With the fiduciary rule partially in effect, Ameriprise says it’s all hands on deck to navigate a swiftly changing regulatory environment. Among other efforts, the firm has in recent months conducted more than 100 instructional sessions focused on the Department of Labor’s rule.
The firm is “well-prepared” for the regulation after spending $30 million on compliance last year, CEO Jim Cracchiolo said in a conference call Wednesday following the release of Ameriprise’s second-quarter financial results.
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