Ameriprise Reviews

Updated June 29, 2015
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Ameriprise Chairman & CEO Jim Cracchiolo
Jim Cracchiolo
19 Ratings

Pros
  • Good work life balance culture within the company (in 39 reviews)

  • This internship is usually help by someone looking into joining the financial planning or a related field (in 31 reviews)

Cons
  • No work-life balance - expect 60 (in 21 reviews)

  • Long hours, no work life balance (in 19 reviews)

More Pros and Cons

29 Employee Reviews

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  1. Dump

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

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

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    There are no pros to speak of.

    Cons

    Magic tricks, and lots of broken promises.

    Advice to Management

    You have no integrity.


  2. Helpful (6)

    Stay away from technology positions.

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

    I have been working at Ameriprise

    Doesn't Recommend
    Negative Outlook
    Approves of CEO
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    Pros

    Good pay and benefits, flexible work schedule.

    Cons

    The technology organization at Ameriprise is, by leaderships own admission, immature and flawed. There is a great deal of mistrust and raillery between departments within IT that over the years has produced an environment more akin to a elementary class than a fortune 500 company. Instead of working together as a whole for the good of the business each department see all others as rivals. This leads to a daily infighting about problem ownership, project work, root cause analysis etc. The problem is exacerbated by executive level micromanaging. It’s standard practice that when an incident occurs leaders from the Sr. executive level down join bridge calls along with the engineers attempting to fix the issue. These calls more often than not result in leaders literally screaming at each other and at the engineers attempting to fix the problem. Almost all new employees have the same reaction “I can’t believe people treat each other that way”. The company takes pride in completing annual employee engagement surveys which show these issues and technology also has the highest rate of turnover in the company. To the credit of Ameriprise they have attempted to bring in consultants to help, and have sent leadership off to training to do trust falls and build relationships, but the efforts have not brought about any change. While the pay and benefits are good I would not recommend any position within IT.

    Advice to Management

    Change needs to be driven from the top down. Instead of attempting to control all aspects with new process and procedures put trust in the employees to do a good job.


  3. Helpful (6)

    Worked in Technology. Info Security team had people quitting as fast as possible.

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

    I have been working at Ameriprise

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    Pros

    Compensation, nice offices at corporate, benefits are ok

    Cons

    Micromanaging leadership, culture sucks big time in IT. The CIO will be in front of the board explaining why IT people are quitting in droves soon!

    Advice to Management

    Don't micromanage people, stand up for your employees being tossed under the bus by their co workers. Don't be hypocrites. Let people screw up sometimes so they can learn! People make mistakes even when they work their hardest every day. If you screw up you shouldn't have to worry about being fired!


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  5. Helpful (7)

    Any job is better than an AAC job

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

    I have been working at Ameriprise

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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 Management

    Fire all the AAC "leaders" (management)


  6. Helpful (2)

    Service Coach

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

    I have been working at Ameriprise

    Recommends
    Positive Outlook
    Approves of CEO
    Recommends
    Positive Outlook
    Approves of CEO

    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


  7. Helpful (4)

    very un co-operative people

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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


  8. Helpful (9)

    Ameriprise doesn't value their employees

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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 Management

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


  9. Helpful (8)

    AAC- "Iceberg Dead Ahead!"

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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 Management

    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.


  10. Helpful (10)

    A very toxic work environment

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

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

    Doesn't Recommend
    Positive Outlook
    No opinion of CEO
    Doesn't Recommend
    Positive Outlook
    No opinion of CEO

    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 Management

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


  11. Helpful (8)

    The AAC is a total wreck

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    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)

    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    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 Management

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



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