What bank does Ameriprise Financial use?
Ameriprise Financial is a massive, independent diversified financial services company that operates its own banking subsidiary, Ameriprise Bank, FSB, alongside maintaining strategic custodial relationships with major financial institutions. Ameriprise utilizes its internal banking charter to provide tailored credit solutions, mortgages, and cash management accounts for its wealth management clients, while also partnering with external custodial banks to clear securities transactions and safeguard client assets across its vast brokerage and advisory network.
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Ameriprise Financial employs a comprehensive fee structure that varies depending on the specific advisory service, wealth management program, or brokerage account selected by the client.