Ameriprise Financial Reviews

I have had a relationship with Ameriprise for over 10 years. Started small and built up. I have an SPS arrangement and pay a WRAP fee and I also pay a Planning fee. In addition, I have brokerage accounts there. Recently I was sold a variable annuity and was reading the literature later and saw there was a 7.5% front end load. This led me to investigate my other annuities that are with RiverSource and they had similar fee structures. I cannot be exact about them as it is very complicated. I had an outside firm compare my RiverSource annuities to similar ones (not completely apples to apples but close) and found that the fee structure was 2-4 times more costly than some competitors. So why was I put in these products. Why was I not informed of the fee load?

My Ameriprise financial planner lied about Inland American Real Estate Investment Trust as he enthusiastically sold its shares to me. On his advice, I placed a lot of money in the fund and like another complainant on this site, learned after it was too late to change my mind, that Inland American is not publicly traded and that it will probably never go public. My shares cannot be sold, even at a loss; they have already lost 35% and still sinking. Ameriprise brokers and so-called advisers continue making high commissions by selling worthless funds like Inland American while their clients watch their investment disappear. Stay away from Ameriprise, subsidiary companies and any company affiliated with Ameriprise - it's a toxic company.

20 years ago I was having some success in my business so I decided to stash some cash in another retirement account besides my anemic 401k. My wife had retired and rolled over her 401k to Ameriprise so I did the same. Over the next 7 years I gave them $350000 for a 401k based on a mutual fund. This year when I decided to start drawing on this, I find they had put it into a variable annuity. The fund had increased to $459476 which is only 24% over approx. 10 yrs. They are offering me a payout of $20249/yr. which is only 4.2% of the fund value. My wife and I are 74 and 75 yrs. old and I think I'm getting a raw deal.

I was involved in an accident with one of Ameriprise's insured clients. I had to call TEN times in 3 days just to get a rental. They gave me 7 days and told me to call the day before the rental was to expire if I didn't hear anything (today) so they could extend it. I called FOUR times and no one has gotten back to me. Now, I'm facing charges on my card because they REFUSE to answer calls. I'm so Disgusted.

The company automatically updated my address. Then I spent weeks in between traveling to provide them with proof of my residence. After I provided proof, they raised my insurance by $200 even though they had previously sent out an invoice with the lesser amount. When I called in, they said that they had originally entered in the address incorrectly so when they updated to my 2nd address and then changed it back, they caught this error and would not honor the previous premium notice I had received.

I was involved in an accident with an Ameriprise client. It's been almost two months and Ameriprise says the same story. They haven't been able to communicate with their client and said they are unable to do anything for now. Other insurance will just go off the police report after a week or 30 days. Oh yea, my claim person said, "I'm sorry you don't have collision coverage." Who says that? Did I ask for your ** client to hit me and two other people while we were stopped waiting for the light to change? FYI, my car got totaled so that didn't make any sense. I got stuck with someone who hates their job. Other customer service staff was nicer.

I would not recommend them. I left the country for 3 months. I paid for 2 of them. The last payment was not accepted because my card was blocked while out of the country. Coming back to the country, I called my company and was told that my payment was not received and that I no longer met the Ameriprise guidelines and had to go to another insurance company. Ameriprise senior rep said that any lapse in coverage disqualifies a customer to be insured with them. I was also told that I have to wait a year before I can qualify with them again. They said that I do not qualify for their low risk insurance.

I was involved in a parking lot incident where an Ameriprise insured vehicle struck mine. The insured party was backing out of a space to my right and struck my vehicle while I was at a stop. Ameriprise agent Mike tried to put negligence on my behalf for not honking to warn the other vehicle. If I had the time to honk, I would have done so. They are specifying I am 10%-20% responsible due to the fact I didn't honk to warn the other driver. Really?

