Ameriprise

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Ameriprise Reviews in Minneapolis-St. Paul, MN

Updated February 6, 2015
Updated February 6, 2015
26 Reviews
1.0
26 Reviews
Rating Trends

Recommend to a friend
Approve of CEO
Ameriprise Chairman & CEO Jim Cracchiolo
Jim Cracchiolo
26 Ratings

Review Highlights

Pros
  • Wonderful person who values work-life balance and wants to compensate me fairly (in 39 reviews)

  • Great place to begin a career in financial planning because of the base salary (in 31 reviews)


Cons
  • Work-life balance could be improved by moving afternoon shifts to morning (in 21 reviews)

  • You will have to work long hours to meet the goals set for you (in 19 reviews)

More Highlights

26 Employee Reviews Back to all Reviews

Sort: Popular Rating Date
  1. 5 people found this helpful  

    Any job is better than an AAC job

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - AAC Financial Advisor in Minneapolis, MN
    Current Employee - AAC Financial Advisor in Minneapolis, MN

    I have been working at Ameriprise

    Pros

    They pay for your license. Sad to say that's it.

    Cons

    The ameriprise advisor center is a joke. They decided a year ago to shove financial plans down all of their clients throats. Most of the clientele of the aac don't warrant a financial plan. Its a stressful churn and burn call center focused on their profit not their advisors or god forbid their clients. If you do what they ask ofyou you will go home feeling dissapointed in yourself at the end of the day. Unless you are really hard up avoid this place.

    Advice to ManagementAdvice

    Fire all the AAC "leaders" (management)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  2. 1 person found this helpful  

    Service Coach

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Middle Office Coach in Minneapolis, MN
    Current Employee - Middle Office Coach in Minneapolis, MN

    I have been working at Ameriprise

    Pros

    Great benefits. Cultural diversity and respect. Leadership that seems to care about employees.
    Suppotive of work/life balance.
    Senior leaders model integrity and respect.

    Cons

    Often too much work to do. New initiatives and processes can sometimes be rolled out before engaging necessary key stake holders. With scrambling to fix problems that had not been anticipated. Probably a normal corporate problem

    Recommends
    Positive Outlook
    Approves of CEO
  3. 2 people found this helpful  

    very un co-operative people

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Contractor - Business Analyst in Minneapolis, MN
    Current Contractor - Business Analyst in Minneapolis, MN

    I have been working at Ameriprise as a contractor (less than a year)

    Pros

    No Pros No pros No pros

    Cons

    Uncooperative people
    no work life balance
    they make you work like slaves

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  5. 5 people found this helpful  

    Ameriprise doesn't value their employees

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Senior Project Manager in Minneapolis, MN
    Current Employee - Senior Project Manager in Minneapolis, MN

    I have been working at Ameriprise full-time (more than 10 years)

    Pros

    The benefits were the best part of the job.

    Cons

    No work-life balance - expect 60+ hours a week to meet goals. Toxic / hostile work environment - finger pointing, lying and back stabbing to defect attention from real issues. Advancement based on ability to quote meaningless political-speak rather than results. Technology leadership believes they can run the business better than the business units. Technology department acts like they are a profit center - charging business units more than actual labor rate to build a slush fund to execute their own projects without business approval, often times to the detriment of the business. Executive leadership blinded by small details and not seeing the big picture - i.e., offshore labor costs are 30% cheaper than onshore, but they don't want to hear that it take twice as many offshore resources and takes twice as long to complete a task. Executive leaderships has only two strategies to increase revenues - replace older employees with younger cheaper employees, and buy other more successful firms.

    Advice to ManagementAdvice

    There is no point, they are reaching their personal objectives, just take a look at how much of the profits they take for themselves.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  6. 7 people found this helpful  

    AAC- "Iceberg Dead Ahead!"

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - AAC Financial Advisor in Minneapolis, MN
    Former Employee - AAC Financial Advisor in Minneapolis, MN

    I worked at Ameriprise full-time (less than a year)

    Pros

    Some decent guys to work with. mediocrity is encouraged if you like that.

    Cons

    Where to start... This is a bad, bad, place. I have never seen management as toxic as this place. Management recruited budding advisors nationwide to join the AAC in Minneapolis, only to find out that a week into the role, they had reorganized and cut pay over 50% without any prior notice from Ameriprise. The people running this place pride themselves on "managing out" solid employees as anyone who questions this foolish plan to destroy independent relationships with clients is deemed "not on board". Next, the employees who are left have turned to substance abuse during work hours as a means of self-medicating against this awful place. Management is a bunch of failed previous advisors who are all in their 20s and there is little to no respect given to them as they seem to use their title as a dating service and routinely are seen absolutely trashed at bars on the weekends by fellow employees. The AAC management pressures advisors to sell unsuitable products to clients on every call and only pushes their Prop. products= extreme conflict of interest. Hard work is not rewarded at all and there in ZERO training in this role. The "training department" feels that rounding up a room of new hires and talking sports for an hour has effectively trained these new employees on how to sell investments?

