Ameriprise Financial is investing approximately $1 billion annually in technology, including artificial intelligence capabilities, platform improvements and supporting infrastructure.
The company is integrating AI into financial advisor workflows to help advisors identify growth opportunities, reduce administrative work and provide more personalized service to clients.
Ameriprise said human judgment and advisor-client relationships will remain central to the advice process.
The company is developing AI-powered insights that can help advisors identify client needs, strengthen relationships and prioritize activities associated with practice growth.
Ameriprise said advisors using its insight capabilities have experienced a significant increase in net asset flows, based on an internal comparison of users and nonusers during 2024.
The company is also embedding AI into routine operational processes to reduce the amount of time advisors and their employees spend on administrative tasks.
Additional applications include personalized meeting preparation, faster service resolution, virtual assistance, fraud detection and voice authentication.
Ameriprise has spent years integrating its data, systems and automation tools into a connected technology environment.
The company believes this foundation allows it to deploy AI more quickly and securely than firms relying on fragmented legacy systems.
Ameriprise combines proprietary technology with selected external AI models and products from other technology companies.
The company is also providing training intended to help more than 10,000 affiliated financial advisors and their employees incorporate AI tools into daily work.
Ameriprise has provided financial services for more than 130 years and offers financial advice, asset management and insurance products.
KEY QUOTES:
“We anticipated these shifts and invested accordingly, building an interconnected technology ecosystem that brings together data, systems and automation.”
“That foundation allows us to innovate faster and bring new capabilities to advisors in ways that fit seamlessly into how they work.”
Jim Cracchiolo, Chairman and CEO of Ameriprise Financial
“The future of advice isn’t about choosing between technology and human expertise, it’s about bringing them together in ways that create better outcomes for clients.”
Gerard Smyth, Executive Vice President and Head of Technology and Service Delivery at Ameriprise Financial
