Jame M Cracchiolo Chairman and CEO stock sale after Website Blunder
With the real pathetic website change and the same old cheap servers, the Chairman and CEO sell millions in stock. This company has over paid him and under invested in equipment and website programing and man power. While others have 24/7 service, Ameriprise has steadily cut back on service and hours. At the same time, the Executive Pay has skyrocketed. I do not know how long I will put up with this level of service as others offer incentives to switch. No one else charges extra for a limit order, and a lot of brokers offer free exchange fund trading. The timing of the sale may have to do with the exit of many customers after this change in the website which appears to be more like a downgrade than an upgrade. Too many features were added and no much thought went into the load on the equipment to make it work. Also, some old passwords do not work any more and information can not be toggled to as smoothly or seamlessly as before. In short, the new website sucks and needs a $10 or $20 million new equipment. By cutting Executive pay Ameriprise should be able to find the money. Adding more people and hours would be competitive. What the hell do you do if you have an emergency and this outfit gives you sorry try us on Monday.
You're truly missing the boat here. You cannot compare Ameriprise to a brokerage house like Schwab, ETrade, Scottrade, etc. The reason why a client chooses Ameriprise is to get advice on how to best structure their financial life. Therefore, why would it be necessary for a client to make their own decisions on every little nit picky thing like certain trades and what not? It undermines the advice given by the advisor and would contradict the point in why you'd want to work with an advisor in the first place.
no tiger, you and the rest of ameriprise are missing the boat here, they have serious problems and are losing clients, you don't go to a broker for what you say so you can lose money, they need a good platform and should by a broker with one if they can't get one and they should totally trash what they have and start with a good one. even the people you go to for advice have problems with this system and its poor fills etc. What good is the advice if the trade can't get done at a good price or timely manner. You and staff need to listen to the complaints rather than feather your nests with stupid inane answers and kiss off the complaints.
I would have to totally agree with you, then add to that the India servicing and you have a real fiasco. Their on line trading platform is the worst of the 4 brokerages that I use. The only reason I have stayed with them is because I have been with my broker for 20 plus yrs. otherwise I would have left long ago, even with free stock trades they are higher because of fees than other companies and then you add in their platform that messes up every other trade and it is impossible to use it for any day trading YOu also can not do option spreads on it. It is one of the most antiquated systems. I have been talking to people up the chain and telling them they need to quit working on this platform and to totally throw it away and buy rights to someoneelses platform They should visit some other sites. With this type of service the stock is a short. I sold my stock a long time ago when this first got bad.