Ameriprise, which originated in the 1980’s, has grown to be among the largest financial service companies of its kind. Their overall goal is to help people build dreams and achieve goals.
They are staffed with over 10,000 financial advisors whom provide financial planning and give advice to those who are seeking guidance to set up a strategically sound financial portfolio.
How Does it Work?
Clients who sign up for an account with Ameriprise financial can work with an advisor directly through the site or can search for local advisors. As a new client you may request a consultation to discuss what you want to achieve and how the advisor would get you there.
Through your Ameriprise account, you gain 24/7 online access to all of your accounts and can even conduct your own monetary transactions.
These include paying bill, place trades, viewing account balances, and tracking your portfolio. Their fee-based services range from cash management, lending, investing, tax planning and trading.
Many tools and resources are available through their site and you can access a wealth of information on finances, retirement, taxes, and savings. Within the library there are numerous articles, news releases, and reference materials to browse.
While Ameriprise has gained somewhat of a negative reputation, one of its competitors, Vanguard, has been gaining popularity.
Much of the negativity surrounding Ameriprise’s business operation stems from the amount of money people have lost in their investments with Ameriprise. The issue lies with their investment strategy, which can be considered as a “one size fits all” type plan.
While different advisors have different approaches and different training; finding one that has the specific knowledge to help you achieve what you want should not be taken lightly.
Researching each of your potential advisors’ portfolio options, investment strategies and monetary gains takes time.
Before committing to an advisor, read the fine print within the contract for questionable fees in their payment structure.
Ameriprise had a vast number of clients who had no idea what they signed up for and were surprised by some of the additional fees they encountered.
If you have any experience with Ameriprise Financial or their services, please leave your reviews below.
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