    Advice to ManagementAdvice

    This is to Upper Management- Realize what is going on in a rather large part of your organization. The kids that you have put your faith in to "lead" routinely do not and instead promote based on who they are sleeping with. Due to the strategic outlook for this department, the AAC has effectively been run straight into an iceberg and any talented employee has reserved their spot on a life boat a.k.a. a new career where you will be treated with dignity and honesty as an employer, while also earning a livable wage. You are wondering why teams are hitting 20% of targets every quarter? Here's the answer, when you promote incompetence and laziness into selling roles, they are not "magically going to sell". Create an incentive for employees to foster growth and have a zero tolerance policy for managers who have had multiple complaints to HR due to their lack of professionalism and overall inability to lead. Reward talent, not tenure and political extracurricular activities that have no bearing in a sales organization.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  7. 8 people found this helpful  

    A very toxic work environment

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Executive in Minneapolis, MN
    Current Employee - Executive in Minneapolis, MN

    I have been working at Ameriprise full-time (more than a year)

    Pros

    The salary and benefits are excellent

    Cons

    The job description may not identify series 7 as a qualification requirement, but in most positions it will become a mandatory expectation to move ahead in this company. The culture here is passive aggressive, a survival skill to get ahead or retain your current position.

    Advice to ManagementAdvice

    The marketing department is a snake pit and managed with intimidation.

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
  8. 6 people found this helpful  

    AAC Advisor Experience, Now CRM

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - XFinancial Advisor in Minneapolis, MN
    Former Employee - XFinancial Advisor in Minneapolis, MN

    I worked at Ameriprise full-time (more than 3 years)

    Pros

    There has been some very good training at times, and base salary.

    Cons

    To be clear, this is a career stop, not a career. Anyone seeking to build a career at Ameriprise should seriously consider all their options.

    <b>What to expect:</b>

    *Yearly reduction in pay
    *Constant change in terms of employment
    *Dishonest employment practices
    *Incompetent leadership

    Management directs client relationship manager recommendations, every client will experience a hi pressure sales call. Clients who engage in planning, will all receive managements predetermined recommendations:

    <b>*Save/Retire/Accumulate plan
    *Disability Income Insurance
    *Annuity
    *A-share Loaded mutual funds</b>
    *REITS

    <I>Except by coincidence, all clients who engage with an AAC relationship will be worse off in the end.</I>

    <b>*STOP*</b>

    *OMG never ever by a non-traded REIT
    *Never ever pay for mutual fund A-shares, or a LOAD, EVER!
    *You do not need DI if your employer provides it, most cases your private DI will reduce your work benefit resulting in no gain. Don't waste your money!
    *You don't need an annuity with living benefits, they are criminally expensive, and only benefit the sales organization, in many cases only 100k of your annuity is insured!

    <b>*START*</b>
    <b>Real Financial Advisors Recommend</b>
    *Buy Term, and invest in SPS
    *Only self insured professionals need Disability Insurance

    <i>The AAC used to be a sales driven segment of Ameriprise. The AAC is now a socially run frat-house where relationships, drinking, and drugs are common culture.</I>

    If you are looking for a quick stop in your career seeking to get your financial licenses, training, and a designation. The Ameriprise AAC is an okay, but <b>VERY</b> risky option.

    Advice to ManagementAdvice

    <b>RESIGN</b>

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  9. 7 people found this helpful  

    The AAC is a total wreck

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - AAC Financial Advisor in Minneapolis, MN
    Current Employee - AAC Financial Advisor in Minneapolis, MN

    I have been working at Ameriprise full-time (more than a year)

    Pros

    Well, there used to be some

    Cons

    The AAC has been re-organized, pay has been cut, and we were forced to accept jobs as secretaries, so that the company wouldn't have to pay unemployment. Management has admitted to this. I used to love working here. Now I have anxiety attacks just thinking about going to work.

    Advice to ManagementAdvice

    Advice? On a website? They don't care what I say face-to-face! They literally want 2/3 of us to quit.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
  10. 3 people found this helpful  

    Varied experience

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Current Employee - Financial Advisor in Minneapolis, MN
    Current Employee - Financial Advisor in Minneapolis, MN

    I have been working at Ameriprise full-time (more than 3 years)

    Pros

    Good people who are very bright

    Cons

    Change is rapid and not thought out well.Employees are simply numbers and their tenure is not a concern. Only their current usefullness

    Advice to ManagementAdvice

    Treat people with respect. Give them the freedom to do well at what they are best at.

    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO
  11. 5 people found this helpful  

    Lies, Lies and more Lies

    • Comp & Benefits
    • Work/Life Balance
    • Senior Management
    • Culture & Values
    • Career Opportunities
    Former Employee - Financial Advisor in Minneapolis, MN
    Former Employee - Financial Advisor in Minneapolis, MN

    I worked at Ameriprise full-time (more than 3 years)

    Pros

    Paid training (albeit by trainers who were failures as advisors), paid licenses, before the change coming if you were a hard worker and knew how to dial you could be successful, multicultural, nice co-workers, used to have overtime, weak would fail, good sales environment, great location downtown, females are given every opportunity to be successful.

    Cons

    Managers are failed advisors (they tried to hire managers from outside the company,because there is no respect for managers who couldn't produce, and this failed) most if not all current managers are weak, managers were given raises while top advisors are being transitioned over to service roles, minimal respect for hard working employees, top 20% of advisors are getting a pay cut while bottom 80% are happy with a higher base, you're not a true advisor you're a service monkey, leads are not handed out fairly, if you kiss ass you are given better opportunities then those who posses higher skill levels.

    Advice to ManagementAdvice

    You're not real managers, you're puppets who couldn't sell in the first place.

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

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