Program helps sponsoring advisors accelerate growth and efficiency in their practices through intensive training and development of their Associate Financial Advisors.
Ameriprise Financial is launching a new training program designed to advance the development of the next generation of financial advisors, while at the same time driving growth for their practices. The Associate Financial Advisor Business Development Program sets up licensed Ameriprise Associate Financial Advisors (AFAs) for long-term success in the industry by teaching them to consistently deliver a goal-based, premium client experience.
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With more than one-third of financial advisors in the industry expected to retire within this decade1, there is a critical need to develop the next generation to prevent a talent shortage. The program is an attractive offering for established Ameriprise advisors who are looking to address this challenge by developing talent and broadening the expertise of AFAs on their staff.
“At Ameriprise, we are committed to the success of each of our 7,800 independent financial advisors – at all stages of their careers,” said Bill Williams, Executive Vice President of Ameriprise Independent Advisors. “We launched this unique program because we know independent advisors want to develop their teams, but they may not have the time or resources to do it effectively on their own. Our training can help them accelerate the process, advancing the expertise of their AFAs so they can build an even stronger future for their practices and the clients they serve.”
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AFAs who complete the six-month program will develop client acquisition skills, deepen existing client relationships, and increase assets under management for their practices. These skills will enable AFAs to take on more responsibilities, freeing up time for their supporting advisors to focus on broader strategic priorities, including succession planning.
Proven culture of learning
One hundred percent of those surveyed after graduating from the program’s pilot said they feel confident in their ability to “begin building a new relationship and understanding someone else’s needs and goals” based on what they learned in the sessions. Additionally participants acquired nearly twice the number of clients and more than quadrupled the revenue of their peers.2 As a result of its success, Ameriprise won a Gold Medal Award for the pilot in late 2020 by independent learning and development research firm Brandon Hall.
Having pioneered financial planning 50 years ago, Ameriprise has a rich culture of continuous learning and development focused on helping clients achieve their goals for the future. All coursework in the Associate Financial Advisor Business Development Program is conducted virtually, enabling AFAs to take part from anywhere across the country.
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