Ameriprise Deals

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Jul 28, 2007 11:24 am

What's the word on the street regarding AMP deals?  I've seen an independant practice bought out for big bucks...advisors getting big signing bonuses based on rolling 12 to transfer their practices...a 55% payout or 87% for advisors (independant or not)...and an open brokerage architecture.  What's the word?

Jul 28, 2007 11:47 am

200% of trailing twelve, 90% payout, and no GDC haircuts is what I'm hearing.

Jul 28, 2007 1:12 pm

Wow, that would be nice.


Amp franchisees can buy practices and offer any incentive they want to buy books inside and outside Amp.


If you are talking about "P1", the employee and training platform, you need to ask a P1 manager.

Jul 28, 2007 10:38 pm

What's really nice is if you're already an AMP advisor, and buy another AMP advisor's practice, because there's none of that ACATing and winning new clients over... just switch them over, and service them.


Plus, another AMP guys practice will be very transparent to the new AMP advisor, and will be easy to price.

Jul 30, 2007 3:05 pm

isn't LPL the spot to go for indy's?


Jul 30, 2007 3:20 pm
Vin Diesel:

isn't LPL the spot to go for indy's?




SHHHHH!  Let some of them learn the hard way!

Jul 30, 2007 4:39 pm
Vin Diesel:

isn't LPL the spot to go for indy's?




Probably. They look pretty good if you are doing your own thing. If you have a smaller book and want to merge it with someone - if you're newer in the business maybe - keep and open mind and do your research.

Jul 30, 2007 9:27 pm

Amerprise.  It's the latest iteration of American Express Financial Advisors and IDS Financial Services before that.  Lots of in-house product but with a different name so as not to be so obvious.  Although not NYC-based (which is a huge positive), the firm is somewhat cultish and closed off from the rest of the industry.  (Just ask your wholesalers for their opinions.)  Very left-leaning corporately (based in Minnesota) and their "Dream Book" starts off by asking what goals a person has and then goes through a thought-prompting list that is led off by, seriously, joining the Peace Corps.  Commercials pander to those who were allied with the 60s counterculture movement.  Suggestion: If you're a conservative, you probably wouldn't enjoy it there...

Jul 31, 2007 12:15 am

Yes, and we all print docs on 100% post consumer waste hemp paper products, wear headbands, drive VW buses, vote communist party, and have corporate frisbee golf tourneys.

Jul 31, 2007 4:06 pm
Big Taco:

Yes, and we all print docs on 100% post consumer waste hemp paper products, wear headbands, drive VW buses, vote communist party, and have corporate frisbee golf tourneys.


So that Ameriprise recruiter WAS telling the truth...........