Last Updated on Jul 30, 2020 by James W

Discovering the best financial advice with the help of the people whose job is to take care of each and every financial step you make is one of the most intriguing aspects in today’s life. Regardless of how difficult (or attractive) this might seem to you, even the financial planners have their ups and downs. Usually, this criterion is highly linked to someone’s everyday life, reason why you might want to consider even other additional aspects that are bound to improve your financial planning on the go. This is yet again another useful tip to be in the known of – as well as to use at its best. These being said, in case you are looking forward to knowing more concerning the subject, make sure to stick with us and keep an eye onto the following lines in order to see just how does Vanguard compare to Ameriprise for financial advice!

  1. Bad Investments

With loads of choice upon the table, Ameriprise managed to receive quite a bag image in the vast industry. This happened due to the fact that the entire investment procedure was not at all good, and they were faced with the general view that they make no good investments on the long run. Believe it or not, as a financial advisory, you must show that your financial supposition regarding various investments usually go hand in hand – which in turn show that you made some great choices here and there. When things do not work out as planning, you might be surprised by the total outcome – which, in this situation, show that Ameriprise made no perfect choice when it comes to the entire investment policy.

  1. Annual Fees
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Just like any other financial advisory company, Ameriprise charge you with $750 in annual fees. Together with this one, you also have to pay some hidden fees – some that you do not see at all. Beware, Ameriprise usually work with some of the highest fees around, so you might want to keep an eye on your financial matters as soon as you decide to jump in order to get the outcome expected. On the other hand, the expense ratio related to Ameriprise lays between 1.0% and 1.5%, which is higher than the counterpart – Vanguard comes with somewhere around 0.25% and 0.5%. With a simple math, we can clearly see that the difference is of about 0.8% more in terms of mutual funds. And in a given real situation, you are able to pay $800 more each and every year per every $100,000 invested.

  1. Best Interests

When it comes to choosing your own and best financial advisory, Ameriprise is not necessarily your best financial friend at all times. Basically, this happens due to the fact that there is no responsibility hidden in there – instead, all of the financial advisory are doing their job at their best, yet it does not necessarily mean that this works just as expected. Even though there are choices that are definitely better for you to make, there are few chances you could take up at least one of them – and here we are talking about the fact that even if a different mutual fund might suit you better, your Ameriprise financial advisory is far from telling you this. Instead, he might slowly direct you towards choosing the option that he finds the most attractive – but not the one suitable to your needs. Yet, the same thing applies with the other financial advisory companies – no Ameriprise financial advisory will ever tell you that Vanguard is a better choice (or vice versa).

  1. Philosophy
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Both of the companies share common elements in terms of general philosophy. While Ameriprise is more focused on self-growth, Vanguard is your friend to go in terms of directing investors to invest into low-cost places, all held up by Ameriprise. Moreover, Ameriprise is known as a financial advisory company that charges any user per advice provided, which in turn is seen rather as a good or a less wonderful choice. It is important to know that here is one of the major differences between the two, since Vanguard is also a financial advisory company yet it is more centered on the profile of the customer. The main difference In between the two, still, is to know for sure which of the companies suits your expectations the best.

These being said, what are you still waiting for? Have you already managed to make up your mind and decide between Vanguard and Ameriprise? If so, we are looking forward to hearing from you – and seeing if our reasons do match, at least at some extend. Both Vanguard and Ameriprise are two of the most interesting financial advice companies to purse, yet the main difference lies in what you want to do with their help.


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