Ameriprise Financial Services, Inc. is a large advisory firm based in Minneapolis. It manages $248.32 billion of regulatory assets for 1,393,263 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.
Ameriprise Financial Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, educational seminars and workshops, and asset allocation services. It prepares financial plans for approximately 297,000 clients. On top of advisory services, the firm doesn't engage in other business activities.
The assets under management (AUM) of Ameriprise Financial Services, Inc. is $248.32 billion. The firm's AUM has grown by 566% since the beginning of its operation, and $3 billion of the total AUM is attributable to clients outside of the United States.
The advisory firm has several streams of revenue. Clients pay Ameriprise Financial Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.
The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Walter S Berman is individuals with 879,274 clients and $177.72 billion of assets under management. Among the 11 most similar advisory firms, Ameriprise Financial Services has the highest percentage of individuals out of all clients.
The amount of regulatory assets under management is $248.32 billion for 929,876 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.
Ameriprise Financial Services doesn't advise any private funds.
The company employs 13,718 people that are either part- or full-time employees. 94 percent of the employees work as investment advisers or researchers. 10,799 employees are registered as investment adviser representatives with the state securities authorities.
There are 116 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.
Walter S Berman has been acting as President since 1 May 2004. Joseph Daniel Fleming joined the executive team most recently as the Vice President And Chief Compliance Officer.
The principal office where Ameriprise Financial Services, Inc. performs its advisory services is located at 707 2 Nd Avenue South, Minneapolis, MN 55402 The mailing address of the firm is 5227 Ameriprise Financial Center, Minneapolis, MN 55474. An additional office of the firm is in Windermere, FL. It doesn’t run an office outside of the United States.
You can reach the main office by calling the phone number 612-671-3131 or by fax 612-671-4929. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at ameriprise.com.