Ameriprise Financial Account Types

Ameriprise Financial offers several types of accounts for investors, including:

• Transaction-Based Brokerage Accounts: These accounts allow clients to buy and sell a wide range of investment products, including stocks, bonds, mutual funds, and options. Clients may incur transaction fees, commissions, and account maintenance fees.

• Fee-Based Investment Advisory Accounts: These accounts provide clients with professional investment management services. Clients pay an annual asset-based fee, which covers advisory services and transaction costs when trades are executed through Ameriprise's affiliated clearing agent.

• Individual Retirement Accounts (IRAs): Ameriprise offers various IRAs, including traditional IRAs, Roth IRAs, and simplified employee pension (SEP) IRAs. These accounts are designed to help clients save for retirement while benefiting from tax advantages.

• Ameriprise One Financial Account: This cash management account combines features of a checking and savings account, offering check-writing capabilities and bill pay. It requires a minimum opening deposit of $500 and has a quarterly maintenance fee of $25, which can be waived under certain conditions.

• 529 Plans: Ameriprise provides tax-advantaged savings plans for education costs. These accounts can include a variety of investment options and are designed to help clients save for future education expenses.

Ameriprise Financial Broker Account Opening Process

To open a broker account with Ameriprise Financial, follow these steps:

• Determine Account Type: Decide which type of account best suits your financial goals, whether it's a transaction-based brokerage account, fee-based investment advisory account, IRA, or the Ameriprise One Financial Account.

• Contact an Advisor: You cannot open an Ameriprise One Financial Account online. Instead, you need to call 800-297-2012 or visit a local Ameriprise office to speak with a financial advisor.

• Provide Required Information: When opening an account, be prepared to provide personal information, including:

• First and last name
• Date of birth
• Physical address
• Social Security number
• Details from a drivers license or government-issued ID

• Complete Necessary Documentation: Review and sign the required documents, including the Ameriprise brokerage client agreement, and any other important brokerage disclosures.

• Fund Your Account: For accounts like the Ameriprise One Financial Account, you will need to make an initial deposit of at least $500. Other accounts may have different funding requirements.

• Account Approval: After submitting your application and funding your account, wait for approval. Your advisor will guide you through the process and help you set up your investment strategy.

For further details on account types and the opening process, visit Ameriprise Financial and consult with a financial advisor.