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.
Overall Satisfaction Rating
- 5 stars
- 4 stars
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- 1 stars
- Personalized service
- Online account management
- Variety of investment products
- Advisors across the U.S.
- Unclear advisor fees
- Advisors aren’t all fiduciaries
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.
Ameriprise Financial Reviews
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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.
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.
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.
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.
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.
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.
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.
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!
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.
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!
This is probably one of the worst associations for Costco. The service is cheap for a reason because they do not want to pay for anything on a claim. I am currently without half my kitchen and a hole in my ceiling due to a leak from the dishwasher. The insurance company (now called Connect) won't send an adjustor to my home. We as home owners are not kept in the loop on communications between the adjustor and the contractor. We have to constantly call both parties to find out what is approved and what is not approved on our claim. Most recently I found out that I do not have a 'matching clause' on my policy which is why Connect will not restore my kitchen to what it was. This is by far one of the worst companies to work with. Please do not fall prey to their cheap prices unless you want to pay out a premium and get nothing for it.
As a Costco member, I've had pleasant experiences obtaining quotes from Ameriprise for replacement policies for auto, homeowners and umbrella. The combined cost of these 2020-21 premium quotes represents a significant savings when compared to my current carrier. However, after reading several dozens of reviews on this site, I am concerned and may not proceed.
I called Costco's membership services number at their corporate headquarters and expressed my concern about the volume of negative reviews of Ameriprise. I indicated I was a bit hesitant to switch to a Costco-partnered company unless Costco could assure me of two things: 1) there were no immediate plans to sever the relationship with Ameriprise, and 2) Costco would be wiling to get involved in any type of dispute between me and Ameriprise, if the need ever arose. The person with whom I spoke understood my concern and assured me that Costco would very likely have their escalation team get involved after a customer brought a complaint of this nature to the member services department. This was reassuring to hear, and I hope others who have negative experiences with Ameriprise do the same thing. This will be the only way Costco is made aware of the level of service being provided to their customers.
Nobody watching the hen house. Stocks that should have been sold were not [airline] and stocks that should have been held were sold. I'M NOT TALKING HINDSIGHT HERE. I LOST TENS OF THOUSANDS DUE TO POOR ADVISE AND MISMANAGEMENT. I hate to blame the WHOLE company because of a few ill informed financial advisers.
We had a relative pass away and we were trying to get some pension and annuities payouts from Ameriprise working with California State pensions. We had an inherited IRA account established at Fidelity. Ameriprise wanted us to open an account with them and we refused. We told Ameriprise to prepare a check for deposit in the Inherited IRA and gave them an account number. They prepared paperwork for us to sign which was incorrect. Admittedly we did sign it, however Ameriprise was verbally instructed that we wanted funds to go into our existing account at Fidelity. The check was made out incorrectly to us personally so it was taxable. Ameriprise would not correct the check.
Both the broker (Redding, CA) and the HQ in Minnesota were flippant and ambivalent. They did not care and would do nothing to help us fix it saying there was nothing they could do. DO NOT do business with Ameriprise, read these other reviews. bad advice, bad communication, bad service and then they don't care. STAY AWAY from Ameriprise.
Auto Premium Increase. I would like consumers to be aware that I have been a customer of Ameriprise for over seven years. I have no claims and a good driving record. This month my premium increased $750 for no reason. I was told because I live in Los Angeles I have to pay more. While other companies are given discount during this terrible time, the horrible executive are charging me a substantial increase for no reason. Horrible company and they should be reported.
I was with my girlfriend At a park watching her son play basketball. When we returned to her car we noticed that hers and multiple other cars were vandalized. The damages were reported to Ameriprise. When the adjuster got the pictures from the repair shop he called my girlfriend and accused her of lying about the way the damages were done. He told her that the damages on her vehicle because they were on different places around her vehicle, were from separate instances and were done while she was driving. I was with her at the time on speaker and tried to explain to the young person on the phone that various other vehicles had gotten damages all the way around them at that parking lot.
As I tried to explain, the adjuster who sounded like he didn’t have very much experience kept interrupting and talking over me getting very defensive. I asked him how he came to his conclusion just based on pictures taken from the shop and without sending an Estimator to see the damages. But he insisted that we lied to him so he only approved the damages on the lifting door “which looked like something or someone got pushed into it” and not the passenger mirror that got broken off. I earn a decent living so I paid to fix the mirror for my girlfriend, but it isn’t fair that her vehicle got vandalized and instead of feeling comforted by the fact she has insurance, she was called a liar by the adjuster and her car wasn’t properly fixed. I thought that’s what insurance companies were supposed to do, take care of their customers and make them feel at ease. Instead of giving a person grief after they were victims of a crime.
