Allstate sues Ameriprise for allegedly stealing client information

Bruce Kelly reports:

Allstate Insurance Co. is suing Ameriprise Financial in a spat alleging Ameriprise is stealing Allstate’s confidential information by recruiting the giant insurance company’s salespeople, known as “exclusive financial specialists.”

Ameriprise is allegedly encouraging the Allstate sales agents to create contact lists from customer information, use flash drives and portable electronic devices to download client data, and then solicit Allstate clients once they quit and move to Ameriprise, according to the complaint.

Read more on Investment News.  Ameriprise issued a statement to the publication indicating it believed the complaint to be without merit.

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