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Ameriprise Adds $7B Credit Union to Its BD Platform

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What You Need to Know

  • Idaho Central Credit Union has more than $7 billion in assets.
  • This is just the latest example of Ameriprise expanding its footprint.
  • The credit union established a wealth management program with five financial advisors.

Idaho Central Credit Union has selected Ameriprise Financial Institutions Group to be its broker-dealer, Ameriprise said Monday.

ICCU has more than $7 billion in assets across its 41 locations throughout Idaho and serves more than 440,000 members, according to Ameriprise, which has a network of 10,000 financial advisors.

By leveraging the Ameriprise platform, ICCU has established a wealth management program, Idaho Central Wealth Management, according to Ameriprise. The Idaho Central Wealth Management program launched with five financial advisors. As its program expands, ICCU will continue hiring advisors to serve members in Boise, east Idaho, north Idaho and Magic Valley, Ameriprise said.

Via the new relationship, ICCU members now have access to a full variety of services and solutions from Ameriprise, including personalized advice and financial planning tailored to their needs; investment solutions to help them achieve their financial goals; and digital capabilities that enable members to connect with their advisors where and how they want, be it in person, online via video or by phone, Ameriprise said.

“When we started designing the wealth management program at ICCU, we knew we needed a strong and adaptable platform,” said Brenda Worrell, ICCU chief operating officer.

“Ameriprise focuses on financial planning and had the products we needed to be able to serve our entire membership,” she said. “Ameriprise has a great reputation, and this helped us recruit the best advisors possible. The platform is phenomenal, and we’re excited to be using it to serve our members and help them achieve financial success.”

AFIG partners with community banks and credit unions to help their clients reach their goals through financial planning and investment solutions. Ameriprise formed the group after acquiring Investment Professionals in 2017.

“We welcome Idaho Central Credit Union to Ameriprise and look forward to partnering with them to help their members plan for their future,” said Jay McAnelly, AFIG group vice president, in a statement.

“With Ameriprise’s combination of high-touch service, personalized advice, robust solutions and suite of integrated technology, our platform provides ICCU with a solid infrastructure to successfully grow its wealth management offering,” he said. “We’re thrilled that ICCU leveraged our recruiting resources to quickly attract talented advisors at the outset of the program, and we look forward to helping them bring more onboard.”

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