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  1. #17
    Join Date
    May 2008
    Location
    Boston
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    26

    Re: Is Ameriprise Financial has great career opps

    Ameriprise is certainly not a scam, but they're probably one of the worst places to start as a Financial Advisor, unless you pretty much have no experience or education in the field. They will hire just about anyone off the street. A real broker or financial services firm (Morgan Stanley, Wachovia, etc) will typically pay you while you're studying for your Series 7 and other licenses and also pay for your test. However, if you really want to be in this field and have no experience (in sales or financial services) it might not be the worst place to start... if you have a sales background, apply somewhere better.... just my 2 cents, having worked in this industry.

  2. #18
    Join Date
    May 2008
    Location
    Boston
    Posts
    26

    Re: Is Ameriprise Financial has great career opps

    Quote Originally Posted by Scam Specialist View Post
    In order to receive your license at any financial company you need to pay for them.
    That's totally false. I worked at Morgan Stanley 12 years ago when I was starting my career, and I had a base salary of $50,000 while I was in training for my Series 7 exam. No out of pocket expenses at all. After passing the exam, the base was half that + commission for a period of time, and then it was full commission.

  3. #19
    Join Date
    Aug 2008
    Location
    Rochester, MN
    Posts
    5

    Re: Is Ameriprise Financial has great career opps

    Hi everyone, I thought I would just shed some light on this question for you all. I am an Ameriprise employee, have been for years. This used to be IDS Financial, then it switched over to American Express. We do not recruit through the website noted, there is no employee or contracted recruiter with Ameriprise by the name Valerie Bloom either.

    #9
    11-19-2005, 08:11 AM
    cks143
    Junior Member


    Re: the above users post, we do not have a financial headquarter in Los Angeles. Only in Minneapolis at the IDS tower. There may be offices there and when you are interviewing there, it is because those people (as we all are) are independent contractors (advisors) of Ameriprise Financial. We are one of the number one financial companies in the industry right now with a stronger cash position that Merrill Lynch, AG Edwards, Edward Jones and Charles Schwab to name a few. We have a corporate governance quotient of being better than 97% of financial firms in the country. This is a completely legitimate company and the person that offers you a job, is not doing so as Ameriprise the corporation, but as an independent person employed within Ameriprise. Yes, our stock ticker trades at AMP, if you to www.yahoofinance.com and look up our ticker, then in the left hand corner, go to "company profile" you can learn all about the company and the management behind it. I hope this clears everythign up. If it's any consolation, this is a fantastic company to work here, they treat us like gold, we love what we do and we are on top of the world right now and in a better market position than anyone else. If you get a recruitment email, it will never ever come from Ameriprise and if it does, the email will end in @ampf.com because every single employee here has the same email ending. No other substitions. We don't use outside head hunters to recruit, we recruit from within and it is not very easy to get a job here. If you fail your series 7 the first time, you lose your job and if you dont' have a squeaky clean criminal record and an impressive education background, they wouldn't even consider you for a finance job...customer service maybe, but not as an advisor, that is a title that is earned here, not recruited on a cold call or a cold mailing. Hope this helps everyone!

    Not that I think I'm an expert by all means, but I have been all through the corporate headquarters, I have met the CEO, Jim Cracciola personally, I have had personall conversations with bot the Chief Financial Officer Ted Truscott and Economist Dan Laufenberg and have worked here long enough to know how things are done.

  4. #20
    Join Date
    Aug 2008
    Location
    Rochester, MN
    Posts
    5

    Re: Is Ameriprise Financial has great career opps



    YOU STATED THIS... Ameriprise is certainly not a scam, but they're probably one of the worst places to start as a Financial Advisor, unless you pretty much have no experience or education in the field. They will hire just about anyone off the street. A real broker or financial services firm (Morgan Stanley, Wachovia, etc) will typically pay you while you're studying for your Series 7 and other licenses and also pay for your test. However, if you really want to be in this field and have no experience (in sales or financial services) it might not be the worst place to start... if you have a sales background, apply somewhere better.... just my 2 cents, having worked in this industry.

    This couldnt' be farther from the truth. You are mixing us up with Primerica...a totally different company. Our series 7, series 66 and all training and education are completely paid for by the company. If you want to talk company stats...lets look at the facts. Morgan Stanly has a Corporate Governance Quotient, as of August 1, 2008, as being better than only 56% of S&P Financial companies, and 91.3% of Diversified Financial Companies. Not to mention, total revenue of the company is $85,328,000 and a net income applicable to common shares of only $3,141,000. Wachovia is slightly better at 73% better than S&P 500 companies and 98.2% better than other banks, but they aren't even classified or competing with Ameriprise, since they are classified as a bank, we at AMPF are a diversified financial plannign company. The Wall Street Journal already alerted the world that we are a force to be reconed with. No write downs while companies like Merrill Lynch have billions in write downs. Wachovia's stock price is a poor $16.06/share. Hardly a presence in the market. You are comparing apples to oranges. With that being said, it's irrelevant anyway, our quotient at Ameriprise is 86% better than S&P 500 companies and better than 97.5% of all Diversified Financial companies. Our company is growing at a rate that is astronomical compared to other companies in our field and analysists are proud to say we have had no underperforming stocks at all, in the past 3 months. We are also #3 on the Baron's list of mutual funds...can't say that for Morgan Stanley or Wachovia. Our cash position is stronger than most if not all financial companies in our secotr and it is NOT that easy to get a job here. Everyone in our office has an MBA or something similar. We are required to complete 30 credit hours a year of continuing education and are constantly being offered opportunities to become bigger, better, stronger and more powerful and we've proven just that. So thanks for the pathetic burn on Ameriprise. You must have not gotten the job you wanted here? Because your opinons are not only completely unfounded, but completely untrue and I think the numbers speak for themselves. In fact, if you look at our direct competitors on a side by side comparison of the top 10 firms in our ranking, Morgan Stanley is only one spot above Merrill Lynch, and we all saw what happened to them this eyiar and their stock price, dropping to a scary $24/share, compared to that of $70 a year ago. Not only that, but Wachovia doesn't even make the list and Morgan Stanley is number 4 our of ten, even Citigroup has you beaten and they are about to fold..

