Partnership gives Kinecta Wealth Management
clients access to an impressive suite of solutions and services
offered by Ameriprise Financial
Ameriprise Financial (NYSE: AMP) today announced Kinecta Federal
Credit Union, a member-owned financial institution, will transition
the support of Kinecta Wealth Management from LPL Financial to the
Ameriprise Financial Institutions Group (AFIG). Kinecta Wealth
Management includes approximately 20 financial advisors with more
than $2 billion in assets with offices in California and New York.
The conversion is expected to be complete by the end of 2024.
“Our new partnership with Ameriprise Financial allows us to
offer an elevated level of service backed by powerful digital tools
and technology to help our clients achieve their goals with greater
confidence,” said Donna McNeely, President of Kinecta Financial
Management Company. “We’re confident we’ll have top-notch
expertise and resources behind us with Ameriprise, and we’re
excited to bring new capabilities to our advisors and clients.”
Through Ameriprise Financial, Kinecta clients will have access
to a full range of leading services and solutions, including:
- Personalized advice and financial planning capabilities
tailored to their individual needs.
- Robust investment products to help them achieve their
financial goals with more confidence.
- Digital capabilities that allow them to connect with
their financial advisors where and how they want — face-to-face,
online, video or phone meetings.
“The team at Kinecta is deeply rooted and well respected in the
communities they serve – and they saw an opportunity to make an
even bigger impact on clients’ lives in partnership with
Ameriprise,” said Jay McAnelly, Group Vice President, Ameriprise
Financial Institutions Group. “Their decision to move to
Ameriprise is a testament to our differentiated value proposition,
the breadth of our services, and our commitment to providing an
outstanding experience for clients.”
“We’re delighted to welcome Kinecta to the growing family of
financial institutions that entrust Ameriprise with their wealth
management platforms,” said Pat O’Connell, Executive Vice
President and President of the Ameriprise Branch and
Financial Institutions Channels. “Our future together is
bright, and we look forward to extending our outstanding services
and capabilities to Kinecta’s financial advisors and clients.”
About Kinecta
Headquartered in Manhattan Beach, California, Kinecta Federal
Credit Union is one of the country's largest credit unions, with
assets of $6.8 billion and more than 270,000 members from coast to
coast. Banking the Southern California area for more than 80 years,
with additional branches in New York and Florida, Kinecta offers
its members a full range of financial products from banking,
lending and insurance to wealth management services. Kinecta was
voted Best Credit Union in the South Bay in Easy Reader's 2024
"Best of the Beach" poll. Kinecta has 28 branches, and its members
can use a network of more than 5,800 shared branches and access
over 85,000 fee-free ATMs nationwide. For more information on
Kinecta, visit the website and LinkedIn.
About Ameriprise Financial
At Ameriprise Financial, we have been helping people feel more
confident about their financial future for more than 125 years.
With extensive investment advice, asset management and insurance
capabilities and a nationwide network of approximately 10,000
financial advisors, we have the strength and expertise to serve the
full range of individual and institutional investors’ financial
needs. For more information, or to find an Ameriprise financial
advisor, visit ameriprise.com.
About Ameriprise Financial Institutions Group (AFIG)
With more than 30 years[1] serving the investment program needs
of banks and credit unions, Ameriprise Financial Institutions Group
brings a depth of understanding, experience, and knowledge to the
financial institutions space – helping deliver value for
clients/members while driving revenue for the financial
institutions. To find out why financial institutions are partnering
with Ameriprise Financial, visit ameriprise.com/afig.
Ameriprise Financial Services has a partnership with this
financial institution to provide financial planning services and
solutions to clients. The financial institution is not an
investment client of Ameriprise but has a revenue sharing
relationship with us that creates a conflict of interest. Details
on how we work together can be found on
ameriprise.com/sec-disclosure.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect management’s plans, estimates and beliefs. Actual results
could differ materially from those described in these
forward-looking statements. The words “expects,” “expected,”
“would,” or similar expressions are intended to identify
forward-looking statements but are not the exclusive means of
identifying such statements. Forward-looking statements are subject
to risks and uncertainties, which could cause actual results to
differ materially from such statements. Readers are cautioned not
to place undue reliance on these forward-looking statements, which
speak only as of the date on which they are made. Management
undertakes no obligation to update publicly or revise any
forward-looking statements.
Not FDIC or NCUA
Insured
No Financial Institution
Guarantee
May Lose Value
[1] Investment Professionals, Inc (IPI) was founded in 1992 and
specialized in the on-site delivery of investment programs for
financial institutions. Ameriprise Financial, Inc. acquired IPI in
2017, bringing together the years of experience of the two
organizations.
Ameriprise Financial and the financial institution are not
affiliated.
Ameriprise Financial Services partners with financial
institutions to provide investment advisory, brokerage and
insurance services to their clients. This is a contractual
relationship, which earns the financial institution compensation
from Ameriprise for successful referrals. In most cases, the
financial institution also receives a majority of the commissions
and fees generated by Ameriprise financial advisors for the
services noted above. This applies as long as the referred client
maintains a relationship with Ameriprise. Non-licensed employees of
the financial institutions may receive incentives from their
employer for referring clients to Ameriprise. These incentives
create a conflict of interest.
Ameriprise Financial cannot guarantee future financial
results.
Investment advisory products and services are made available
through Ameriprise Financial Services, LLC, a registered investment
adviser.
Securities offered by Ameriprise Financial Services, LLC. Member
FINRA and SIPC.
© 2024 Ameriprise Financial, Inc. All rights reserved.
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version on businesswire.com: https://www.businesswire.com/news/home/20240410544016/en/
Ameriprise Media Contact: Alison Mueller,
Ameriprise 612.678.7183 Alison.G.Mueller@ampf.com
Kinecta Media Contact: Samantha Rubenstein,
Interdependence PR 650.200.6110 364908@email4pr.com
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