Ameriprise Financial Services, Inc. (Minneapolis)

Name: Ameriprise Financial Services, Inc.
Address: 707 2 Nd Avenue South, Minneapolis, MN, 55402
Telephone: 612-671-3131

Ameriprise Financial Services, Inc. is a large advisory firm based in Minneapolis. It manages $248.32 billion of regulatory assets for 1,393,263 client accounts. It has been registered with the SEC as an adviser since 2005 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 47 other states.

Ameriprise Financial Services provides financial planning services, portfolio management for individuals and small businesses, portfolio management for businesses and institutional clients, pension consulting services, selection of other advisers, publication of newsletters, educational seminars and workshops, and asset allocation services. It prepares financial plans for approximately 297,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Ameriprise Financial Services: assets under management

The assets under management (AUM) of Ameriprise Financial Services, Inc. is $248.32 billion. The firm's AUM has grown by 566% since the beginning of its operation, and $3 billion of the total AUM is attributable to clients outside of the United States.

The firm manages $110.51 billion in discretionary accounts and $137.81 billion in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $159.92 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $196.25 thousand.

Investments

The firm invests in investment and business development companies the most. They account for 53% of the total AUM. The second-largest asset type is pooled investment vehicles, which make up 26% of the firm’s portfolio. Investments in exchange traded securities form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Ameriprise Financial Services, Inc. for their services and products based on a percentage of assets under management, hourly charges, and fixed fees. Hourly charges are usually charged for consulting work and special projects. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Walter S Berman serves?

The firm provides services to individuals, insurance companies, charitable organizations, high net worth individuals, corporations or other businesses, pension and profit sharing plans, and state or municipal government entities. The largest group of clients of Walter S Berman is individuals with 879,274 clients and $177.72 billion of assets under management. Among the 11 most similar advisory firms, Ameriprise Financial Services has the highest percentage of individuals out of all clients.

The amount of regulatory assets under management is $248.32 billion for 929,876 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 2% of the firm’s clients are foreign persons or businesses.

Ameriprise Financial Services doesn't advise any private funds.

Careers at Ameriprise Financial Services, Inc.

The company employs 13,718 people that are either part- or full-time employees. 94 percent of the employees work as investment advisers or researchers. 10,799 employees are registered as investment adviser representatives with the state securities authorities.

There are 116 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees receive compensation from other entities for client referrals.

Walter S Berman has been acting as President since 1 May 2004. Joseph Daniel Fleming joined the executive team most recently as the Vice President And Chief Compliance Officer.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Ameriprise Financial	Shareholder	1 May 1979	75% - 100%	13-3180631
John Carl Junek	Senior vice president and general counsel	1 Jun 2000	Other	4251921
James Michael Cracchiolo	Director, chairman, president and ceo	1 Nov 2000	Other	4251944
Beth Ellen Weimer	Vice president and chief compliance officer - asset management and insurance	1 Jun 2001	Other	4424584
William Frederick Truscott	Cio	1 Sep 2001	Other	2416857
Joseph Edward Sweeney	Senior vice president, general manager - us brokerage and membership banking	1 Apr 2003	Other	4668713
Mark Edward Schwarzmann	Senior vice president - insurance and annuities	1 Feb 2004	Other	4742555
Brian Michael Heath	Senior vice president - advisor group	1 Feb 2004	Other	1258626
Walter S Berman	Director	1 May 2004	Other	4500271
Kurt Walker Lofgren	Vice president and chief compliance officer - u.s. retail distribution	1 Jul 2005	Other	3048472
Mark Alexnder Riordan	Chief financial officer	1 Jul 2005	Other	4759404
Brian Michael Heath	Director, chief executive officer and president	1 Mar 2006	Other	1258626
Charles Neal Maglaque	Senior vice president of business planning and operations for us advisor group	1 Feb 2007	Other	5026063
Joseph Edward Sweeney	President, financial planning, products and services	1 Apr 2007	Other	4668713
David Kent Stewart	Chief financial officer	1 Dec 2007	Other	2990869
Joseph Edward Sweeney	President and chief executive officer, president - financial planning products and services	1 Mar 2008	Other	4668713
Robert Lawrence Bohli	Group vice president (texas designated officer)	1 Aug 2008	Other	2144436
Donald E Froude	Chairman, president and ceo	1 Sep 2008	Other	1002120
Kim Michele Sharan	President, financial planning, retirement & wealth strategies and chief marketing officer	1 May 2009	Other	736812
Joseph Edward Sweeney	President, advice and wealth management products and services	1 Jun 2009	Other	4668713
James Boyd Flewelling	Group vice president (texas designated officer)	1 Aug 2009	Other	2331794
Ampf Holding Corporation	Shareholder	1 Oct 2009	75% - 100%	38-2722519
Kurt Walker Lofgren	Senior vice president and chief compliance officer - u.s. retail distribution	1 Jan 2010	Other	3048472
Joseph Edward Sweeney	Director of ameriprise financial services, inc. and president, advice and wealth management products and services	1 Jun 2011	Other	4668713
John Carl Junek	Executive vice president and general counsel	1 Nov 2011	Other	4251921
Joseph Edward Sweeney	Director, president, advice & wealth management products and service delivery	1 Jun 2012	Other	4668713
Charles Neal Maglaque	Executive vice president and chief operations officer awm	1 Jun 2012	Other	5026063
Kim Michele Sharan	President - financial planning and wealth strategies, chief marketing officer	1 Aug 2012	Other	736812
Joseph Edward Sweeney	President, chairman and chief executive officer	1 Apr 2015	Other	4668713
Charles Neal Maglaque	Director, executive vice president and chief operations officer awm	1 Apr 2015	Other	5026063
Mitchell David Doren	Region vice president (texas designated officer)	1 Feb 2016	Other	2129844
William Jerryl Williams	Director, executive vice president-field management	1 Mar 2016	Other	1954117
Patrick Hugh O'connell	Director, executive vice president-field management	1 Mar 2016	Other	2246285
John Carl Junek	Executive vice president and general counsel and chief compliance officer	1 Mar 2016	Other	4251921
John Carl Junek	Executive vice president and general counsel	1 Apr 2016	Other	4251921
Douglas James Parish	Senior vice president and chief compliance officer	1 Apr 2016	Other	5044900
Jeffrey Joseph Scherman	Vice president, chief financial officer and controller	1 Nov 2016	Other	4338820
Elizabeth Ann Hansen	Vice president and chief compliance officer	1 Dec 2016	Other	2199658
Karen Ms. Wilson Thissen	Executive vice president and general counsel	1 Jan 2017	Other	4878364
Joseph Daniel Fleming	Vice president and chief compliance officer	1 Feb 2018	Other	2093776

Indirect Owners

The SEC currently registers 1 indirect owner.

Name	Entity	Date acquired	Ownership	Employer ID
Inc. Ameriprise Financial	100% owner of parent company	1 Oct 2009	75% - 100%	13-3180631

Based in Minneapolis

The principal office where Ameriprise Financial Services, Inc. performs its advisory services is located at 707 2 Nd Avenue South, Minneapolis, MN 55402 The mailing address of the firm is 5227 Ameriprise Financial Center, Minneapolis, MN 55474. An additional office of the firm is in Windermere, FL. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 612-671-3131 or by fax 612-671-4929. The normal business hours are 8:00 am to 5:00 pm on Monday - Friday. You can find more information about the New York firm at ameriprise.com.