Apr 24, 2012 2:34 PM, By Diana Britton
While Ameriprise Financial (NYSE: AMP) reported lower profits for the first quarter, the firm managed to bring advisor productivity back up near record levels and slightly increase its advisor headcount....
Feb 7, 2012 7:06 PM, By Diana Britton
While other firms suffered in the fourth quarter on slow client activity, LPL Financial (Nasdaq: LPLA) announced earnings today of $39.4 million for the quarter, up $156 million from a net loss of $116.6 million in the fourth quarter 2010....
Feb 2, 2012 2:23 PM, By Diana Britton
Ameriprise Financial’s (NYSE: AMP) fourth quarter 2011 net income dropped about 22 percent to $240 million from $306 million a year ago. The company attributed the fall to volatile markets, increased cash positions, and continued low interest rates. ...
Oct 27, 2011 11:53 AM, By Diana Britton
Ameriprise Financial (NYSE: AMP) has been steadily improving the productivity of its advisors since the firm set its sights on this goal over a year ago—until now. Average FA production declined from a record high of $99,000 last quarter to $97,000 in the third quarter of 2011. The firm’s third quarter net income fell to $271 million, or $1.12 a share, from $346 million, or $1.33 a share, a year ago, missing consensus estimates of $1.21 a share for the quarter. ...
Aug 17, 2011 10:21 AM, By Registered Rep. staff
Ladenburg Thalmann Financial Services Inc. has agreed to buy Securities America Financial Corp., the troubled independent broker/dealer, from Ameriprise Financial Inc. for at least $150 million in cash, Ladenburg and Ameriprise said this morning. Registered Rep. was the first to write about Ladenburg as a potential buyer of Securities America....
Aug 12, 2011 8:00 AM, By Diana Britton
Some advisors have jumped ship from independent broker/dealer Securities America for LPL Financial (NASDAQ: LPLA) following news that parent Ameriprise Financial (NYSE: AMP) would sell SAI. Most recently, a $420 million team in Cornelius, N.C., Cornerstone Financial Partners, which includes four partners, have made the move and formed their own registered investment advisory firm under LPL’s hybrid platform....
Aug 1, 2011 12:00 PM
The list....
Jul 28, 2011 11:34 AM, By Diana Britton
Advisor productivity reached a new high for Ameriprise Financial (NYSE: AMP) in the second quarter, up 14 percent from a year ago to $99,000, driven by improved client activity and retail client net inflows, the company said in its earnings release. During a conference call Thursday morning, chairman and CEO Jim Cracchiolo told analysts that the Securities America sale, announced in April, was “proceeding well,” and that the firm would be announcing a buyer in the near future. ...
Apr 28, 2011 3:46 PM, By Diana Britton
Ameriprise needs to find a buyer for Securities America in a hurry. Many advisors, including large producers, are likely to leave now that Ameriprise's intention to sell has been made known, sources told Registered Rep. The IBD will probably be sold at a discounted price because of the risks involved, they said. ...
Apr 26, 2011 12:22 PM, By Diana Britton
Ameriprise Financial (NYSE: AMP) said its first quarter net income was at $241 million, a 13 percent boost from $214 million a year ago. Meanwhile, the firm reported its best quarterly advisor productivity ever at $95,000, up 23 percent from 2010. Improving advisor productivity has been a focus at the firm for more than a year. ...
Apr 25, 2011 6:25 PM, By Diana Britton
Ameriprise Financial (NYSE: AMP) plans to sell its independent broker/dealer unit Securities America, according to the company’s first quarter earnings report released today. Meanwhile, the firm is still in the process of finalizing a settlement with investors claiming SAI sold allegedly fraudulent private placements from Medical Capital Holdings and Provident Royalties...
Apr 1, 2011 12:00 PM, By Philip Palaveev
Securities America is just the latest broker/dealer to face financial distress. With so many firms falling into financial or legal hot water lately, financial advisors need to be prepared for the worst. Here's a checklist for your Plan B....
Apr 1, 2011 12:00 PM, By Jerry Gleeson
The average financial advisor is in his 50s and mulling retirement. The total number of advisors in the industry has been flat for years and is expected to decline in coming years. These facts are constantly trotted out as proof that a talent crunch is at hand in the industry. But in fact, it may be no big deal....
Mar 25, 2011 3:03 PM, By Diana Britton
Securities America met with plaintiff’s attorneys on Thursday to negotiate a resolution to investor claims against the company related to its sale of allegedly fraudulent private placements. The outcome of the mediation was unknown at press time, as key players involved didn’t return phone calls. Other media outlets have not reported on the results. Will the asset class become demonized unfairly?...
Mar 21, 2011 1:06 PM, By Diana Britton
“It is very unsettling. They have 2,000 reps that are trying to figure out what to do next. It also poses some interesting questions for the industry . . ."
...
Mar 17, 2011 10:39 AM, By Diana Britton
Securities America will face a federal court judge Friday to decide whether the independent broker/dealer gets preliminary approval for a $21 million settlement agreement related to allegedly fraudulent private placements sold by the company. Firm says FA retention is nevertheless still strong....
Feb 3, 2011 5:02 PM, By Jerry Gleeson
It was a good quarter for Ameriprise’s Advice & Wealth Management segment. It posted total revenue of $1.03 billion, a record, up 15 percent year over year. Pre-tax operating earnings of $90 million were up 157 percent from a year earlier. ...
Oct 28, 2010 5:53 PM, By Jerry Gleeson
Ameriprise’s Advice and Wealth Management business is doing more with less: fewer advisors, higher revenue and profits. ...
Sep 1, 2008 12:00 PM, Halah Touryalai
Ameriprise tightened its corner on the mass-affluent market with its purchase of H&R Block Financial Advisors (HRBFA) in August. Much of the financial...
Aug 13, 2008 4:49 PM, By Halah Touryalai
Ameriprise Financial is 900 advisors stronger after it purchased H&R Block Financial Advisors (HRBFA) for $315 million in cash yesterday. ...
Oct 24, 2007 3:44 PM, By Halah Touryalai
Ameriprise Financial Services has long been accused of possessing a culture that’s more concerned with sales commissions than compliance. The latest allegations against the company from the New Hampshire Bureau of Securities Regulation suggest that may still be very much the case, at least in that state....
Mar 1, 2007 12:00 PM, Kevin Burke
A disgruntled YouTube subscriber, who goes by the screen name has posted a video that parodies Ameriprise's baby boomer retirement campaign. The mock...
Jul 27, 2006 3:08 PM, By Kristen French
Ameriprise seems to be doing just fine without the backing of its former parent company, American Express. The firm had a good second quarter, meeting analyst consensus expectations, enjoying strong asset flows, improving advisor productivity and increasing its mass affluent client base....
Nov 1, 2005 12:00 PM, By Kristen French
Now that it's standing on its own two feet, Ameriprise Financial is ready to spend some dollars and it's got more than a few to spare, thanks to a $1...
