Ameriprise Financial Reviews

Our financial advisor has been making transactions without our knowledge. When asked about it, his response is usually "We spoke about this." I don't like our advisor, didn't from the start, so I don't reach out to him for any advice, let alone asking him to make trades. My husband has suffered a massive stroke, so he doesn't speak with anyone outside our home, yet these transactions have been happening on both our accounts. I have been unsuccessful trying to move my husband's account to another firm, my own account has already been moved. My financial advisor plays dumb, after he cancelled my access, so I have no way to access my husband's accounts or transfer them someplace else with human advisors.

I've been an AmeriPrise customer for over 10 years now, going back to a prior employer. A few years ago, a friend of mine became a financial advisor so I switched advisors so that she could manage my accounts. It started out well, until last year, when I decided to move the money from my annuity into an employer's TSP. She advised that it wouldn't be economically feasible for her to continue as my advisor and before I could blink, I was moved to someone from AmeriPrise Personal Wealth Group. It turned out that I couldn't move the money because the annuity won't mature until later this year so it seems that the switch was all for naught.

Good luck getting anyone on the phone with less than an hour wait. Horrific customer experience.

My mother-n-law purchased a life insurance policy from them. Unfortunately she passed away and her three kids have had a hell of a time collecting from them. They misspelled my brother-in-law's name (my mother in law caught this and send in the correction before she passed too!). They had my wife's address incorrect. They also had her DOB incorrect. All of these errors were Ameriprise clinical errors and they are making my family jump through hoops trying to get their errors corrected. They only accept fax or snail mail too so time is not of the essence to them. Grieving children shouldn't have to deal with this nonsense. Ameriprise now was your time to shine and you completely failed them. Do you want your children to deal with this incompetence when you pass?

The company itself is sorely lacking in that it has constant internal problems with website and what you are told is different on the website. They have blocked me from signing onto their website hence I get no tax information or anything else. I have sent letter after letter over the years correcting their website mistakes. They stink as an organization. Advisor is only thing keeping me as a client

Firstly- my advisor is great 10 year relationship. The 2 stars are experiences always related to corporate support. They made an error on an IRA rollover and it was a huge battle to corporate to stand up and take accountability. Recently I was assigned to the AAC pool of advisors. I emailed a question about tax documents- 3 days no response. I called the toll free number for the AAC Advisor Pool, and after a hold got to speak to a representative. She was not very upbeat when answering or during introductions and ID verification. Just felt like she didn’t want to be there. I did get my question answered. However my experience with an advisor pool arrangement was not encouraging.

We have had the same FA from Ameriprise for 12 yrs. He manages about 2/3 of our investments while I manage the balance. He is a fiduciary and conducts himself in a professional manner. He makes a visit once a quarter and we go over everything. He does not make decisions without my input. He has been able to keep up with market returns and we have been generally been happy with where we are. We have worked to develop a good relationship with the family and we trust that he will take care of everyone in the future. I have gotten to the point that I am getting less interested in self management and will probably turn it all over to him in the next year or so.

My advisor was recommended by a friend. We decided to test the company with only 10% of our retirement money and are only one year in, but all seems well. Our advisor bought us lunch one day and discussed our goals, mentioning possible insurance needs. There was no pressure when we declined, and we appreciated lunch and his time. Other reviewers mentioned high fees, and we will have to check into that.

I had the unfortunate experience of having to deal with Ameriprise because of my parents. Back in 1993 my parents enrolled in Long Term Health Insurance. My dad passed before he could take advantage of all he had put in, but when it came time to deal with Ameriprise for my mom it was a nightmare!! Not only did I have to deal with my mom's declining health I had to argue for her benefits. They seemed to try everything they could not pay out, finally a few weeks before she passed, I finally found a sincere employee his name was John who helped tremendously. I will say this to everyone, my mom had dementia and if she didn't have me calling all the time she probably would not have received what she was entitled due to Ameriprise and River Source and their ridiculousness. I would never recommend Ameriprise to anyone!

I hired the services of Ameriprise last November upon suggestion from a friend. I am not satisfied at all. Since November I did not made any profits, only losing the original investment. I did pretty good a year before through another company. Six months or so ago I asked my adviser to put the funds into CDs. Recently I traveled the funds to a different company. The Ameriprise advisor took time to draft a retirement plan for me, etc.; however I did not see any benefits for a year. They are expensive and get a profit even for the transfer.

