Ameriprise Financial Reviews

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.

Ameriprise is an average financial advising/wealth creation agency. They were hiring just about anyone when they first started and because I utilized their services and it wasn't a great experience, it doomed my impression of them right away. They have had some good, well-informed employees who take it seriously and are very engaged and helpful. But overall, I don't have a good impression of their services or staff.

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.

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.