Financial service companies are always the first in line of action when it comes to providing services to customers who are willing to have professional financial advice from financial advisers and financial planners for such investments in certain situations. One of the most trustworthy and high-quality insurance companies and other services as well is the Ameriprise Financial, Inc. (or Ameriprise insurance company).
Ameriprise Financial, Inc. is an American diversified financial services company. It engages in business through its subsidiaries, providing financial planning, products and services, including wealth management, asset management, and more related services under financial investments.
Ameriprise Financial Headquarters Address
|Traded as||NYSE: AMP|
|Industry focused||Financial Services|
|Founder||John Tappan, J.R. Ridgway|
|Headquarters/Based in||Ameriprise Financial Center
Minneapolis, Minnesota, U.S.
55 Ameriprise Financial Center
Minneapolis, MN 55474
Key People/Executives for Ameriprise Financial
|Mr. James M. Cracchiolo||Chairman and Chief Exec. Officer|
|Mr. Walter S. Berman||Chief Financial Officer and Exec. VP|
|Mr. Colin Moore AIIMR||Global Chief Investment Officer and Exec. VP|
|Mr. William Frederick Truscott||Chief Exec. Officer of Global Asset Management|
|Mr. Joseph E. Sweeney||Pres of Advice & Wealth Management – Products and Service Delivery|
Ameriprise Financial History/Overview
In 1894, John Tappan founds Investors Syndicate in Minneapolis, Minnesota. This marked the beginning of the Ameriprise roots. In 1925, presidential post was given unto Mr. J.R. Ridgway after the death of the original founder.
In the year of 1949, Investors Syndicate changes its name to Investors Diversified Services, Inc. (IDS). And then, the company founds the Investors Syndicate Life Insurance and Annuity Company (currently RiverSource Life Insurance Company) in 1958.
In 1974, the IDS Centre (now IDS Center) is opened in downtown Minneapolis as the company’s headquarters (current main from several Ameriprise financial locations). Continuing from this in 1979, Ridgway family sells off last of its ownership interest. After that, IDS became a wholly owned subsidiary of Alleghany Corporation pursuant to a merger.
In 1984, the insurance company American Express completes its acquiring of IDS Financial Services from Alleghany Corporation; company renamed as American Express Financial Advisors (AEFA)
In 2003, American Express Financial Corporation acquires London-based Threadneedle Asset Management Holdings. While in the year of 2005, American Express Financial Corporation spins off and becomes an independent company named Ameriprise Financial, Inc.; begins trading on the NYSE (AMP symbol) Company’s launching of Ameriprise Bank, FSB began in 2006.
Acquisitions were done in 2008 when Ameriprise Financial acquires H&R Block Financial Advisors for $315 million, and the asset management firm J. & W. Seligman & Co. for $400 Million; declines U.S. Government financial assistance offered due to wide financial crisis. While in 2009, acquisitions continued as Ameriprise Financial acquires long-term asset management business of Columbia Management for $1.2 billion from Bank of America.
To date, Ameriprise has the employee count of over 12,000. Their products are provided across the United States and, by extension, worldwide.
Ameriprise Financial Products
Ameriprise Financial, Inc., through its subsidiaries, provides various financial products and services to individual and institutional clients worldwide. The company has three main segments:
- Advice & Wealth Management segment provides financial planning and advice, as well as full-service brokerage services primarily to retail clients through its advisors.
- Its Asset Management segment offers investment management and advice, and investment products to retail, high net worth, and institutional clients through unaffiliated third party financial institutions and institutional sales force. This segment’s products include U.S. mutual funds and their non-U.S. equivalents, exchange-traded funds, and other related asset products and annuity separate accounts; and institutional asset management products, such as traditional asset classes, separately managed accounts, individually managed accounts, collateralized loan obligations, hedge funds, collective funds, and property funds.
- The company’s Annuities segment provides variable and fixed annuity products to individual clients through affiliated and unaffiliated advisors, and financial institutions. Its Protection segment offers various products to address the protection and risk management needs of retail clients, including life, disability income, and property casualty insurance through advisors and affinity relationships.