I took the Ameriprise auto insurance and got a quote. It usually works this way: You fix a quote and submit some documents that they need from you, and then sign it and send it. If you do not sign and send it, they will select some default policy and update your quote. I was well aware of that. I received the documents at home and I did not want to mail it to them. Instead, I decided that I want to scan and send them. So I called them and asked them if I can do that. They said that it is possible and send me a pre-filled form. All I had to do is update my health insurance information, scan it and send it back, which I did. But in the meantime, the money credited from my account was $250 more than it was supposed to be.

I have auto insurance through Ameriprise. For most of the duration, I've had stellar coverage, have never had to file a claim, and the rates were excellent. Then I got married and a giant cluster of non-communicative mistakes happened on their end. First, they tell me that by Texas law, my husband has to be on the policy, even though he has his own vehicle and own insurance provider (If it's the law, why didn't Allstate put me on my husband's policy? They know me. I have life insurance through them and I've even gotten a quote from them for auto insurance, so they know I'm a licensed driver.) Okay, that's fine. I added him. My premium went up like 8 dollars a month. No biggie.

I asked my new rep from Ameriprise what happened with the $50k I put in after tax and also, I wanted to know what they were charging me to invest my money. It's been 3 weeks and no answer. When we were approached by Ameriprise, we were told the cost was 500 dollars a year. In the initial meeting I asked how much because I did not want them moving money around just so they would make money. I was told by Jason that I did not have to worry about that because the 500 dollars covered all trades. Years later, I find out I was lied to. Now I can't get a straight answer. I am looking for other people out there that were also lied to so we can have a lawyer look at it. We are with Ameriprise located in Newark, Delaware. Please call me with your experience.

IDS increased Personal Injury Protection premium by 343% in 1 year. And when I called them, it's because they had to reevaluate the districts. Three cars we have in Orlando increased about 30%. But my son's car in Miami increased 343%. The car doesn't worth that much. I don't recommend this company to anybody.

My mother paid into her annuity for over 15+ years, and when she passed away, I was first told that she received monthly payments. They found out she did not; she reinvested it. Then, I was told that, yes, it was there and worth about $43K. Then $30K was deposited into my account, then removed. I called. They said they'd forgotten to add in interest, so it was really $33K. Then, they removed the $30K and put in $21K saying nothing! I tried calling my advisor, and he danced around and said it was Minneapolis' fault. Don't ever go to Rodrigo ** if you live in San Diego, I'll tell ya that. So, I hired an attorney and requested all documents. What I have received is a letter (form letter), mind you, that just says they didn't account the sums. That's all! So I tried calling, but they have no voicemail! I put a letter in writing and have demanded a complete accounting of the account in hard copy, or I'm bringing their butts to court. They are the worst, the absolute worst. Do not do business with them.

We filed a homeowners claim in 6/2012 with Ameriprise for roof damage caused by hail and wind in 3/2012. Ameriprise sent an adjuster out who told our contractor and us that there was a lot of damage and their recommendation would be replacement. The claims representative didn't contact us after the adjuster's estimate. We received a check for repair. We made several attempts to contact the representative to discuss claim, but to our misfortune, there was another hailstorm that came through and we suffered additional damage.

I purchased home insurance at the end of July. I signed up for monthly automatic payments. In September, I received a letter telling me that my policy was cancelled and they want to get paid for the month of August. After long talks and e-mails back and forth, I was told that the reason why they cancelled my policy is that they could not retrieve the money through my bank. I went to my bank and they did not have a sign that an inquiry was made. Nevertheless, I offered to send them a check in full for the whole year, and they told me that they are sorry but they cannot do that.

A month has passed from being hit by a insurer of Ameriprise and they have yet to get back to me with fixing my car and a rental. They are the most sorry IC I have seen. The accident happened on 10-18-2012. It is now 11-12-2012 and nothing has happened. Sorry, sorry.

Ameriprise Auto & Home Insurance Drags its feet: Their client collided with our car. The police issued their client a ticket and wrote a police report that makes it obvious that their client was at fault. Ameriprise offered to pay us 50% of the damages. I would think twice about ever doing business with them. Here's the email their claims representative sent me offering to pay 50% of what they are responsible for: "The initial review of the damages and estimate with statements from all parties, we have offered to cover 50% of your damages to your vehicle and 50% of basic transportation if needed while your vehicle is being repaired. We do have some room to move; however, we would not be able to cover 100% of your damages. Thank you."

