Ameriprise client privacy policy

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Oct 13, 2006 2:08 pm

According to an article in Investment News Ameriprise changed their client privacy policy so that reps cannot take any client document with then when they leave.  Even if it's a note they made about the client they are not allowed to take it with them.  The company owns the client information.  That would scare me as an Ameripirse advisor.

Oct 13, 2006 3:39 pm

they will have to make copies....they could never effectively enforce that anyway.

Oct 13, 2006 4:01 pm
OhioAdvisor:

According to an article in Investment News Ameriprise changed their client privacy policy so that reps cannot take any client document with then when they leave.  Even if it's a note they made about the client they are not allowed to take it with them.  The company owns the client information.  That would scare me as an Ameripirse advisor.



Just about every firm out there has a similar policy about not taking client documentation with you when you leave.  And taking company property with you when you go is one of the easiest ways to buy a TRO.

However, there are lots of things that you CAN do to retain your relationships that are both legal and appropriate.  The actual methods vary from state to state, and your new branch manager will guide you through the process.  (You also have the option to retain your own legal advisor, if you wish.)

Some firms are better than others ad assisting and indemnifying you during a transition.  Ask your recruiter about your options.