10.17.24

Ameriprise Pilots Mixing of Model Portfolios With Client Choice

by: Alyson Velati

Ameriprise is piloting a program that lets clients mix model portfolios with mutual funds and exchange-traded funds (ETFs) they choose. The Signature Wealth Program pilot, which began on Oct. 14, will start with 200 advisor practices and will be rolled out to all advisors during the second quarter of 2025. Models will come from 10 asset managers, but then clients can pick from a menu of ETFs and funds to "round out" their accounts, according to the filing. Clients control as much as 25% of their account assets under the plan, while the rest goes to discretionary models.

Read the full article on Financial Advisor IQ