Inventa Wealth Advisors - Ameriprise Financial Services, LLC

T K. _{on Yelp}

Sep 13th, 2020

As an Ameriprise/Inventa Wealth client for over 15 years, I can't say there are many positives. For starters, this firm is a buy and hold type of firm. Corporate tells the Advisors(in my case Travis Kell) what they are buying/selling and then the advisor informs the client. Purchase of equities usually only happened once per quarter and returns were usually under the S&P's performance. In addition the advisors make additional commission selling you things like life insurance policies, Annuities, etc.  Then after a 15+ year timeframe of collecting quarterly commissions and fees, they tack on an additional $125 "per fund" account termination fee, and another $125 "transfer" fee to the new brokerage. Then they want to charge an extra $1200 to complete a yearly financial planning session, which other brokerages do for free as part of the overall package. And if you want to have a meeting with Travis, you better be prepared to call him. He never proactively calls you!  All in Ameriprise is a bank and their advisors are paid commission to sell you things. Everything comes with a fee of some sort. If this is appealing to you, great. My recommendation would be to do some homework and ask about fees, including what happens when you want to leave the brokerage. In the end, Ameriprise did not serve me as well as they could have.