Ameriprise

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.

The advisor failed to disclose the low-interest loans he received from a fraudulent crypto securities issuer in exchange for selling the products, investigators say.

Financial advisor Alan Kodama’s team aligned with the No. 1 IBD as it reeled in $35 billion in recruited client assets in the second quarter.

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.

The giant wealth manager is re-hitting its stride after its best quarterly net gain in advisors in at least two years.

Two representatives in a New Jersey office made lewd comments and created a hostile work environment, the former employee says.

The firm’s recruiting is also gaining steam, despite the ongoing impact to its bottom line from low interest rates.

The acquisition will add $124 billion of European AUM and give Ameriprise access to the Canadian bank’s ESG strategies. It will also initiate a distribution relationship with the Bank of Montreal’s North American wealth management business.

The rare move to set aside the regulator’s ruling came more than a decade after the rep ran into trouble by adding notes about his client into a software program.