Question · Q3 2025
David Giunta asked for clarification on administrative changes impacting net new assets and requested an update on the current advisor headcount. He also questioned whether regional bank M&A risks would limit deals in the bank channel or provide opportunities.
Answer
Chairman and CEO Jim Cracchiolo explained that administrative changes were a one-time adjustment to wrap programs for consistency and declined to provide an updated advisor headcount, stating it was consistent with normal growth. Regarding regional bank M&A, he acknowledged it presents market adjustments but stated Ameriprise's bank focuses on organic wealth management growth for its clients, not further expansion into the banking business.