Question about Ameriprise

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May 5, 2006 1:52 pm

Hello everyone,

I recently accepted a position at Ameriprise after going through the interview process.  I turned down a position at Edward Jones to accept this one.  I’ll be starting in about a month.

I am starting to have regrets about doing this.  I have been reading some bad stuff about Ameriprise on these message boards.  Should I be concerned?  I don’t want to lose the money that I have put into this and want to get the $1500 bonus to pay back all the fees that I have paid so far.  Should I consider leaving after I get the bonus and go to a better company, or should I try and make it work at Ameriprise.  I don’t want to ruin my chances later in my career of going somewhere else.  Will having Amp on my resume look that bad?

Thanks in advance for the advice!

May 5, 2006 2:16 pm

It will be extremely difficult to get into a top tier firm (ML, SB, etc.).  If you stay there, don't use proprietary products.  You will be told they're fantastic, but that's because it's all there is for some of the investment choices (I believe VA, VUL, etc.).  Training is poor. 

They throw you to the wolves which is good and bad.  If you are more of an entreprenuer, you will be fine, but if you need a little more guidance, forget about it.  I'm not always the biggest EDJ endorser, but they are a fantastic place to start.

I know that's blunt, but it's short and sweet and to the point.  Good luck.  Let me know if you have any questions.

May 5, 2006 2:18 pm

Between those two, EDJ is the clear winner.  Don’t throw good money after bad, assess you losses, if you can get out–DO IT.

May 5, 2006 3:18 pm

yeah I'm going to have to agree.

you have no freaking idea how hard it will be for you to get hired by a major wirehouse firm if you stick around with ameriprise. nothing against them, but their whole structure is just so different. Myself and a counterpart interviewed two guys from Ameriprise just recently and we looked them in the face and apologized because there was nothing we could do for them. "We don't sell 'proprietary packages' over here, sorry guys."

May 5, 2006 4:12 pm

You've been reading THIS board and are more concerned about Ameriprise over Edward Jones?

I congratulate you for doing research and having your own mind.

Get your licenses so you HAVE something to interview with and put on your applications.  It's up to you if you want to stay or not.

Hey, at least you're not with WFG or Primerica!

May 5, 2006 9:00 pm

I just saw this after posting my own topic. Im in your boat, but I havent made a choice yet… From what I can tell so far, other brokers will respect EDJ more and they are going to put much more into training.

May 6, 2006 9:42 am

From what I can tell so far, other brokers will respect EDJ

Just curious, why is it important to you what "other brokers" think about the firm your with?
May 6, 2006 11:48 am

"From what I can tell so far, other brokers will respect EDJ"

May 6, 2006 12:04 pm

So now I assume that its a lose lose situation?

May 8, 2006 10:11 am

Not a lose-lose, just a better starting point at Jones.