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Financial planning is the right idea for today's consumer, execution isn't always there

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

I worked at Ameriprise full-time for more than 5 years

Pros

In concept, the financial planning model is ideal, especially in this economy.
The overall business model of a broker/dealer, asset manager and insurance company makes sense as the three elements support each other.

Cons

Not all the advisors are true financial planners, and even those that are can't always handle too much complexity.
Senior management is too disconnected from the rank in file organization.
By distancing themselves from the insurance element of the business, they're missing a great opportunity to bring balance to client portfolios through guaranteed accounts and the tax and saving benefits of whole life insurance.

Advice to ManagementAdvice

Be more visible across the organization on a day to day basis. Learn from the time you spend in the trenches, and use that insight to help guide corporate strategy.

Recommends
Negative Outlook
Disapproves of CEO

Other Reviews for Ameriprise

  1. 2 people found this helpful  

    Rewarding if you are prepared to work very hard and be exhausted at times

    • 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 for more than a year

    Pros

    It is a wonderful place to get licensed and see if being a financial advisor is what you want to do. Once you have a book of business you can scale back a bit. If you do not want to be an advisor, it is a good path to other positions at corporate HQ.

    Cons

    Colleagues drop like flies-retention rate from training class after 1st year was 20%

    Advice to ManagementAdvice

    Find out what is producing the high turnover and reduce it. It leads to poor client experience and increased costs. Have more realistic training and teach advisors how to make enough money to retain their jobs . Realize that hiring large numbers will not fill gap caused by huge turnover

    Recommends
    Neutral Outlook
    Approves of CEO
  2. 2 people found this helpful  

    Great place to start a career

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

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

    Pros

    While this may change from department to department. I have found the organization to be supportive of career growth and committed to retaining high performers. The minneapolis campus has a wide array of support services on site.

    Cons

    Being a financial services firms there is layers upon layers of rules and regulations. More a reflection of the industry than the firm.

    Advice to ManagementAdvice

    Engage with employees at all levels of the organization. Senior level leaders are very insulated.

    Recommends
    Positive Outlook
    Approves of CEO
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