No commissions, no ads, no advice. This Ameriprise Financial profile draws only on public records, each linked so you can confirm it yourself.
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Check the SEC adviser record. Open the SEC's IAPD record for Ameriprise Financial (CRD #6363) and confirm its registration.
Read the filings. Review the Form ADV / Form CRS and any disclosure section linked from the IAPD page.
Confirm the entity. Match CRD #6363 / Ameriprise Financial Services so you're reading the right firm.
The short answer: is Ameriprise Financial a fiduciary?
Yes. Ameriprise Financial is a fiduciary when it acts as your investment adviser. Publicly, it files with the SEC as Ameriprise Financial Services (CRD #6363). As of its latest Form ADV (filed September 25, 2026), the firm reported $660.5 billion in regulatory assets under management (a firm-reported figure). Its Form ADV (Item 5.E) lists how it is paid: a percentage of assets under management, hourly charges, and fixed fees.
Its Form ADV also reports that the firm itself is registered as a broker-dealer, and brokerage accounts fall under Regulation Best Interest instead. Ask which capacity covers each of your accounts. The firm must tell you.
What "fiduciary" means: a fiduciary is legally bound to place a client's interests above its own. (More on fiduciary duty)
Ameriprise Financial at a glance
✅ Verified from public filings, last checked October 5, 2026. Ameriprise Financial (SEC CRD #6363) is a fiduciary when acting as your adviser, on an advisory-fee basis, with $660.5 billion in regulatory assets under management. Every figure below links to its primary source.
What | Ameriprise Financial | Source |
|---|---|---|
SEC CRD | #6363 | |
Registration | Investment adviser and broker-dealer | |
Registered since | December 5, 1986 (SEC) | |
Fiduciary? | Yes, when acting as your adviser | |
Fee model | Advisory fees (no commissions reported in Item 5.E) | Form ADV Item 5.E |
How it's paid | A percentage of assets under management, hourly charges, and fixed fees | Form ADV Item 5.E |
Regulatory Assets Under Management | $660.5 billion (Form ADV filed September 25, 2026) | |
Client accounts | 2,424,045 (1,522,835 discretionary) | |
Employees | 14,056 (12,681 in advisory roles) | |
Ownership | Parent-owned | |
Disclosures | Form ADV answers Yes to one or more disciplinary questions. Read them on IAPD | |
HQ | Minneapolis, MN |
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Ameriprise Financial fees: what you'll pay
Ameriprise Financial charges advisory fees: its Form ADV (Item 5.E) reports no commissions for its advisory services. Its filing also reports broker-dealer, insurance or other sales activity by the firm or a related company, business that can be paid by commissions. That split matters here because one firm can hold both an advisory account billed on your assets and a brokerage account where pay can come from commissions. Ask how each part of the relationship is paid. The details are in its Form ADV Part 2A, alongside the three pay methods listed above.
Advisory fees are what clients pay the adviser directly. Commissions earned through a related broker-dealer or insurance business are a separate source of pay. For how that differs from a firm paid only by clients, see Fee-only financial advisor: costs and how to find one, and for judging the size of a fee, Are you paying too much? Why that might be the wrong question.
Who owns Ameriprise Financial, and what conflicts does it disclose?
Ameriprise Financial Services is owned by Ampf Holding, LLC, as listed in Schedule A of its Form ADV. (Form ADV Schedule A) Schedule A names only direct owners. Indirect owners further up the chain, including any publicly traded parent company, are reported in Schedule B, so read both schedules to trace the full ownership line.
Its Form ADV Part 2A describes the firm's conflicts of interest, including how it and its advisers are paid.
Ameriprise Financial SEC record: disclosures
Ameriprise Financial's regulatory record is best traced through the firm's own filings first. Ameriprise Financial's Form ADV answers Yes to one or more disciplinary-history questions. A disclosure can be a regulatory, civil or criminal matter involving the firm or a related person. Read each item in context on IAPD before drawing conclusions. Any Ameriprise Financial disclosures sit on the public record, not on anyone's characterization of them.
