Ameriprise
3.1 of 5 466 reviews
www.ameriprise.com Minneapolis, MN 5000+ Employees

Ameriprise Reviews

Updated Apr 8, 2014
All Employees Current Employees Only

3.1 466 reviews

                             

75% Approve of the CEO

Ameriprise Chairman & CEO Jim Cracchiolo

Jim Cracchiolo

(288 ratings)

54% of employees recommend this company to a friend
466 Employee Reviews
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Review Highlights

Pros:
  • "A diverse group of businesses; good work/life balance; growing into new markets"
    in 27 reviews
  • "Great place to begin a career in financial planning because of the base salary"
    in 26 reviews
Cons:
  • "Work/life balance in technology area can be hard to maintain"
    in 14 reviews
  • "You will have to work long hours to meet the goals set for you"
    in 16 reviews
  • Show more review highlights

Reviews

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  • Approves of CEO

 

Great opportunities to do true textbook corporate finance

Senior Director (Current Employee)
Minneapolis, MN

I have been working at Ameriprise full-time for more than 8 years

ProsGood management within the finance organization, high investment in finance

ConsPoor organizational and process leadership

Advice to Senior ManagementNo comment

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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5 people found this helpful  

A very toxic work environment

Executive (Current Employee)
Minneapolis, MN

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

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

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1 person found this helpful  

Great place to learn the financial planning and investment industry.

Paraplanner (Former Employee)
San Diego, CA

I worked at Ameriprise full-time for more than 3 years

ProsAccess to training and technology is second to none.
The advisor I worked for was a terrific mentor.

ConsMost offices are independent franchises so the paraplanner experience will vary depending on the advisor that hires you.
The home office call center can be frustrating to work with and is often unhelpful.
Compliance is overbearing and literally monitors everything you type.

Advice to Senior ManagementImprove your call center employees and allow advisors to offer more non-proprietary products.

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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Ameriprise Financial allowed me to grow and properly learn about the financial industry.

Marketing Assistant (Current Employee)
Pleasanton, CA

I have been working at Ameriprise as an intern for less than a year

ProsGood leadership, structured, strong company culture, good work environment

ConsNone at the moment; just the finanical industry is a difficult and restricted industry to work in

Yes, I would recommend this company to a friend – I'm optimistic about the outlook for this company

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4 people found this helpful  

The AAC is a total wreck

AAC Financial Advisor (Current Employee)
Minneapolis, MN

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

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

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2 people found this helpful  

AAC Advisor Experience, Now CRM

xFinancial Advisor (Former Employee)
Minneapolis, MN

I worked at Ameriprise full-time for more than 3 years

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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Great place to work

Anonymous Employee (Current Employee)

I have been working at Ameriprise

ProsGood opportunities for career growth

ConsNeed more cross org collaboration

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3 people found this helpful  

It has been a wild ride

AAC Financial Advisor (Current Employee)
Minneapolis, MN

I have been working at Ameriprise full-time for more than 5 years

ProsGreat learning opportunities to meet people and learn product. The training is mostly good in the beginning but it does drop off significantly over time.

ConsStrategic direction of my division changed radically and quickly a number of times. Overall the company seems clear, but my division appears to be all over the place.

Advice to Senior ManagementFocus on the people that produce results and quit spending money on things that don't drive the core business.

Yes, I would recommend this company to a friend – I'm not optimistic about the outlook for this company

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Good opportunity for experienced Advisor with existing book of business

Financial Advisor (Former Employee)
Birmingham, AL

I worked at Ameriprise full-time for more than 3 years

ProsNo huge focus on proprietary products. Objective needs analysis and ability to offer decent wealth management products. Good company for franchise advisors.

ConsToo much corporate mandating and changing to fix things that aren't broken. Lower than average payout and comp grid way too complex and constantly changing. Hard to maintain focus on client relationships. Too much paper and not enough streamlined technology.

Advice to Senior ManagementFire needless corporate bureacracy and be responsive and supportive to performing advisors. Adopt more streamlined technology.

No, I would not recommend this company to a friend

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good, client focused

Financial Advisor (Current Employee)

I have been working at Ameriprise for more than 10 years

Prosmarketing is great, access to information is good. Even though the company is public, it has a small company feel and treats the FAs well.

Conspay for FAs cut over the past 2 years. Not as bad as Wires, but headed in that direction. I hope they stop while they are ahead.

Advice to Senior ManagementDon't try to be like the Wires.. The company has a good thing with financial planning and customer focus...don't change. Keep the pay the same for FAs

Yes, I would recommend this company to a friend

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