Independent brokerage firm Ameriprise Financial has ramped up efforts to win top financial advisers by matching the signing bonuses offered by the nation's biggest brokerage firms.Regional independent brokerage firm Ameriprise Financial has ramped up its efforts to win top financial advisers by matching the signing bonuses offered by the nation's biggest brokerage firms.The strategy, coming at time when its efforts to recruit high end brokers have lagged competitors, was announced on a recent call with analysts and recruiters. It raises signing bonuses to 150 percent of an adviser's last 12 months of revenue, from 120 percent, for those that bring in $830,000 or more. It would also offer signing bonuses of 150 percent for so-called "second quintile" brokers who bring in $585,000 in revenue.Since Oct. 31, Ameriprise has drawn just eight brokers who had more than $100 million in assets under management in the trailing 12 months, according to the firm's own announcements tracked by Reuters. During that same period, regional independent firm Raymond James hired 32 new brokers with at least $3.2 billion in client assets under management in that time, according to the Reuters database.
Ameriprise Financial, Inc. (Ameriprise Financial) is a holding company primarily engaged in business through its subsidiaries. Shares of AMP fell by 1.08% or $-1.265/share to $115.52. In the past year, the shares have traded as low as $76.77 and as high as $118.65. On average, 1106730 shares of AMP exchange hands on a given day and today's volume is recorded at 340510.
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