusted, I was a beneficiary to my mother's death benefits, since the Trust documents were stolen, my brother made himself Trusty..Mr. ** let him collect, lied to me and said she sold her life insurance, I had the paperwork for a year, my brother had no hand in on it, now I wonder how much he got paid for doing this, Steve get ready for an audit..and sad part is, she trusted you, she didn't hire you to do her trust, but you got your nose right in on it..looks like you, Paul and Keeney are buds, you were part of the plan, and you knew about this year's ago, how much was your cut..you're a crook..

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      Reviewed Oct. 15, 2024

      I rate them a negative 1... been there over 10 years - made nothing. I am not a risk taker so that was not the issue - poor investing on their part. They charged me $20,000 to watch my money. I would stay far away!!!

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      PriceStaff

      Reviewed Sept. 17, 2024

      Worst company I ever dealt with. I opened an account for a promotion to get additional $500. After they received my money I was informed that my money was not received until after Aug. 30th deadline when in fact my account was all set up and I mailed them check on Aug. 22nd. Then their story changed to my account was missing paperwork (not true as I did ALL the paperwork). Then story changed again that they received the funds without an account # on check and couldn't figure out where to post money. Then all of a sudden the money posted to my account on Sept. 3, just after deadline.

      I spoke with them and challenged on all accounts. They said the "higher ups" would review and decide on an exception so I could qualify. Exception was rejected (no surprise). I did get my investment back with nothing more than a "sorry"!!!! This company is a joke. There are so many options out there so my strong advice is stay away and save yourself a ton of aggravation. "Shame on you" Ameriprise. You lost a possible long term customer over $500!! Based on the cost of acquiring a new customer your decision makers are MORONS!! Date of experience: September 16, 2024.

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      Contract & TermsPriceStaff

      Reviewed Aug. 12, 2024

      At 65 I retired. I had pension & 401k money coming to me from my employer & already had money invested with Ameriprise. I’m not talking about a lot of money! At the time I was dealing with an Ameriprise “Financial Advisor” whom I was PAYING for his services. When I first started out with Ameriprise I was not happy with my first advisor so I looked around and found this advisor who seemed like he was experienced & who I thought I would be able to trust. For quite a few years he seemed ok. Then came retirement. This guy recommended a 10 year annuity that if I kept all my money in it for 10 years it would give me a lifetime monthly payment. So I asked a lot of questions but as I found out later I didn’t ask the right questions. I did ask a number of times “is there anything else I need to know?”. All I ever heard is that this is the best plan for you.

      After about 6 years with this plan my advisor, claiming he was going to be semi-retired now, pushed me off onto one of his co-workers in another office. At that point I cancelled my “financial fee payment” since I had no idea of who this new person was. Now another year goes by and my husband turned 70, at that time we found out that once you turn 70 (the law is now changed to 73) the government makes you withdraw money from your annuity. So here’s the problem. With this annuity we each had an account, Ameriprise was giving us 6% a year and it was costing us 1 & 1/4 % to have this plan. They were taking the 1 &1/4% out of our savings every month. Now the 6% was never put in our account, it was accrued and would be given to us if we stayed in the plan 10 years. At the time it sounded good.

      Now we find out that because my husband turned 70 (that was the age then that the IRS said he had to take money out) that we no longer get the 6% credit and they will continue to take their 1 & 1/4% out of our money. NONE of this was every explained to us! No where in their brochure that we were given in the beginning ever said anything about this. Who on earth would ever agree to this!! When my new financial guy asked the clown that sold me this plan, he apologized saying he forgot to tell me?? So I wrote a letter explaining all of this to the Compliance group at Ameriprise. My new advisor did try to help us but they ignored him too. Needless to say they wrote me back and basically said “you signed the contract, too bad for you, we will do nothing! HaHa!”. They also wrote a lot of convoluted nonsense trying to explain why they grabbed our money.

      So I would advise anyone thinking of getting an annuity to ask a lot of questions, especially about how your age may affect the annuity payouts. And would also ask them to write it out on paper how much this annuity will really cost you since - remember at a certain age the IRS makes you take withdrawals. I’m sure there are a lot of good reputable advisors out there working for many investment companies, unfortunately I didn’t have one. Because of this weasel retirement is not going to be the same as we planned for. Unfortunately I don’t know what our options are now.

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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