Ameriprise CEO says firm focused on productivity as headcount slips again

February 1, 2020 by Tobias Salinger

Ameriprise’s financial advisor headcount is slipping, but CEO Jim Cracchiolo says he expects its force of nearly 9,900 to “pick up a bit” in 2020. He also points out that recruitment is fueling the broker-dealer’s higher revenue, earnings and client assets.

“We actually feel good about the recruitment,” Cracchiolo told analysts on a Jan. 30 call after the firm reported fourth-quarter earnings. “We’re actually focused a bit more on higher productivity. And so the average productivity of the people who are leaving us [is] still much lower.”

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Originally Posted at Financial Planning on February 1, 2020 by Tobias Salinger.