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via finance.yahoo.comAsset Management

Ameriprise shares fall after BofA double-downgrades stock on advisor attrition

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Ameriprise Financial Inc (NYSE:AMP) shares slipped 3.6% on Monday after BofA Securities double-downgraded the wealth management firm, warning that an accelerating exodus of high-value financial advisors threatens to weigh on earnings and squeeze profit margins.…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishA major wealth manager's double downgrade on advisor departures can weigh on the stock and the wealth management sector.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Ameriprise shares slipped 3.6% on Monday after BofA Securities double-downgraded the stock.
  2. 02BofA cut its rating to Underperform from Buy and lowered its price target to $445 from $570.
  3. 03Analyst Craig Siegenthaler projects a potential 10% total negative return for investors.
  4. 04Prominent advisor practices, including Rise, Fathom and StackStone, are reportedly moving to rivals such as Charles Schwab.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Ameriprise Financial, Inc.AMPStock481.68 USD-0.37%today -3.82%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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