Complain about a product or service

Ameriprise

Ameriprise • New Hampshire Charges Ameriprise with Fraud • Ameriprise Hit with $9 Million Penalty • Ameriprise Settles With Regulators Over Laptop Theft • Ameriprise Loses Customer Data --- • Consumer Complaints

Once upon a time, this company was known as American Express Financial Advisors. But in 2005, Amex decided, for what were called "strategic" reasons, to spin it off. Thus was created Ameriprise, the nation's largest mutual fund advisory firm in terms of assets managd.

But just how well those assets are being managed is the source of at least a few complaints by clients and regulators.

Felix of Somerset, NJ November 9, 2009

My father bought a 110k "Universal Life" policy and rates increased Yearly to OVER 1000. a month. After we investigated We found out policy if clam submitted would only be 1/3 of value -0 - if that. Broker for past few months would NOT respond via telephone or mail; But secretary said best way to contact was email [My 83 year old does not know computers !] Family recently in progress changing to another service and Ameriprize is DRAGGING their feet.

Jeanette of Kendall Park, NJ October 29, 2009

I requested my withdrawal of my 401K Plan with Ameriprise Financial. I requested this on 10/14/09. I was told by Piyush Chowhan on that same day that it would not be a problem, that I would be recieving my full balance withdrawal within 7 days. And I specifically stated I need it for my mortgage bec I am close to foreclosure. My bank is waiting for this money. They sent a collection agent to my home and I showed them the Ameriprise paperwork showing that the transaction from Ameriprise was being processed; this money would be used specifically for my mortgage payment.

Carlos of Merrimack, NH August 27, 2009

I worked for Ameriprise and they are a selling organization. The "advisors" dont have any education in finance and are trained often by freshly minted college or even High school grads. It was pathetic, the only thing they did is teach how to corner and sell useless plans and mediocre products. As an MBA I had a great advantage and that helped me tremendously but they provided no guidance. All they wanted was for the advisors to sell financial plans, Variable Universal Life insurance and annuities. The company's management was reckless and got into trouble with the state regulators. I can't believe that I associated myself with this company. They are a greedy organization with no respect for the concept of fiduaciary at all. Bad company.

David of Inglewood, CA March 3, 2009

David of Inglewood CA (03/03/09)
My son and I have, requested the closure of my accounts at Ameriprise, save the annuities in payout, yet Ameriprise and our Broker Robert S, have refused to honor the same. My requests date prior to January 2, 2007 and it has been two years of delays. My son, who has Power of Attorney, has made repeated request by phone since this date yet all request have been ignored. Ameriprise has not given an explanation or responded by letter, phone or email. By not returning our money we have been damaged and their behavior violate professional codes and is criminal. It appears that many complaints have been lodge against Ameriprise various department and this is outrageous that no action has taken place. I am told that FCC has already frozen Ameriprise's reserve accounts .

Because we are unable to pay bills, which led to loss of transportation, & could not pay tuition on time for Grand children, penalties and interest have accrued greater than 20000.00

David of Inglewood, CA March 3, 2009

David of Inglewood CA (03/03/09)
My son and I have, requested the closure of my accounts at Ameriprise, save the annuities in payout, yet Ameriprise and our Broker Robert Smotherman, have refused to honor the same. My requests date prior to January 2, 2007 and it has been two years of delays. My son, who has Power of Attorney, has made repeated request by phone since this date yet all request have been ignored. Ameriprise has not given an explanation or responded by letter, phone or email.

By not return our money we have been damaged and their behavior violate professional codes and is criminal. It appears that many complaints have been lodge against Ameriprise various department and this is outrageous that no action has taken place. I am told that FCC has already frozen Ameriprise's reserve accounts . David Moore /Myrtle Moore

Because we are unable to pay bills, which led to loss of transportation, & could not pay tuition on time for Grand children, penalties and interest have accrued greater than 20000.00

Darryl of Douglasville, GA December 28, 2008

Darryl of Douglasville GA (12/28/08)
Involved in an auto accident with an Amerprise policy holder. B. changed lanes very quickly and hit passenger side door. Police report puts B. at fault. We contacted Ameriprise to file claim. They recorded both parties statements as to what happened and because I stated that I did not see him until he hit me Amerprise says that I am 10% at fault. The only recourse that I have according to Ameriprise is to file with my own insurance. This makes Amerprise the Judge, jury and executioner.

The damage to our vehicle is 4600.00 plus deminished value. My part would be 460.00

Aleta of Los Angeles, CA July 3, 2008

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