Running Head: AMERIPRISE FINANCIAL SERVICES BUSINESS REPORT 1

Ameriprise Financial Services Business Report Title Page

Ameriprise Financial Services

Francis W Mossett IV

Central Michigan University

AMERIPRISE FINANCIAL SERVICES BUSINESS REPORT 2

Introduction

Ameriprise Financial Services has been one of the leading competitors in the financial

services industry since its establishment in 1971. Some of the big competitors that compete against

Ameriprise are Morgan Stanley, JPMorgan and other significant financial services in the industry.

With sales for the last year being $1,489,570,000, alongside 11,100 employees, this created a

$134,196 sale per employee. This makes Ameriprise one of the top competitors in their field and

potentially a great employer.

The purpose of this research is to give reasoning behind if Ameriprise would be a

significant employer in the future. Some of the questions that will be answered in this report are,

- Expected growth for Ameriprise planners

- Average salary of a financial planner

- Different types of planning Ameriprise does

- Ethics and morals of Ameriprise

- Do employees enjoy working with the company.

These questions will all be answered to determine if Ameriprise Financial Services would

be a good employer in the future.

AMERIPRISE FINANCIAL SERVICES BUSINESS REPORT 7

Research Methods

While researching Ameriprise Financial Services, I used databases, government sources

and even talked to a few financial planners in the industry to gain insight. I was offered a chance

to speak with multiple financial planners and had a set of questions prepared before each phone

call. These questions being, do you enjoy what you do, do you like working for Ameriprise and

if you could change anything what you would change and why. These questions gave me the

insight to see if I would enjoy working for Ameriprise in the future. I also used government web

pages to find out the average salary of financial planners and the expected growth rate of the

industry. This also gave me relevant information regarding the future of financial planners along

with the job market for it. Using CMU’s library’s databases provided me with valuable

information regarding Ameriprise and other pages with useful information to help answer my

questions. Some of the weaknesses of my research methods would be that I talked to two

employees that are significant producers and are treated very well. This may not be true to all

employees if they are a smaller producer.

AMERIPRISE FINANCIAL SERVICES BUSINESS REPORT 4

Analysis of Findings

During my research, I discovered many things such as according to the Bureau of Labor

Statistics the 2016 median pay of Financial Advisors is roughly $90,530. The Bureau of Labor

Statistics also projects that the growth of the market

for financial planners will grow 32% from 2010-

2020. Compared to the 14% growth rate of other

areas of occupation this is a very high growth

rate(“Personal Financial Planners,”2018). This

shows that Ameriprise will have lots of room to grow

in the future and would be a great long-term job.

Along with the high projected growth rate for financial planners and a high median pay

Ameriprise itself has been growing at a tremendous rate as well.

With a forecasted growth rate of 17.60% in 2018 according to the

Nasdaq and another 9.4% the following year(“AMERIPRISE

FINANCIAL SERVICES,”2018). This shows that Ameriprise is

a company that will continue to grow larger and larger in the

following years.

Along with this information I was able to get in contact with two current employees of

Ameriprise to ask a few questions regarding their current jobs. They both are doing personal

financial planning for Ameriprise with a mean salary of around $400,000. Lyn Mossett and Frank

Mossett were both very helpful and answered my questions happily. When Lyn Mossett was asked
AMERIPRISE FINANCIAL SERVICES BUSINESS REPORT 7

if she liked what she does she responded with this, “I love what I get to do, I get to help people

while making great friends with these people. Meeting with them and talking about their lives are

my favorite part of the job” (L. Mossett, personal communication, February 22,2018). They both

claim Ameriprise treats them amazing and gives them all the tools they need to succeed with clients

and to grow as an advisor. There are many different types of planning as well that they can do,

personal, estate and retirement planning are all including in their jobs giving them something

different to do all the time. Both have very successful relationships with their clients and have

never had any ethical or morally wrong problems when working with Ameriprise and their clients.

When Frank Mossett was asked if enjoys working with his clients he responded with, “It’s my

favorite part of the job, something that will never get old” (F. Mossett, personal communication,

February 20, 2018). Overall this benefitted me very much be able to talk with them. Hearing what

current employees think about the company they work for and what they do is something that is

very important.
AMERIPRISE FINANCIAL SERVICES BUSINESS REPORT 6

Conclusion/Recommendations

Overall Ameriprise Financial Services is a great company with a chance to grow

tremendous amounts in the future. With the expected growth rate of the financial services job

market, it would be no surprise if Ameriprise experienced great growth in the future. Ameriprise

advisors have a great pay alongside with a great chance to grow and increase their pay more.

This is something that is very important when selecting a company to work for in the future

alongside with their great ethics and morals; it makes Ameriprise a great company. With all the

different types of planning that you can do it leaves for lots of variety in your daily work routine.

Getting the chance to work with people and help them live a happy, safe and comfortable life is

something that I would love to do in the future. Ameriprise’s morals and ethics align with that

thought which makes them a company that I would love to work with. Knowing what it is like to

be an advisor at Ameriprise also helps because I can see what it is like to be there, do people like

it and how are they treated. Knowing all this Ameriprise would be a great employer for the future

job. With the growth rate that is expected and how they do their work, it would be a great fit for

me and something I would love to do in the future and would highly recommend someone to

Ameriprise in the future.

AMERIPRISE FINANCIAL SERVICES BUSINESS REPORT 7

References

Personal Financial Planners. (2018, January 30). Retrieved February 13, 2018, from
https://www.bls.gov/ooh/business-and-financial/personal-financial-advisors.htm

Touralai, H. (2012, August 8). One Of The Fastest-Growing Careers Is In Desperate Need Of
Young Talent. Retrieved February 13, 2018, from
https://www.forbes.com/forbes/welcome/?toURL=https%3A%2F%2Fwww.forbes.com%2Fsites
%2Fhalahtouryalai%2F2012%2F08%2F08%2Fone-of-the-fastest-growing-careers-is-in-
desperate-need-of-young-
talent%2F&refURL=https%3A%2F%2Fwww.google.com%2F&referrer=https%3A%2F%2Fww
w.google.com%2F

Certified Financial Planner: Career Summary, Job Outlook, and Educational Requirements.
(n.d.). Retrieved February 13, 2018, from
https://learn.org/articles/Certified_Financial_Planner_Career_Summary_Job_Outlook_and_Educ
ational_Requirements.html

AMERIPRISE FINANCIAL SERVICES, INC. (AMP) Forecast PE Ratio and Earnings Growth
Rate. (n.d.). Retrieved February 22, 2018, from https://www.nasdaq.com/symbol/amp/pe-
growth-rates

Ameriprise Financial. (n.d.). Retrieved February 20, 2018, from https://www.ameriprise.com/

Ameriprise Financial on the Forbes Global 2000 List. (n.d.). Retrieved February 28, 2018, from
https://www.forbes.com/companies/ameriprise-financial/

“Ameriprise Jobs.” Glassdoor, www.glassdoor.com/Jobs/Ameriprise-Jobs-

E15316.htm?irs.

Interviews:
Lyn Mossett evelyn.m.regentin@ampf.com
Frank Mossett francis.w.mossett@ampf.com