After spending millions to revamp systems and procedures to prepare for the fiduciary rule, Ameriprise won't jettison months of effort should the regulation be overturned.
That was CEO Jim Cracchiolo's message to analysts during an earnings call Thursday, when he sought to explain how the firm's efforts to comply with the rule will leave Ameriprise well situated to compete with rivals in the future. And those efforts are not insignificant; Ameriprise spent $11 million in the fourth quarter, the firm reported.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access