My column this week is about Ameriprise, a company rich with history, though not always the good kind. It deserves a ton of credit for making financial planning central to its work with customers, but it has also run into plenty of trouble with regulators over the years.
Every company of its size is bound to have a few bad apples pushing products in the wrong way. Still, I remain wary of any financial planning operation where so many advisers earn money from commissions and the parent organization is in the life insurance and annuity business.
I still think that that you should work only with advisers who earn fees from money that you pay out of your own pocket or portfolio. That way, the adviser will not be tempted to recommend an investment that will bring in the most commission. And among the more than 10,000 Ameriprise advisers, there are some who work that way.
For those of you who have had dealings with the rest of them, I’d be curious to hear how you have fared, or if you’re an adviser but would never work with Ameriprise for whatever reason. Current and former advisers are welcome to weigh in, too.
Article source: http://feeds.nytimes.com/click.phdo?i=2b0cfb63ccb822cd6a71bd911dcbddfc
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