Ameriprise Financial, the advisor group spun off in 2005 from American Express, announced August 12 that it had signed an agreement to acquire H&R Block Financial Advisors (HRBFA) for $315 million in cash; the deal is expected to close in four to six months, said Ameriprise in making the announcement. There are about 900 advisors employed by HRBFA; according to a release from Ameriprise, they “will become Ameriprise Financial-branded employee advisors and will strengthen the company’s presence in key markets, including Florida, Texas and California.” With those added reps, the newly combined company will count 13,000 total reps; HRBFA will also bring in 376,000 client accounts and $30 billion in client assets, and Ameriprise said “HRBFA advisors will receive attractive retention packages as part of the transaction.”
Consumer groups cheered the passage of the Forced Arbitration Injustice Repeal Act.
By shaping and managing your brand, you control a vital aspect of your buying and selling power.
Three units improperly charged advisory fees on inactive client accounts and charged excess commissions for UITs, the SEC said.
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