Ameriprise fails to make transactions as directed by the client. When they forget to make the transactions as directed, they then make excuses and suggest that all possible earnings or losses could not be calculated. No harm, no foul. Their compliance department agreed that their company and broker did not make transactions as I directed. However they would do nothing to compensate me for the losses incurred. It was a break in the contract and they lost us money. Thousand of dollars lost because Ameriprise can't do their job. Ameriprise gets paid a good compensation for managing my account, But, they do nothing when they screw it up.

I have been a customer since 1988 with IDS. Things went well after the merger, but last year, my accounts were transferred from my local office to somewhere in North Carolina. I had to call a toll-free number to get any information at all. Every time I asked for information regarding my Roth, IRA, or non-qualified account, I was met with a sales pitch, touting how "professional management" would be a better fit for me. The fee--$50 per month plus 1% fee based on my total balances. This came to a little more than $3,000 per year.

Ameriprise as a company especially website and other BS absolutely SUCKS!!!! If they have a website problem they want you to explain personally what is wrong. They don't want a paper explanation. In other words they want you to fix their totally useless website for them!!! I have already sent 2 letters to the CEO condemning their website for erroneous errors and comments like when you sign in and they cannot verify you. It says they do not have you as a client!!! They have sent me totally bogus letters that repudiate themselves. Ridiculous!!!

I highly advise against doing business with Ameriprise. My experience began when a relative’s friend, who was a financial advisor at Ameriprise, helped set up an account for me and shifted my investments into specific mutual funds. A year later, despite the stock market reaching new highs, my portfolio had lost more than 10%. I was also surprised to find that I was paying a 1% management fee based on my account value.

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.

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.

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 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.

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.

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.

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..

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!!!

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.

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.

From dealing with the Tampa office-Simon ** and his assistant Tyler to the Minneapolis office, this company is terrible. They are jerking me around for weeks now with $13,000 that they cannot account for that is missing from my account. Allison ** in the Minneapolis office refuses to help me because my mom passed and she has to protect my mom's privacy. They have made mistake after mistake from the first advisor to all the cast of characters I now have to deal with. PLEASE STAY AWAY FROM AMERIPRISE, THEY ARE ABHORRENT.

John ** is my advisor. He's the most trustworthy person and that's why I would not go anywhere else. He contacts me often to go over my investments. I'm retired and when you can trust someone with your money, stay with them. My mom had John til she passed. My brother lives in VA and still has John as his advisor. Highly Highly recommend him.

Only with this group for one month. Yes I needed to consolidate stocks to one brokerage which they did. Told them my intent to gift to children. Never informed me that if account fell under $500000 all of us would be hit with fees. They demoted this but it’s in their documentation. I transfer to children and I fall under $500000. Transfer to 3 children and each would be under $500000. High fees. This financial service is high fee oriented and not geared toward best advice for client. They tried to talk me into muni bond fund for $500000 at high expense ratio… Ameriprise makes out but client might save some on taxes. Declined as not comfortable. Told me we could do individual muni bonds but would be high fees. Once I decided to cancel advisory account the rep offered I consider a ILIT life insurance survivorship policy which requires an attorney as it sets up an irrevocable trust. No!

These guys are absolute garbage. In 3 years they charged me $10K in fees only to lose money. Never made a SINGLE dollar of gains - just losses. They’re full of excuse, apathy, and terrible predictions.

My parents unfortunately chose Ameriprise many years ago. They were sold an annuity that returned 2% annually for 20 years. This money has obviously lost value as it did not keep up with inflation. They used high pressure tactics to convince my parents they were acting on their behalf. When the children including myself tried to step in manage the money for better returns, we were shunned. Our advisor informed us that was not what the parents wanted. The advisors belittled us and convinced the parents Ameriprise knows best. Ameriprise lied to the parents telling them that any investment that isn't an annuity could lose money. Then Ameriprise sold them (both in the 80's) another annuity. Ameriprise has caused a rift between the parents and all children. So to summarize, high fees, family splitting, low returns and lying about their products. All of this could your be yours with Ameriprise!

Ameriprise advisors - especially my most recent - continually told me they were fiduciaries meaning they were working in my best interest and totally transparent. They had my money for over 20 years - yes, that's right, 20 years and they made way more off my investments than I did. In fact, over the 20 years, I lost money. I understand that can happen with investments. But if my fiduciary advisor had been upfront and honest with me and not out and out lied - I would never have invested in the most recent VUL policy. She out and out lied about 1 facet of the plan and then never disclosed 2 other things - because if she had, she knew I would never have bought the policy.