If I could rate Ameriprise as less than one star, I would. My daughter got married on Sunday, Oct. 14, 2012. I did my taxes on Monday, Oct. 15. To say I have been overwhelmed is an understatement. I forgot to pay the car insurance, which was due Monday, Oct. 15, 2012. I tried to log on to their website but it would not let me. I was beyond frustrated I called but could not get through their robot voicemail. I hung up and called Tuesday, Oct. 16th to speak to a real person. When I spoke to the real person, they told me my policy was lapsed and they did not care that I was a customer since 2005. They told me they could not reinstate me because I had too many claims (I did not). They could not come up with the claims so then they kept repeating I did not pay on time so I was cancelled.

We have had our cars and home insured with Ameriprise for over 5 years. Though their agents can be polite, they can be rude and immovable, even when they have incorrect information. My husband recently called to verify the policy on an older car that we let our college student use once in a while. He has a motorcycle for 90% of his transportation needs (insured through a different company). By the end of this verification phone call, my husband was accused of lying about the use and garaging of this car. My husband was so upset about this encounter that he removed this car from our Ameriprise policy. We then received 4 or 5 calls a day wanting to "verify the garaging of our 2 other vehicles.”

I possessed an Ameriprise Homeowner policy for over 10 years. I was never late or missed a payment. During this time, I paid them in excess of $12,000 in premiums. I sold my home and called two months prior to the cancellation date to cancel my policy. Ameriprise called me three months later to claim that my policy was never canceled and I owed them $59. Really. I had paid Ameriprise over $12,000 and they want $59 because their employee didn't record my cancellation? I ignored it and 9 months later, a collection agency contacted me for this $59. Was the amount of a tank of gas that important to a multimillion dollar company that they actually paid a collection agency more than $59 to contact me? Ameriprise Customer Service was of no help whatsoever. Each time I called to explain their mistake, they read their script and insisted that I had never notified them of the cancellation. What a waste of my time! Beware!

Our master bathroom floor bubbled up and there is water under the tub and shower and flooring. We came home from AZ and it was there. We filed a claim and after two inspections from the same people, they determined that is was a maintenance issue and will not pay for anything. We have never had a claim before and have paid for years on all insurance. I sent the claim to the office of the insurance commissioner and they pursued. Ameriprise has a clause in their policy that protects them from any little leak. We have to spend at least $12,000 to redo our bathroom. New everything, including flooring, tub, and shower. Ameriprise Insurance is one of the worst insurance companies ever. I will do everything to let everyone know how bad they are. What wouldn’t pay for anything? We will definitely look for another company.

Deceptive practices of Ameriprise Financial - My complaint is about an Ameriprise financial planner who withheld vital information about a fund he endorsed and sold to me. Three years ago, as I was about to retire, I opened an Ameriprise account to obtain professional help in managing my finances. I explained to the Ameriprise advisor that, due to my age, I wished to invest conservatively. He suggested several mutual funds and encouraged investment in Inland American Real Estate Investment Trust, saying that investment in real estate would "round out" my portfolio and that buying shares in a REIT would be much safer than buying individual property.

I was in an MVA on February 13, 2012 and I filed the claim with my insurance company, Allstate. The next day, Allstate Claims called me and I told them my story about the accident and they were helpful on my part as far as filing claim.

My roof and fence were severely damaged in a recent hailstorm. A lot of homes in my neighborhood had damaged roofs as well and most of them have been replaced with new roofs through their respective insurance companies. When I filed a claim with Ameriprise, they sent an adjustor to my house who took detailed images of my roof and all other damage. Ameriprise, on reviewing the pictures from the adjustor, claims that the damage to my roof is caused by "blistering" and not by hail. So that means that out of every home in my neighborhood that suffered roof damage from hail, only mine was somehow caused by "blistering". It is very obvious to me that Ameriprise is trying to get out of paying me for repairing all the damage to my house.

