Ameriprise Financial: A Stock to Avoid
Stocks to avoid: Ameriprise Financial (ticker AMP).
Over the next several months, I will be highlighting some of the most offensive publically traded companies on Wall Street. As I aim to help you shed light on your investments, I will not only show you stocks to avoid but show you companies doing some great things within the community and our world. Today we will look at Ameriprise Financial.
Warren Buffett got it right!
He sold off all of the Ameriprise shares that Berkshire Hathaway (BRK.B) acquired through Ameriprise’s spin-off from American Express. Though Warren did so after doing a financial analysis, I recommend avoiding the stock for moral reasons:
Catering to the homosexual community
In 2007 & 2008, Ameriprise Financial received a perfect 100 percent rating on the Human Rights Campaign (HRC)’s Corporate Equality Index (CEI). This indexes measures how proactive a company’s policies are in relation to their gay/lesbian/bisexual and transgender initiatives. Factors include such things as non-discrimination policies, diversity training and domestic partner benefits. When you go to their website you can search for advisors specializing in “domestic partner benefits”. They have even run promotional ads asking, “Does your advisor have gaydar?”
They have long been an “out and equal work place”, lobbying, and working hard to promote the homosexual agenda and offer same-sex benefits. It’s one thing to be kind, respectful, and dignified toward those in a homosexual lifestyle. It’s another to promote and lobby for accepting this lifestyle choice. Yet, they are proud of their stance as shown by their advertisement on page 69 of the October 2009 issue of The Advocate. They state, “Ameriprise Financial has been a leader in financial planning for the gay and lesbian community for decades.” The ad also proudly displays their HRC Corporate Equality Index logo.
If you want to advertise on homosexual friendly sites as an advisor it is often approved. Yet any mention of God or faith, and it is shot down… What gives? Companies do have the right to allow or disallow whatever they deem appropriate. Ameriprise happens to favor homosexuality over expression of faith. Is this a company you want to support?
Unethical practices?
Additionally, Ameriprise has found themselves in hot water for many unethical violations. Ameriprise has been involved in over 41 different lawsuits for everything from failing to supervise its advisors to covering up forgery and a whole host of other issues. To see more, go here: http://wiki.ameriprisesuck.com/index.php?title=Lawsuits
No company is perfect, but Ameriprise is a stock on our boycott list at http://www.faithbasedinvestor.com for their immoral and unethical practices. With all of the great investment opportunities available, Ameriprise doesn’t hold light in this world of darkness.
2 Comments
we were sold a tif property through an amerprise agent, long after amerprise and bnc bank knew that duane lund , owner of the property was in a big money problem. he had not paid property taxes faked bills and yet they continued to offer as a very good tif investment, even tho he admitted to the bank that he had mis appropiated funds. now they are denying everything. we had opted to invest in another property and at our very last hour to qualify they pulled it away and substitued this property. i am thinking a bigger commission at amerprise to the people involved. WHAT CAN WE DO?
[...] or find another job. It is quite interesting how left leaning corporations like Home Depot, Ameriprise, and now Cisco Systems, who proactively support homosexuality, claim to be tolerant until you [...]