Ameriprise Financial, Inc. (NYSE: AMP) witnessed a marginal fluctuation in its stock valuation during the recent trading session in the U.S. financial markets, registering a modest uptick of 0.11% to culminate at $393.55. The resilience displayed by Ameriprise stock amid insider selling activities was particularly noteworthy.
William F. Truscott, CEO of Ameriprise (AMP)’s Global Asset Management, carried out a 9,689-share sale, according to a filing made with the Securities and Exchange Commission (SEC) on Tuesday. The shares brought in a total of $3,780,832 when they were sold for $390.22 apiece.
Additionally, Joseph Edward Sweeney, the President of AWM Products and Services at AMP, undertook a divestment of company shares, selling 4,146 shares at $389.47 per share, amounting to $2,004,192.
Despite these significant insider sales, Ameriprise’s stock exhibited stability, a testament to the effectiveness of the company’s expansion strategy. Notably, the recent addition of Financial Advisor Lance Lively, AAMS, MBA, who joined Ameriprise’s independent channel from Edward Jones in Sand Springs, Oklahoma, with client assets nearing $130 million, contributed to this resilience.
Ameriprise distinguishes itself by prioritizing support for advisors in delivering optimal client service. The firm’s exceptional technological infrastructure, robust financial planning capabilities, diverse investment lineup, and streamlined business processes have attracted advisors seeking to enhance their service models and professional practices.
Lance Lively’s decision to align with Ameriprise was driven by his aspiration to expand his practice with the flexibility to grow and manage staff according to his terms. The firm’s track record of successfully facilitating advisor transitions played a pivotal role in Lively’s choice, underlining the importance of receiving robust support during such transitions.
Lively is accompanied by Client Service Specialist Tara Beebe, and the team receives local support from Ameriprise franchise Field Vice President Danielle Dwyer and Regional Vice President Trish Moll.
Ameriprise’s appeal to experienced and productive financial advisors persists, with 340 advisors transitioning their practices to the firm in 2022 and approximately 1,700 joining over the last five years.
