Mindy Diamond Quoted
By Lisa Shidler
Ameriprise Financial is offering 150% of an advisor’s last 12 months of revenue as its base recruiting bid in an attempt to zap its recruiting efforts back from the dead, according to a Reuters article published Thursday.
But simply infusing money into a long-existing problem facing Ameriprise won’t fix everything, says Mindy Diamond.
“If I have a choice between Wells Fargo’s FiNet or Ameriprise, and Ameriprise is synonymous with a more mass affluent or lower- end client, I’m more likely to choose Wells Fargo,” Diamond says. “If an advisor is trying to get larger clients with $5 million to $10 million in assets, they realize the Ameriprise name doesn’t resonate with high-end clients and they feel it hurts them in the end.”
