Ameriprise Financial, Inc. (NYSE:AMP)

motgaw (< 20) Submitted: 12/14/2010 7:04:21 PM

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Interesting looking back at your comments after a year passes. I hope you research your companies better than this one. You make some very gross generalizations to cast negative light on a company whose integrity and ethics have shown very brightly over the last several years. AMP is one of the only financial institutions that has not had scandalous press throughout the financial industry meltdown. They never took a dime of TARP money. They were managed so well, they were one of the few companies positioned financially strong enough to acquire other companies, most notably Seligman and Columbia Investments. I'm glad I have owned this company and will continue to do so as it continues hitting 52 week highs.

Do your homework better next time. One recruitment meeting does not a company make. By the way, I take it they did not offer you a job.

jmt587 (99.85) Submitted: 1/21/2011 11:16:45 AM

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They definitely didn't. My friend that worked there told me later that the meeting I went to became infamous because of the difficult questions that one other guy and I asked throughout. I think we probably ruined that class for them. (Their recruiting classes weren't like a typical job fair type thing, this was more of a multi-level-marketing thing, where you make money based on a little bit of your own sales, while most of the profit from your sale goes "up the chain" to the people that recruited you, and the people that recruited, them, etc. And the company gets its cut, of course. So the more people they could hire, the better, because they only paid based on commission. And the only way you could really make decent money was to recruit people and get them selling the products.)

I'm glad to hear you've made money on the stock. I'm 4/6 on my red thumbs on AMP, with a loss of about 115 points, net, at the moment. We'll see if I turn it around. If the company has turned things around since I went to this meeting 10 years ago, I likely won't. We'll see though, we'll see.

You ever worked there? There's a bit of that fanatical ring to your comment that sounds like the employees that were there then. Easily to mistake that with an equity owner though.

jmt587 (99.85) Submitted: 1/21/2011 11:31:24 AM

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Also, your comments make you seem fairly ignorant of their business model. Did anyone in their industry take TARP funds? They are a financial products / planning / services company. Not a bank. Charles Scwab or Raymond James didn't take any TARP money either. Why would they even need to?

And what do you mean, their "integrity and ethics have shown very brightly over the last several years"? Shown so brightly where? Places like this?:

http://www.ameriprisesuck.com/

If you google them, that is the 6th result. After 4 ameriprise.com sites, and their wikipedia entry. The wikipedia entry, interestingly, has a section called "Criticism & controversy" listing an awful lot of settlements and government actions against the company for bad dealings. Not exactly a paragon of ethics and integrity, at least in the past, but maybe we define that differently, or maybe they're completely different now.

jmt587 (99.85) Submitted: 1/26/2011 3:07:46 PM

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I found another neat website!:

http://www.consumeraffairs.com/finance/ameriprise.html

Poor customer service is a recipe for poor financial results, long term.