Ameriprise buys Columbia
Columbia is a good outfit, 400b is a lot of Aum.
As long as folks continue to use managed funds, and the internal fee structure stays in place, this should help keep Ameriprise strong.
Can anything be inferred, Ameriprise management must feel the future of managed funds is bright, and not threatened by major changes in the regulation of 12b1 fees or whatever any time soon? Or are they ready to roll with any fee structure changes - perhaps much of the money is in retirement plans or institutional.
wow great news
who gives a f*&^%?
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Whether or not its great news is what is up for discussion. Columbia's funds are used by people in almost every firm. Having it run by Ameriprise may change the way a lot of people do business. If this forum is any indication, many people hate Ameriprise so much they may quit using the funds. At the very least, Since Riversource is proprietary, Other advisors haven’t really had to deal with the company in any way. Now some firms will be working with them every day.
As for who cares, Since AMP is up 13% with three times its average volume, I would say a lot.
I dont remember ever seeing aN Ameriprise statement from a prospect without a ton of Riversource funds. So now what happens? Will be curious to see.