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In the News

Ameriprise makes its move upmarket by first moving its bonus payouts to Wall Street levels

Posted by Mindy Diamond

RIA Biz Financial Advisor News

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.”

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About Mindy Diamond

CEO – By counseling advisors on how to ask the right questions and “dig deep”, she helps them look at all of the opportunities available to find the one that allows them to reach their full potential. That is, to best serve their clients and live a life that is in sync with their own beliefs and values. Learn more...

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