  5. #21
    Join Date
    Aug 2008
    Location
    Rochester, MN
    Posts
    5

    Re: Is Ameriprise Financial has great career opps

    Quote Originally Posted by suturbei View Post
    I was recently contacted by Ameriprise Financial because they found my resume online. They invited me to come in for an interview for a position as Financial Advisor. I have some accounting experience listed on my resume so I didn't think anything of it and jumped at the chance for an interview. However, before he got off the phone with me, he advised me to prepare for at least an hour for a presentation; as soon as I heard this, I became a little skeptical.
    I went in anyway, and as I got there, there were about 10 other people dressed very professionally waiting to be interviewed. We were then escorted into the conference room and given the presentation by a twenty-something energetic girl. She was describing the earning potential of working with the company and told us in order to be hired, we would have to be licensed first. She said that we would have to pay $1500, out of pocket, for the licensing and if we passed the test, then we "may" be offered a position as a financial advisor and would be refunded the $1500. At that point, we would be in training for 10 weeks and make $6.60 and hour. After that period we would make like $23k plus commissions and bonuses. She said that the amount of money we could make is limitless. Anyway, despite my better judgment, because I don't think you should ever have to pay money to get a job, I stuck around for the testing and interview. I guess I was kind of on the fence as to whether it was a scam or not. I could kind of see where they were coming from, if they fronted you the $1500 for the licensing and you didn't pass, they couldn't use you as a financial advisor without a license. However, the same theory applies, if you pay $1500 out of pocket and don't pass, you're out of $1500 and a job. I don't have $1500; that is why I'm looking for a job in the first place. I know that I am intelligent enough to pass the licensing test and my resume is quite impressive; therefore, I think if they were legitimate and impressed with my qualifications, they would've fronted the money themselves. Therefore, although I am still a little undecided, it is my gut feeling this is a type of recruiting scam.

    This is completely false. I am an employee here and there is no way anyone here starts at that salary. Your bonus alone will be more than $6/hour. Ameriprise provides the training and pays for your Series 7 and your Series 66 and your insurance license. Not to mention, I'm not sure who interviewed you and your group of cronies there, but we are all independent contractors of AMPF, and it is not that easy to get a job here. If you fail your 7 the first time, you lose your job. The benefits are better than most companies i've ever heard of, 24 paid days of vacation year one and stock purchase plan? Nice. Not to mention, everyone around here I know drives fast sports cars lives in a big house and makes more money than you will ever see in your life. Some of our top producers in MN alone make over a million a year. Must be a scam huh? I doubt it.

  6. #22
    Join Date
    Aug 2008
    Location
    Rochester, MN
    Posts
    5

    Re: Is Ameriprise Financial has great career opps

    Quote Originally Posted by JustMe74 View Post
    That's totally false. I worked at Morgan Stanley 12 years ago when I was starting my career, and I had a base salary of $50,000 while I was in training for my Series 7 exam. No out of pocket expenses at all. After passing the exam, the base was half that + commission for a period of time, and then it was full commission.
    Not true at all. They paid for my Series 7, my Series 66, my Insurance License, all my travel expenses, a fat bonus on top of that, and they pay for all my continuing education which they so graciously hold at casinos and out of town like Chicago and even Russia, so we can travel and party together. This place is frick'in awesome to work at!

  7. #23
    Join Date
    Aug 2008
    Location
    Rochester, MN
    Posts
    5

    Re: Is Ameriprise Financial has great career opps

    Quote Originally Posted by wyldethang View Post
    I went and interviewed with them and failed a math test, from the looks of their office if they are a fraud they are a highly financed one. They had a multi room office suite, at least 30 computers, (about 15 were for testing people) etc.

    Hope it helps
    Wylde
    I've never heard of any math test at Ameriprise and I've been here for a couple years now.

  8. #24

    Re: Is Ameriprise Financial has great career opps

    Quote Originally Posted by k_jewell View Post
    Not true at all. They paid for my Series 7, my Series 66, my Insurance License, all my travel expenses, a fat bonus on top of that, and they pay for all my continuing education which they so graciously hold at casinos and out of town like Chicago and even Russia, so we can travel and party together. This place is frick'in awesome to work at!
    Talking about Series 7 exam I would like to give you one very important advice. The point is that I have obtained Series 7 License recently. While preparing for my test I used this Series 7 Preparation App to study all the necessary materials properly. It is a very cost-effective method.

  9. #25
    Join Date
    Apr 2014
    Location
    Orlando, FL
    Posts
    389

    Re: Is Ameriprise Financial has great career opps FRAUD??

    testing 123

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