Ameriprise

  www.ameriprise.com
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Ameriprise Reviews

Updated Jul 14, 2014
All Employees Current Employees Only

3.1 523 reviews

74% Approve of the CEO

Ameriprise Chairman & CEO Jim Cracchiolo

Jim Cracchiolo

(309 ratings)

54% of employees recommend this company to a friend

Review Highlights

Pros
  • Wonderful person who values work-life balance and wants to compensate me fairly(in 35 reviews)

  • Gained understanding of the financial planning industry(in 25 reviews)


Cons
  • Work-life balance could be improved by moving afternoon shifts to morning(in 17 reviews)

  • You will have to work long hours to meet the goals set for you(in 18 reviews)

62 Employee Reviews Back to all reviews
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    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • Disapproves of CEO

     

    AAC They are clueless....not in touch with reality.VERY LOW PAY !

    AAC Financial Advisor (Current Employee) Las Vegas, NV

    ProsHelp with getting licences...p/c correct and nice co workers...

    ConsPay changes EVERY COUPLE OF MONTHS and the elimination of commission and over time. Expected to work 50-60 hours a week.Bonus are very subjective to mangers discretion and your team mates performance which most are clueless..micro managed to death.Stress level is unbearable cramming financial plans down poor client throats is main focus and not for clients true needs.Turn over is tremendous..Managers are running it like a highschool .Watching your conversations and lunch breaks/bathroom...Upper management is down right oppressive, keeps salespeople in the dark and belittle them when you ask questions such as pay structure or goals

    Advice to Senior ManagementTreat the staff and the clients like you should.. no long term reason to stay Great workers leave and left with
    sub-par advisers .

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

     

    Don't do it.

    Analyst (Current Employee) Boston, MA

    ProsDental plan has allow 4 cleanings/year

    ConsClique-y/Gossip-y company, no work life balance, senior management unaware of mid-level Director level actions, coming/goings. Company promotes only those that management likes versus work effort. Admins are promoted to Dir/Manager positions to give weather reports. Terrible pay(depends who one works for), mediocre benefits, poor work environment, can be loud, disturbing. If one is a secretary, they will do great.

    Advice to Senior ManagementNone. keep the bad together

    No, I would not recommend this company to a friend

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

     

    Avoid!

    Financial Advisor (Former Employee) Vienna, VA

    ProsAbility to be your own boss in the franchise channel.

    ConsThe senior level leadership are more concerned with their paychecks and the shareholders than they are yours. There is direct conflict between their employee and franchise channels that make no sense and make it difficult to become a franchisee.

    Advice to Senior ManagementStart taking care of your advisors to stop the hemorrhaging of good talent.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

     

    Bureaucratic nightmare, no employee engagement

    Anonymous Employee (Current Employee)

    ProsSomeday this company will go under

    ConsLow compensation compared to competitors, little to no employee engagement or outreach

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

    5 people found this helpful  

    AAC- "Iceberg Dead Ahead!"

    AAC Financial Advisor (Former Employee) Minneapolis, MN

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

    ConsWhere 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 Senior ManagementThis 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.

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

    1 person found this helpful  

    Employees Rarely Last A Year

    Anonymous Employee (Former Employee) Madison, WI

    ProsExposure to a fairly successful financial services practice.

    ConsNegative, high turnover, closed-minded, unprofessional environment.

    Advice to Senior ManagementEmployees don't thrive in an environment in which nothing they do is valued. When employees have nothing to gain and can only lose, they will not bring fresh ideas or quality work to the table. They will do the bare minimum in fear of making mistakes and being punished.

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    1 person found this helpful  

    Tiresome

    Client Service Coordinator (Current Employee) Campbell, CA

    ProsThe idea of the position is great. Helping advisors in turn helping clients invest and have more understanding and control over their own money and future.

    Cons-Political BS
    -Passive Aggressive Behavior
    -Blame game towards individuals, instead of taking things as a team

    Advice to Senior ManagementPlease listen and work towards providing the absolute best for support

    No, I would not recommend this company to a friend

    • Culture & Values
    • Work/Life Balance
    • Senior Management
    • Comp & Benefits
    • Career Opportunities
    • No Opinion of CEO

    6 people found this helpful  

    A very toxic work environment

    Executive (Current Employee) Minneapolis, MN

    ProsThe salary and benefits are excellent

    ConsThe 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 Senior ManagementThe marketing department is a snake pit and managed with intimidation.

    No, I would not recommend this company to a friend – I'm optimistic about the outlook for this company

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

    6 people found this helpful  

    The AAC is a total wreck

    AAC Financial Advisor (Current Employee) Minneapolis, MN

    ProsWell, there used to be some

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

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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

    4 people found this helpful  

    AAC Advisor Experience, Now CRM

    xFinancial Advisor (Former Employee) Minneapolis, MN

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

    ConsTo 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 Senior Management<b>RESIGN</b>

    No, I would not recommend this company to a friend – I'm not optimistic about the outlook for this company

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