Ameriprise Financial Services, LLC

CRD#6363
Investment Advisor Firm

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Overview

Ameriprise Financial Services, LLC operates as an advisory firm headquartered in Minneapolis, Minnesota. It administers $313.3 billion in total assets across 1.5 million accounts, placing it among the largest investment advisory firms in the United States by assets under management (AUM). It has a very large team of 13,556 employees, twelve thousand, forty-four of whom are financial advisors. Ameriprise Financial Services, LLC does not act as a registered broker-dealer, meaning the advisor is not able to buy and sell securities for its clients' and own accounts and instead has to go through a broker-dealer company to do so. Securities are tradable fiscal investments like options, bonds and stocks.

Ameriprise Financial Services, LLC manages more than half of the company's client assets on a discretionary basis. Discretionary management is a structure in which a portfolio manager makes transaction judgments for the client's account without requiring client permission. It also oversees 739,273 non-discretionary accounts totaling $172.3 billion in AUM. The firm's typical account size is $210,414. The average financial advisor at Ameriprise Financial Services, LLC manages about 124 client accounts.

Ameriprise Financial Services, LLC's central office is at 707 2Nd Avenue South, Minneapolis, Minnesota 55402. It is allowed to provide services to clients across 49 U.S. states and territories.

Assets Under Management

$313.3 billion

Number of Advisors

12,044

Disclosures

No

Office Location

707 2Nd Avenue South
Minneapolis, MN 55402

Ameriprise Financial Services, LLC by the Numbers

Total Assets Under Management

$313.3 billion

National Average: $3.7 billion
Total Number of Employees

13,556

National Average: 29
Total Number of Accounts

1,488,886

National Average: 2,073
Average Account Size

$210.4 thousand

National Average: $1.8 million

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Products and Services

Ameriprise Financial Services, LLC provides a variety of financial services, including financial planning services, portfolio management for individuals and small businesses, portfolio management for institutional clients, pension consulting services, selection of other advisers, publication of newsletters, educational seminars and other services. In the past financial year, Ameriprise Financial Services, LLC provided financial planning services to 306000 of its clients. Ameriprise Financial Services, LLC is engaged in selling products or offering services apart from investment advice to its customers. Ameriprise Financial Services, LLC is affiliated with a number of other companies in the financial services industry, including with a broker-dealer or securities dealer, banking or thrift institution, trust company, insurance company or agency and commodity pool advisor.

Core Advisor Services

  • Offered by 45% of firms

    Financial Planning Services

    This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.

  • Offered by 62% of firms

    Portfolio Management

    This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.

  • Find a firm that offers this service

    Market Timing Services

    This is the practice of attempting to make short-term profits on investments by buying low and selling high.

Other Services

  • Offered by 23% of firms

    Selection of Other Advisors

    This is the firm's assistance with choosing other advisors to work with who may have different specialties.

  • Offered by 4% of firms

    Publication of Periodicals

    This is the publication of various financial education materials.

  • Offered by 10% of firms

    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

Fees for financial advice usually vary depending on the financial services provided. Fees billed by Ameriprise Financial Services, LLC likely consist of any combination of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are provided by the firm.

Available

  • Offered by 74% of firms

    Percentage of Assets

    Show Explanation

    This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.

  • Offered by 35% of firms

    Hourly

    Show Explanation

    Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.

Unavailable

  • Find one of the 2% of firms that offer this fee type

    Commissions

    Show Explanation

    Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.

  • Find one of the 17% of firms that offer this fee type

    Performance-based

    Show Explanation

    Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.

  • Find one of the 1% of firms that offer this fee type

    Subscription

    Show Explanation

    Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

The company works with a broad range of investors. The firm provides services to retail investors, high net worth investors, pension plans, charitable organizations, state or municipal government entities, insurance companies, corporations and other. Out of its 1,488,886 accounts, Ameriprise Financial Services, LLC's largest client group is retail investors, but it also manages money for 62,780 high-net-worth individuals. The SEC defines a high-net-worth individual as an investor who has at least $750,000 in AUM or a net worth of at least $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). Just 2% of the company's clients are represented by non-U.S. persons.

  • High-Net-Worth Individuals* - 6.42%
  • Other Individuals - 92.58%
  • Corporations - 0.83%
  • Charitable Organizations - 0.17%

* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.

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Disclosures

Ameriprise Financial Services, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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Financial Advisors at Ameriprise Financial Services, LLC

Terri Starliper
Glen Allen, VA
John Lewis
Roseville, CA
Stacey Heikkila
Conshohocken, PA
Milan Smado
Richardson, TX
Mark Leach
Lutherville Timonium, MD
Bennett Hatten
Chesterfield, MO
Dennis Ahlm
Rogers, MN
Jo Kovacich
Hibbing, MN
Jason Helbig
Vancouver, WA

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This content was compiled from the SEC and FINRA

Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the certification marks CFP® and CERTIFIED FINANCIAL PLANNER™ in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.