Securities America, the broker-dealer firm owned by Ameriprise Financial, may be closer to a sale amid word that its reps and advisors are being asked to sign loyalty pledges -- a common practice that often occurs when the sale of a company is being negotiated.

A Securities America employee who did not want to be identified said the letter wasn't conceived by management but rather it was the product of a “grassroots” effort by reps and advisors within the company who said they have no intention of leaving for another platform and wanted to do something to help boost morale.

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