Ameriprise Advisors See Boost in Revenue; Firms Aims for More HNW, Millennial Clients
Financial results released by Ameriprise Financial show the firm’s 10,274 financial advisors saw a year-over-year increase of 7.4% in productivity as measured by revenue. The firm reported adjusted operating net revenue per financial advisor of $874,000 at the end of June, compared to $814,000 a year earlier. Ameriprise ended June with 10,274 financial advisors compared to 10,245 a year earlier. Separately, Financial Advisor IQ reports that Ameriprise Financial Chair and CEO Jim Cracchiolo said that the firm intends to make “a more concerted effort” to add high-net-worth and millennial clients. The firm’s research shows “that the Ameriprise value proposition and brand are very appealing to high-net-worth investors as well as millennials who are hungry for advice and seeking guidance from advisors who truly understand them and their priorities,” Cracchiolo said during the firm’s earnings call.
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