Spencer ** with Ameriprise divulged confidential information about an account to a non-account holder. Spencer told a different client (his friend) how money was being spent/distributed from an account that was not owned by his friend. We own the account and his friend just informed us of the details of how our money was spent. His friend stated information that only Spencer had knowledge of and he also stated explicitly that Spencer told him the information. There have been no consequence for Spencer's actions yet. What can we do about Spencer's actions?

I can't believe Ameriprise is still in business after how I have been treated is any indication of how they do business. First, they didn't watch my account and it ended up losing $30,000. Then they cost me an additional tax bill adding $64,000 when the money was supposed to be tax exempt in the insurance. I was not told of this situation to begin with.

I've had a poorly-performing Ameriprise brokerage account for many years and recently decided to close it. I liquidated everything to cash and then asked for them to send me a check for my money. They charged me a $100 fee to close the account. I spoke with several people, trying to escalate to someone at Ameriprise who could justify the fee. No one could justify the fee, and no one was willing to waive it.

During my divorce I was advised by an Ameriprise advisor to put my money in an account that paid me each month. Long story short, I lost $50,000.00 by following his advice. He/the company should be held accountable. It's probably too long ago (more than five years) but I still have not recovered.

I had a fender bender, and the insurance that I had at the time doubled my rates. I had heard good things about Ameriprise, and when I checked them out, their rates were much lower than what I currently had, so I changed over. But every time a new policy would start, my monthly payment would be larger. When I called and asked them about it, they couldn't answer me. In order to make my monthly payments affordable, I had to drop my uninsured motorist coverage. They insist on automatic deductions from either a checking account or credit card, and won't let you pay online or by mail. Needless to say, I can't wait to be finished with them!

Lisa ** was contacted in order to determine Ameriprise policies regarding Fiduciary Responsibility with clients. A satellite office of Ameriprise violated said responsibility by transfer of financial accounts from local office to headquarters without client approval or knowledge, and charging client for professional services. Two certified return mail letters have been written to Ameriprise, Lisa ** since 21 September for transfer of accounts that occurred on July 28 by one Matthew ** of Toledo, Ohio.

I was in a car accident and made a claim. I was told that if I used their preferred auto body shop I would receive $100 discount on my deductible. I used their only preferred shop in my area. A year later the paint was peeling off on all of the panels that the shop repaired.

The first of the year, Ameriprise began charging a $20 per quarter fee from my investment account. It is not clear how they informed clients of this new charge because I didn't realize it until the charge was made. I told them that it was unacceptable to me and since they would be charging almost 15% of the dividends I received in the account, I would be closing my account. They then charged me $100 to close the account.

Mr. Dale ** in Eugene, Oregon, intentionally breached his contract and did not honor his financial obligations. I did not want to be the person who posted a comment like this, but I felt like I needed to let everyone know as I would hate for another person to get burned by this financial advisor.

Ten year ago, my husband and I went to American Express financial advisors, because my husband was preparing to retire. We went there to find out the best thing to do with our stocks and investments, once we retired. To make a long story short, we wound up being sold a variable life insurance/investment policy, in lieu of the spousal retirement benefit that we would have gotten from GE. We were told that if we took the spousal retirement option from GE, and I passed away before my husband did, the monthly deduction from my husband's pension, would never stop, even if I passed away first.

About 16 years ago, my husband purchased a Universal Life insurance policy to help me and our family when he dies. My husband is a 100% disabled veteran and 10 years older than myself. We paid $450.00 a month faithfully. At one point, I noticed that the direct withdrawal was not being made by Ameriprise. I called and was told that the dividends were paying it. I asked that the withdrawal still be made to build the fund; it was started up again. I also withdrew (I think) $7000 once for home repairs. When I asked about repaying that, I was told I didn't have to, that it was my money.

