Ameriprise Financial CEO James Cracchiolo expressed confidence in the company's recruitment approach despite rising competition and increased hiring bonuses paid by other firms. During an earnings call, Cracchiolo noted that some competitors appear to be "paying up a bit more" than necessary to attract advisors, especially given recent market conditions. Cracchiolo told AdvisorHub that rising interest rates would help normalize these heightened recruitment offers.

Ameriprise reported growth in its advisor ranks, adding 71 experienced advisors this quarter across both employee and independent channels, with the firm's total advisor count increasing by 1 percent year-over-year to 10,368. According to AdvisorHub, the company's employee channel grew 5 percent from last year, though franchisee numbers held steady. Cracchiolo highlighted that, while the firm recruited fewer advisors overall, those hired had more substantial books.

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