On the record, the firm has been registered with the SEC since December 5, 1986, makes notice filings in 51 jurisdictions, and reports 14,056 employees, 12,681 of them in investment advisory roles. That is about 90.2% of staff in advisory work, according to its Form ADV. Whether Ameriprise Financial is legit is quick to settle on registration: it has a public CRD and public filings anyone can pull. Registration shows it's a real, regulated adviser, not that it's the right fit for you.
Reading Ameriprise Financial reviews against the public record
Star ratings and client comments describe what working with a firm felt like. They usually don't show what the firm reports to regulators. Before you weigh Ameriprise Financial reviews, check three things this profile takes from the public record. First, how the firm is paid: it reports advisory fees and no commissions, but it has a broker-dealer or insurance connection. Second, who owns it and what conflicts it discloses. Third, whether its Form ADV reports any disciplinary history. Read reviews alongside the record, not instead of it.
How to verify Ameriprise Financial yourself
Prefer to confirm it firsthand? Three steps:
SEC adviser record (IAPD): https://adviserinfo.sec.gov/firm/summary/6363.
Form ADV / CRS: linked from the IAPD page.
Confirm the entity: match Ameriprise Financial (CRD #6363, legal name Ameriprise Financial Services) so you're reading the right firm.
To compare it with other firms checked the same way, browse the Truthifi /advisors hub.
What Ameriprise Financial does and who it serves
On its Form ADV, Ameriprise Financial reports providing financial planning, portfolio management for individuals, small businesses and institutions, pension consulting, selection of other advisers, newsletters, and educational seminars.
It reports providing financial planning to about 628,500 clients in its last fiscal year (Form ADV Item 5.H), a count the form keeps separate from the client totals below. That equals about 45.3% of the Item 5.D client total, a large share, so confirm it on the filing itself.
Its Form ADV (Item 5.D) breaks its clients down by type, about 1,386,329 in all:
Client type | Clients | Assets managed |
|---|---|---|
Individuals | 1,189,138 | $278.45 billion |
High-net-worth individuals | 183,925 | $368.50 billion |
Pension and profit-sharing plans | 7,105 | $5.02 billion |
Charities | 2,335 | $3.02 billion |
State or municipal government entities | 540 | $1.37 billion |
Insurance companies | 11 | $8.6 million |
Corporations or other businesses | 3,260 | $4.11 billion |
Other | 15 | $4.8 million |
It reports 2,424,045 client accounts, more than the roughly 1,386,329 clients counted above (many clients hold more than one account), 1,522,835 discretionary (the firm can trade without seeking your approval first) and 901,210 non-discretionary (Item 5.F). Its main office is in Minneapolis, MN.
It reports it does not itself take custody of client assets, though a related person does (Form ADV Item 9.B).
What the client mix tells you
Read the Item 5.D table by assets rather than headcount and the firm looks different. High-net-worth individuals are about 13.3% of clients but hold $368.50 billion, roughly 55.8% of the $660.5 billion total. Ordinary individual clients make up about 85.8% of clients. By our arithmetic, they average around $234,000 each, against roughly $2.0 million per high-net-worth client.
Discretion is the norm too: about 62.8% of accounts let the firm trade without seeking your approval first. Service levels and pricing commonly scale with account size, so ask which terms apply at your asset level rather than the firm-wide headline.
Questions to ask Ameriprise Financial before you hire or stay
Our recommendation: get written answers to three questions before you sign or renew.
Which of my accounts are advisory and which are brokerage? The fiduciary standard applies to the first; Regulation Best Interest covers the second.
What fee applies at my asset level, and does any product I hold pay a related company? Item 5.E lists three pay methods, and the filing reports related sales activity.
Which disclosures on IAPD involve the firm or my adviser, and how were they resolved?
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Confirming the firm is the easy part. Seeing everything you hold is the valuable one.
Confirming Ameriprise Financial is registered takes a few minutes. No advisor, however good, sees your whole financial life by default. The held-away retirement plan, a spouse's portfolio and the costs inside a fund show up scattered and unreconciled. This is where Truthifi comes in.
How Truthifi can help
Truthifi links your accounts read-only and shows what you own, how it's allocated, how it's performing and where the risk sits, including single-stock exposure, returns next to a benchmark, a fee breakdown of the fees on each account, by type, and your Truthifi Score. You can share the accounts you choose with your advisor at Ameriprise Financial.