I enlisted Colin **, at Ameriprise Financial, Heritage Wealth Advisors to manage my 401K rollover. It went pretty well at first, but then in late January 2020 I asked that we lighten up on equities because I was nervous about the coronavirus. I even hinted that it might be time to go to an all cash position. He did nothing. On February 11th, he emailed me an article on the Internet that said not to worry about pandemics they wouldn't impact your portfolio at all. I replied that I was still concerned, but he must know what he's doing? I guess we all know now how that ended.
If I hadn't asked him, politely, to move my money I wouldn't have been as angry as I am now, but he did NOTHING. I finally pulled my money over to TD Ameritrade and I'll save about $4K a year by not having a do-nothing advisor. To add insult to injury, Ameritrade took $75 or my remaining $275 after the sweep over to TD Ameritrade was nearly completed. Whatever you do, stay far, far away from Colin Sands and TD Ameritrade!!!
Months prior to the virus, my financial adviser, Scott ** never returned my calls. I had to call the main office to finally get him to call me back. Then he dropped me without telling me. When I called his office, I was told he was in England, only to find out a day later that it was a LIE when he answered the phone! He continued to lie stating that it was not him.
My mother had her money with Ameriprise. Three years ago she requested her beneficiaries be changed and asked her Ameriprise advisor for the forms to make the changes. She filled out the form provided and submitted it to Ameriprise. Unfortunately it was at the time departments at Ameriprise were being reorganized and her advisor did not give her all the appropriate forms. The advisor said that the beneficiaries were changed on all her accounts. My mother recently passed and we found out that the beneficiaries weren’t changed on all her accounts. Ameriprise would not fix their error even though we had email and forms showing the requested changes to all her accounts. Anthony ** and Ameriprise are the worst. My mother’s wishes were not carried out. Take your money to another institution!
I have been with this company for 10 years now. I just got my latest renewal bill and my rates have gone up by close to 30%. I have NOT ONE SINGLE CLAIM with this company in my entire history with them. Both of my cars are 15 years old. When I ask why, I’m simply told that there’s more accidents in my area so they have to raise prices. I don’t know what’s up with this company. I know American Family just purchased them, so maybe they just want to gouge consumers more. I should not have this kind of rate increase to pay for other people’s accidents. Cancelled my account today and signed on with another company, who gave me a lower rate than I had with Ameriprise BEFORE they raised their rates. It pays to shop around folks.
Of course, Ameriprise is a lower budget option for car insurance. But I had no idea it would be so horrific. It took over six weeks to complete my claim. I had to make over ten phone calls and several dozen emails to get the information I needed. The omissions and misrepresentations occurred during every single stage in the claims process, from initial estimate to returning the rental call. In the end, due to Ameriprise's own failures, I wound up having to spend $170 of my own funds for the rental car, which I had to return before even receiving my total compensation check. Ameriprise would not even elevate this loss to management or receive feedback on these failures. I question whether their practices are even legal.
Show one auto insurance policy quote online. Firm quote, no disqualifications, no declaration. But when you go buy policy and call their customer service number they give you a different much higher quote. Though no information has changed between what I entered online to what was discussed on the phone with the rep. Rep pulled my online quote also but their quote was much higher. They say they did not have VIN numbers, but online it picked-up every piece of information automatically about my vehicles and drivers so they had it all available with the address, including model type, specific features about each vehicle we own. And the online quote they gave a firm number did not qualify that the estimate is out of nowhere. I consider this as unethical business practice, waste customer time having them to enter 5 pages of information, using their personal private information and use waste the time again to reverify every single piece of information on the phone. Waste over 30 minutes to give them much higher quote than market. Also brings Costco credibility down.
Received an offer to switch to Costco Insurance (Ameriprise). Said I could save over 569.00. Spent about 40 min answering questions. After all that I was informed they could not insure my 2019 F350 because, get this....I might be hauling a trailer. That's after he asked me if I wanted to insure my 2015 5th wheel trailer which BTW they could not insure because it was too big? (33 ft) I am 58 w/ perfect record and wife is 55 w/ perfect record. Honestly, I am sooo glad this happened because after that I read reviews... WOW, what a company. Can't believe Costco is PUSHING this insurance on their customers. Just because it's Costco doesn't mean it's any good. WASTE OF TIME.