I have an umbrella policy with this insurance company. I called originally because I have a crack on my windshield. I was told by the customer service that they don't cover glass damage in New Jersey. They ask me if I wanted to put a claim which would affect my $500 deductible. Since the damage was minor I thought it could be fixed. I found out the next day that it could be fixed for free as part of my comprehensive policy, but by that time, the damage has spread from 1/2 inch to about 10 inches.

My father bought a $110k "Universal Life" policy and rates increased yearly to over $1000 a month. After we investigated, we found out if a claim is submitted, the policy would only be 1/3 of value - if that. The broker would not respond via telephone or mail for past few months but the secretary said that the best way to contact was by email (my 83-year-old father does not know computers!). Family recently was in progress changing to another service and Ameriprise is dragging their feet.

I requested my withdrawal of my 401K Plan with Ameriprise Financial. I requested this on 10/14/09. I was told by Piyush on that same day that it would not be a problem and that I would be receiving my full balance withdrawal within 7 days. And I specifically stated I need it for my mortgage, because I am close to foreclosure. My bank is waiting for this money. They sent a collection agent to my home, and I showed them the Ameriprise paperwork showing that the transaction from Ameriprise was being processed. This money would be used specifically for my mortgage payment.

I worked for Ameriprise and they are a selling organization. The "advisers" don’t have any education in finance and are trained often by freshly minted college or even high school grads. It was pathetic, the only thing they did is teach how to corner and sell useless plans and mediocre products. As an MBA, I had a great advantage and that helped me tremendously but they provided no guidance. All they wanted was for the advisers to sell financial plans, Variable Universal Life insurance and annuities.

Five months ago my friend passed away and left her finace and myself beneficiaries to her accounts with Ameriprise Financial. This was not a life insurance policy. They refuse to hand over the accounts. They want the death certificate to read it was not a homicide. The autopsy report wasn't sufficient nor was the amended death certificate. The doctors have said this wasn't a homicide, but the actual cause of death is undetermined.

My wife and I have an Amerprise account with her brother listed as our Financial Advisor. In an email we received from him on Friday lists many slanderous and distributing comments. My biggest concern was his disclosure of personal medical information with Ameriprise corporate. I feel that this information is strictly private and confidential and concerned that Mr. F disclosed this information within Ameriprise without my consent. Any thoughts or ideas would be greatly appreciated. I do not believe my personal medical information is appropriate for any conversation within Ameriprise.

Ameriprise is all over asking for ANYONE with a pulse to come be a financial planner, using the pitch No experience necessary. Last year, they even tried to recruit my friend who has a degree in AGRICULTURE! She knows NOTHING about finance! I was young and stupid and out of college and got several harrassing calls from Amy Limas-Hanson, finally agreeing to come in. I bought their BS hook, line and sinker.

In November 2006 my wife (8 months pregnant), my 73 year old mother-in-law and myself were in a automobile accident and suffered some serious injuries. I had purchased the medical rider for my policy covering up to $50k of medical bills. Only my wife has needed extended treatment (2x month physical therapy) and have only used about $9k of the total coverage.

I received a post card in the mail for a free no obligation financial planning pamphlet. I sent it back but said that I did not want to be contacted by Ameriprise Financial (I am on the do not call list). I received repeated harassing phone calls and finally agreed to meet with the financial adviser who was aggressive and unyielding. I ended up investing my 401K's in an annuity with them. He did not explain the terms of the annuity including any surrender charges and refused to managed my investments according to my express wishes. He was argumentative and even though he eventually agreed to move my funds and requested blatantly to put them where he wanted them. I filed a formal complaint with their compliance department (they are bound by their industry regulations) and they made excuses, didn't address the issue and refused to rectify the situation. I will pursue additional recourse as this company seems to endorses unethical practices.

