Ameriprise Financial

Jim Cracchiolo told analysts that the firm's retention "is quite good," even though his company, like many of its rivals, stopped providing statistics to verify such claims.

Despite only a slight increase in its headcount of financial advisors amid tough recruiting fights, the firm reeled in record productivity, assets and advisory flows.

The firm's total advisor headcount holds steady while its assets under management swell to $816 billion.

Despite tough economic conditions for most of 2022, the company reeled in a record inflow of client assets.

The brokerage added more than 200 independent financial advisors for the second quarter in a row while driving up the productivity of its existing ranks.

CEO Jim Cracchiolo views incoming advisors as “a continued good opportunity” for the firm, he told analysts on an earnings call.

The regulator charged RiverSource with violating a provision of the Investment Company Act that’s never previously been part of an enforcement action.

The firm’s financial advisor headcount and its client assets drove up its business in the first quarter, despite the impact of lower asset values.

CEO Jim Cracchiolo acknowledged that the firm attracted fewer experienced reps in the second quarter, even as its headcount ticked up by 2%.

Banks and other institutions are driving significant recruiting moves while aiming to convince more members and clients to sign up for financial advice.