Ameriprise Financial says its virtual recruiting strategy, put in place in March, is paying off, with more than four times as many advisors engaging with the firm through video, webinars, VIP meetings and open houses than a year ago.
“Without having to travel—or leave the safety and comfort of their homes—advisors are taking advantage of the convenient and flexible options Ameriprise offers to meet with top executives and do their end-to-end due diligence on the firm virtually,” the firm said, in a statement.
Many broker/dealers have shifted to digital recruiting strategies in the wake of the coronavirus pandemic, and some are seeing a surge in interest.
Ameriprise says that as advisors work remotely, they have more time to evaluate their options than they would in normal times. Eighty advisors joined Ameriprise in the first quarter of this year, the firm said.
“Advisors are impressed by our swift and seamless response to COVID-19, and it has given us an opportunity to showcase our offering to those who perhaps weren’t aware of the full scope of it,” said Manish Dave, senior vice president of advisor business development. “Engaging virtually makes it easier than ever for advisors to get to know us, do their due diligence and have all their questions answered by our committed team of leaders and staff.”
Ameriprise recently had an advisor return to the firm after 26 years at other brokerages. “It’s a different company than the one I left," said Timothy O’Connor, who's joining Ameriprise's independent advisor channel.