Stay away from the auto insurance company!!! I have been with Ameriprise Auto insurance for more than eight years. Pay for full coverage and rental car but won't approve anything!!! They only know how to take your money but don't wanna help if you have a claim!!! They are cheap for a reason!! They want to find all ways to deny your claim. As a consumer you buy auto insurance for peace of mind. Put in a claim and they hire big attorneys to intimidate and treat you unfairly. Horrible service from claim adjusters especially Brian ** and blame you for the accident instead of trying to help you, badger me with irrelvant questions and then say claim is on hold!!! Waste money on fake insurance.
At first I was enticed by their low prices. But low prices come at a heavy cost. Worst customer service I've ever experienced and like others have mentioned they keep moving the goal posts. Horrible communication, I'd hate to go through an actual claim with them. Buyer Beware.
I am a satisfied Costco member for years. All my cars are insured with Geico for many years. Decided to make change to Costco insurance after many solicitations from them. Spent 40 minutes on telephone giving the agent all the details. Have no tickets, accidents, etc for 25 years. At the end of process the agent said they were not able to offer collision and comprehension coverage on my five cars. Three cars are Porsche, one BMW, one 1996 Ford truck. Credit history excellent with no loans on cars. They will not insure. I am 77 years old and wonder what kind of customer Costco is Looking for. Do not waste your time with Costco insurance unless you have bad credit and junk cars.
I had a policy with them for home/condo insurance for a few years. Then one year I rented my unit out and had to get renters insurance with a different company as they did not provide this. When my tenants left, I called to reinstate an old policy. The person speaking to me on the phone updated all the information; I paid by credit card and they emailed me the new home insurance policy which had all the information and details including start date, price, coverage. When I went to the Ameriprise website to check and possibly renew an auto policy, I found out that my home/condo insurance was cancelled and not effective the date they told me. No one bothered to let me know what was going on.
I emailed to ask what happened and got an email back stating that the policy never went through due to credit card issues. Mind you, there is nothing wrong with my credit card and I verified this. What irks me is that NOBODY from Ameriprise even bothered to let me know that there was an issue and the policy was cancelled. So if I did not bother to check online for a different policy, I would have never known. I would have operated under the assumption that I had full coverage. They let my coverage lapse and it could have lead to bigger issues and problems for me. I would never trust this company every again.
Over the last few years I have had multiple issues with them. Customer service has been so poor. I am also going to switch out the auto policy I have with them. Costco needs to know the issues. It is the only reason I am with them - because I am a member of Costco. Horrible service. I would never recommend this company to anyone anymore. They used to be good. Not anymore. Costco needs to cut them off and find a better vendor to partner with. Please write to Costco to complain about this as well which is what I will be doing.
Please, please do not invest your money in this company. First watch the John Oliver show on retirement plans to understand how companies like Ameriprise charge high fees and end up making very little money for their customers. Managers like Kerry ** will never tell you the real story of why they are not making good returns and tell the truth about as much as crooked politicians. In the 10-15 years that our mother trusted them, Ameriprise earned 3 times as much money as they returned to our mother's retirement funds. STAY CLEAR of them. You can get the same or better services for one third the cost which, when compounded over 10, 20 or more years is a huge amount.
Ameriprise admitted to making a mistake that caused my coverage to lapse, they didn't notify me for three months. When they did, they said I would have to pay for the period during my lapse, or my 10 years of relationship would be lost, and I would have to pay the "No Prior Insurance" rates. Talk about abuse of power, coercion, manipulation and disrespect. I have never written a negative review like this before. I just thought someone should know. This time the house didn't win, I switched to GEICO.
When monies were inherited in 2013 the Ameriprise representative took a quarter of a million dollars and invested it in what were described as middle of the road investments with good potential. By 2016 we had lost 30K. When we went to a different advisor, a certified financial planner. He looked over the products Ameriprise sold and was explained that "wrap around fees" had made money for many people, just not for us.
When the original Ameriprise representative was asked for a breakdown of where the monies had gone, she told us she didn't like what we were suggesting and didn't want to do business with us anymore. The monies have since been moved to the independent certified financial planner and the monies have been steadily increasing. We still have an IRA with Ameriprise that was inherited at the same time. Every year it takes over an hour, most of it on hold, to get our minimum distribution. When someone finally gets on the phone, they are usually very nice, hence the two stars.
Ameriprise Financial Company Information
- Company Name:
- Year Founded:
- 3500 Packerland Drive
- De Pere
- Postal Code:
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