What each Truthifi plan unlocks:
Monitoring Checkup: free, with limits. Per Truthifi's published plan terms, it lets you link up to 10 connections.
Your own AI assistant: a paid Truthifi plan lets you connect an AI assistant that supports MCP sign-in, such as Claude. Truthifi Connect is the lighter membership for people who only want to use their own assistant.
Fee questions: asking your assistant about the fees on each account needs Monitoring or Monitoring Plus+.
Ask AI about your Ameriprise Financial accounts
Once your accounts are connected read-only, you can ask in plain English:
"What do I own across my Ameriprise Financial accounts and everything else, and how is it allocated?"
"What am I paying in fees across all of these accounts?"
Try it with Truthifi: start for free at app.truthifi.com and run a Monitoring Checkup (limits apply).
No commissions, no ads, no advice: Truthifi is not an investment adviser and doesn't give investment, tax or legal advice. Its access to your bank and brokerage accounts is read-only. Start free (limits apply). Plans and limits are on the pricing page → truthifi.com.
The filing tells you how Ameriprise Financial is paid; only your own statements show what that pay costs you.
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FAQ
Is Ameriprise Financial a fiduciary? Yes, when acting as your adviser. Its Form ADV reports that it is also a broker-dealer, and brokerage accounts fall under Regulation Best Interest instead. Ask which capacity covers each of your accounts.
Is Ameriprise Financial fee-only? Not necessarily. Its Form ADV (Item 5.E) reports no commissions for advisory services, but the filing also reports broker-dealer, insurance or other sales activity by the firm or a related company, which can be paid differently. Ask how everyone you deal with is paid. The details are in its Form ADV Part 2A.
Who owns Ameriprise Financial? Ameriprise Financial Services is owned by Ampf Holding, LLC, as listed in Schedule A of its Form ADV. Schedule A shows direct owners only; indirect owners further up the chain are listed in Schedule B.
Does Ameriprise Financial have complaints or disclosures? Yes. Its Form ADV answers Yes to one or more disciplinary-history questions. Read each item on IAPD, in context. A disclosure is not by itself proof of current wrongdoing.
Is Ameriprise Financial legit? Ameriprise Financial is registered with the SEC (CRD #6363) and its filings are public on the SEC's IAPD site, which confirms it is a real, regulated firm. Registration doesn't tell you whether it's the right fit or what you'll pay, so read the fee and conflict sections of its Form ADV.
Can AI help me check whether I'm getting good value? Yes. Start free (limits apply): Monitoring Checkup is free and lets you link up to 10 connections. You can also connect an AI assistant you already use (such as Claude). On Monitoring or Monitoring Plus+ you can ask it, in plain English, about the fees on each of your accounts. Truthifi is not an investment adviser and doesn't give investment, tax or legal advice.
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About this profile
Truthifi built this profile from the firm's own SEC filings (Form ADV and, where filed, Form CRS). Every page is reviewed by the Truthifi Team before publishing. The Truthifi advisor fact packs are an ongoing series checking U.S. investment advisers against their public filings, one firm at a time.
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A note on sources. The facts on this page come from publicly available documents, Ameriprise Financial's SEC and FINRA filings, each linked inline so you can verify it yourself (SEC data current as of October 5, 2026). This is general information, not financial or legal advice, and Truthifi is not affiliated with Ameriprise Financial. Regulatory records change, so always confirm against the official sources linked above. Spot something that should be corrected? Email us at support@truthifi.com.
Disclaimer: This article is for educational purposes only and does not constitute financial, tax, or legal advice. It should not be construed as a personalized recommendation regarding any investment, financial advisor, or financial product. All calculations use hypothetical scenarios and historical return assumptions; actual results will vary. Past performance does not guarantee future results. Consult a qualified financial professional for guidance specific to your situation. Truthifi is an investment monitoring platform — not a financial advisor, broker-dealer, or tax professional. Truthifi does not manage assets, recommend investments, sell financial products, or provide personalized financial advice. Truthifi earns no revenue from advisor referrals, product commissions, or AUM fees. Statistics and data cited reflect publicly available sources current as of the article’s publication date. Sources are linked throughout.