We filed a bill for medical services for injuries to a patient. She sent it to her carrier, ameriprise auto & home ins. They sent a bill review back, disallowing about 25% of the charges, using explanations such as the procedure code billed is an invalid code for the date of service entered. When we contacted them, I was told the system did not recognized the code. It was a standard billing code used nationwide. they repriced the billing amounts with this explanation; the procedure code referenced by the provider was used more than what is normally expected within the scope of a provider per claim. The code they refer to was used ONCE for a final exam. This is very customary in an injury case. As you can see, the explanations are gibberish and unsupported. the adjuster claimed that their bill review was used on thousands of bills. Our bills are based on worker's compensation fee schedules, so they are among the lowest fees used. Evidently, that isn't low enough, as far as the PAYOR is concerned. We have filed medical malpractice complaints against them, as it is illegal to change billing codes to reduce fees or refuse payment for arbitrary reasons.

My disabled child and myself were involved in a two MVA in October 2007. The driver of the other vehicle was cited. Her insurance company, Ameriprise Auto & Home Insurance, was absolutely horrible to deal with. For the first couple weeks I tried to work out an agreement with them, since my vehicle was a total loss. They offered me much less than the value of the car. I told them this was not acceptable, that I was not asking for anything above and beyond the value of the car, but just a fair price so that I may purchase something of similar prior condition, value, and mileage. They lied to me and told me that they had actually offered me a very generous amount, and that I should not turn it down. I contacted my attorney to get her involved. She found that the value of my car was much higher than they had admitted to me. My attorney was unable to reach Jill, the professional handling my claim, for nearly two weeks. By the time everything was agreed upon, it was mid-December 2007. I was told to mail my car title to them. I did so.

I am a Certified Financial Planner and decided to apply for a position with Ameriprise. The interview was based solely on testing my ability to sell something to a client that they did not want. They used a sales pitch for travel rather than financial, using an employee to test how I could convince them to go on a trip that they did not want. They figured if I could do this, financial conviction would be no problem. STAY AWAY FROM THESE PEOPLE. There are many honest CFP's out there; don't use Ameriprise.

In March of '07 I was diagnosed with M.S. and could no longer work. I had a 401K which I wanted to move. I contacted Ameriprise, and they sent an agent. My wife and I decide to have him manage our money. The market started going down, and I contacted the agent. He came to my home and told me that he had been promoted and was giving our money back. He also said that he would still manage our money. He also said that he would move some investments around, but never did. Since then I have e-mailed him several times with no response. As of 1/14/08 my portfolio is down $9,200.00. That is about 15% of my life savings

On 02/28/2007 I called my insurance company to add another vehicle to my policy and they told me I involved in an accident on 07/06/2006 and they put me at fault and paid to two other parties. This company didn't contact me before or after they made decision on this claim. I traveled on a three-lane road and one guy switched in front of me so fast and hit on the car in front of me. It causes lot of damages to his front end and other cars rear end. Since he took the space in front of me, my car barley hit his rear after I stopped my car. There were no damages on the front end of my car or his car's rear end. When I spoke with my insurance company they told I'm only responsible for the rear end damages of the car in front of me. I believed them and didn't follow up the claim since there were no damages on my car or other party’s rear end. This insurance company didn't inform me any thing else until I called and add another car to this policy. Ameriprise didn't even inform me before or after they settled this claim. Now my driving history looks bad and I have no idea how to fight with these people.

Back in April 15-2004 I opened an IRA Mutual Fund with American Express Financial Advisors Inc, In Plantation,Fla office. Now the Ameriprise Financial Services, Inc. After 4 months my financial advisor was promoted and from this time it has been a roller coaster dealing with Ameriprise. Since this change for more financial advisors were allocated to handle my account and each time I have asked to review and change my portfolio as the market has changed since the origination time, no one of the assigned advisors have done so.

This company has totally mishandled my brokerage account. I am on my fourth financial advisor! I am not making near the return promised and the most recent blunder was a returned check on my account. The check was for $1,000.00. I have more than $11,000.00 in my account. The return letter said I have zero!! I then went online since it is after hours and see my account information has not been updated since 1/20/06 and my old advisor is listed!! They are now ruining my credit and they need to make this right and let me close my account!!