Thinking about leaving the wire house channel in about 4 years time and I should be at $900k In production. I’ve been looking at Ameriprise recently since I like their approach to “supported independence”. Curious to get current Ameriprise franchise owners thoughts and experiences on the firm and affiliation model.

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"Supported independance" is nothing more than a bloated executive mgmt and back office. It is not a simple grid. They will look to nitpick everything about your business, and your costs will rise. (compensation and cost literally tearing away your margins) Also, they have condoned poaching within the ranks of advisor clients by looking the other way. Ask a few of their independent channel advisors in person before you decide. True independence means getting more pay via a higher grid, with the only overhead being the true costs that you decide on. Many indy firms are just that. (being a former Ameriprise advisor, I saw this firsthand)

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Have you considered going completely independent and filing as a RIA? At 900k of production, you could easily hire a compliance officer and get the infrastructure up and running without having to go through any GDC and have plenty of cash flow leftover. My business partner and I did this after two years at Cambridge Investment Research and a decade at an insurance company prior to that where we both started our careers. We both enjoyed our time at Cambridge but going completely independent is a entirely different thing and we have no regrets. Less constraints when/if you sell your book of business years down the road.

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Although I am not a franchise owner — I am an AFA within a great franchise within Ameriprise. Our experience has been great overall. Ameriprise gives us a lot of support with tools and research as a firm in order to be efficient on a daily basis. If you’re interested in hearing more from I can share my phone number if you would like. Just let me know!

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