I originally started with a financial advisor from another company but was under Ameriprise for at least 3-4 years. I never knew a lot coming into this but always received genuine guidance and honest feedback. I worked with a Dmitry B. and Tony G. my time with Ameriprise and really appreciated them not pressuring me to make decisions with my own money. Every so often I would get calls regarding updates to my accounts or suggestions to make based on the current market but always felt my decisions were respected and heard. Thanks again to those gentlemen and helping me reach my financial goals!

I bought into a number of "alternative investments" in 2015 after explaining to my advisor that I was looking to offset the volatility of the public stock exchanges with growth investments that were less volatile. I communicated I was willing to trade return rate for stability but wanted to do better than fixed income returns. She recommended a number of these private equity vehicles, most paying a periodic dividend until fund closing at which time the shares are liquidated and paid out - obviously at a rate intended to be higher than when purchased.

They are in business to make themselves $$. Ameriprise claims that most clients belIeve their advisors cares about them. Advisors are well trained to act like they care. What they really care about is extracting enormous fees for their pretense. Stay away from all financial management services.

Under a previous advisor, who retired, I was under an annity plan that I had no issues with until his replacement said it was no longer supported so I had to select another; that was technically not true as I later found out it was just a rider to the plan that was retired. Nevertheless, under the impression a plan I liked was gone, I sought something similar as a replacement and the advisor selected a plan which I assumed met that criteria. It did not; it actually increased payout to Ameriprise and put a cap on my gains. I found out only after a superior called, as part of a routine call, to confirm my selection and my questions soon unearthed the duplicity of the advisor including that there were other plans that better mirrored my needs that was never mentioned.

My employer gave my an option of 3 third party service providers for my 401k. 2 of those options were Ameriprise advisors. I called all 3 options to discuss the fees that I would be charged to use them for my 401k. I ended up selected one of the Ameriprise advisors, specifically The Permanence Group. Dan who I spoke with over the phone told me that I would have a self-directed brokerage account with no asset under management fee, a $100 annual fee, and that I would have to pay $6 per trade. I was told that I would have access to trade essentially anything: stocks, bonds, mutual funds, ETFs, etc. These fees were already a bit high compared to what I am used to paying with Vanguard or Fidelity, but it was the cheapest of the options I had available. My intention was to make recurring automated purchases of low-cost mutual funds or ETFs, so paying $100/year plus $6/month seemed acceptable.

I gave Ameriprise some money with the intent of getting a small but steady growth and maintain the capital. They said they invested in a safe mutual fund. My advisor moved to a new role and I am not sure who was monitoring my account. After two years, my account is below the initial amount I invested. Ameriprise made money by charging me their quarterly fees though. I would not trust them again.

In my experience a true fiduciary is better for peace of mind. Please do your homework and seek multiple views before deciding on an advisor. My experience was to give more money to my advisor during 2020 who put me in fund and notes that had higher fees and lower returns while churning/selling off assets I already had, as well ones they had previously purchased (Sold many at a loss to watch them skyrocket later). The end result was poor returns, while their site stated 10-12 percent, I wound up with much lower when looking at what I had given and what I ended up with. In addition, a 1% AUM fee is just the beginning, when you add their fees and and the fund fees it's over 2%. There is enough data out there for self directing assets in a Vanguard et al.. Buyer beware or you may wind up behind as the market dips which has now compounded their (my) errors.

I used to have a healthy stock portfolio. Starting out I wasn’t reinvesting my dividends; therefore I wasn’t growing as much either. When I joined Ameriprise Financial and turned over my portfolio to them; they reinvested my dividends- which in turn bought me more stock so that when I needed money to buy my car it was there. The people at Ameriprise are very nice, professional, willing to answer any and all questions that you may have. I look forward to handing over my SIP and 401k over to them to see how they can assist me once again.

Their back office is filled with thieves and scammers. Avoid this platform if you don't want to be stolen from. Choose Fidelity, Schwab, or any of the other options. These people have carefully crafted strategies where they look at their clients' accounts and quite literally search for ways to take large amounts of money from them by trading in the opposite direction. Top tier scumbags in the back office. Run away. Save your money.

My Ameriprise Financial Advisor is knowledgeable and insightful. She is always responsive to my inquiries. Equally important, she listens to my concerns and discusses my goals then then offers advice. I've worked with her for 13+ years and would recommend her.