Ameriprise Financial

Ameriprise Financial is a financial services company that provides a wide range of financial planning and investment management services to individuals, businesses, and institutions. The company was founded in 1894 and is headquartered in Minneapolis, Minnesota.

Ameriprise Financial's services include financial planning, investment management, retirement planning, estate planning, insurance, and banking. The company has a network of financial advisors who work with clients to develop personalized financial plans that help them achieve their financial goals.

In addition to its financial planning and investment management services, Ameriprise Financial also offers a range of investment products, including mutual funds, exchange-traded funds (ETFs), and annuities. The company also operates its own online broker-dealer, Ameriprise Financial Services, LLC, which provides clients with access to a range of investment products and trading services.

Ameriprise Financial is publicly traded on the New York Stock Exchange under the ticker symbol "AMP" and is a member of the S&P 500 index. The company has a strong financial position, with a market capitalization of over $30 billion as of early 2023.

Overall, Ameriprise Financial is known for its strong focus on client needs and its personalized approach to financial planning and investment management. The company's financial advisors work closely with clients to understand their goals and develop customized plans that help them achieve financial success.

Since its inception in 1894, Ameriprise has always prioritized the needs of its clients. John Tappan founded Investors Syndicate in Minneapolis in the same year, with the goal of providing investors with sound financial advice and investment opportunities.

However, in 1907, the Panic of 1907 struck, causing widespread bankruptcies among brokerage firms and prompting investors to withdraw their funds from banks. Despite the challenging economic climate, Investors Syndicate persevered.

In 1925, West Coast businessman J. R. Ridgway merged his investment firm with Investors Syndicate and became the president of the company. Under Ridgway's leadership, the company continued to grow and expand.

In 1940, the Investors Syndicate introduced one of the first mutual funds, the Investors Mutual Fund, which offered clients diversification and professional management. This was followed by the creation of the Investors Stock Fund and Investors Selective fund in 1945.

The company also broke new ground in the area of gender equality, with Ruth Abrahamson joining the company in 1946 and later becoming the number one female sales representative in the country.

Investors Syndicate changed its name to Investors Diversified Services, Inc. (IDS) and founded the Investors Syndicate Life Insurance and Annuity Company, which is now known as RiverSource Life Insurance Company. IDS also acquired Wisconsin Employers Casualty Company of Green Bay, Wisconsin and renamed it IDS Property Casualty Insurance Company in 1986.

In 1974, the IDS Centre (now IDS Center) was opened in downtown Minneapolis as the company's headquarters. The Ridgway family sold the last of its ownership interest in 1979.

In 1983, the company was renamed Ameriprise and headquartered in Minneapolis, MN, United States. A year later, American Express acquired IDS Financial Services from Alleghany Corporation. Securities America, which traced its roots to Financial Dynamics, an insurance marketing organization founded in 1984 by Steve Wild, was created in 1993 to use its insurance sales force to offer investment management, financial advice and financial planning through a national network of independent financial advisors.

In 1986, Investors Diversified Services (IDS) acquired Wisconsin Employers Casualty Company and renamed it IDS Property Casualty Insurance Company. The acquisition strengthened the company's portfolio and added another line of insurance to their offerings.

Seven years later, in 1993, Financial Dynamics established Securities America as an independent securities broker/dealer. The move allowed the company to use its insurance sales force to offer investment management, financial advice, and financial planning through a national network of independent financial advisors.

The following year, IDS achieved a significant milestone, reaching $100 billion in assets. As a result, effective January 1, 1995, the company changed its name to American Express Financial Corporation and began doing business as American Express Financial Advisors (AEFA).

In October 2003, AEFA expanded its reach by acquiring London-based Threadneedle Asset Management Holdings. Two years later, in September 2005, American Express completed the corporate spin-off of AEFA as Ameriprise Financial, Inc., a public company.

In September 2006, Ameriprise launched Ameriprise Bank, FSB, expanding its offerings to include banking services. The following year, the company made two significant acquisitions, purchasing H&R Block Financial Advisors for $315 million and J. & W. Seligman & Co. for $400 million.

In 2009, Ameriprise acquired Standard Chartered Bank's World Express Funds investment funds business, which provided Threadneedle with an established Luxembourg-based SICAV platform with over US$2.38 billion worth assets under management.

A year later, in May 2010, Ameriprise Financial acquired Columbia Management, the long-term asset management business of Bank of America, for $1 billion.

In August 2011, Threadneedle announced the acquisition of £8 billion in investment assets from LV=. In the same year, Ameriprise completed the sale of Securities America to Ladenburg Thalmann Financial Services for $150 million in cash and potential future payments.

In 2012, Ameriprise opened its services to individuals in India with a minimum income equivalent to US$40,000. Three years later, in 2015, Threadneedle rebranded as Columbia Threadneedle.

In 2017, Ameriprise acquired Investment Professionals, Inc., expanding its reach and expertise in the financial industry. Two years later, in 2019, the company sold Ameriprise Auto & Home Insurance to American Family Insurance for $1.05 billion. Despite the changes and acquisitions, Ameriprise continued to put clients first, a legacy that began with John Tappan's founding of the Investors Syndicate in Minneapolis in 1894.

The mission statement of Ameriprise Financial is "to help clients achieve their financial goals and feel confident, connected, and in control of their financial lives." 

This statement emphasizes the company's commitment to providing personalized financial advice and planning services to help clients achieve their financial objectives. Ameriprise Financial is focused on building long-term relationships with its clients and helping them navigate complex financial situations.

The vision statement of Ameriprise Financial is "to be the most trusted and admired financial services company, providing innovative and personalized financial solutions that help clients achieve their goals." 

This statement emphasizes the company's commitment to innovation and personalized solutions. Ameriprise Financial seeks to differentiate itself from its competitors by providing superior customer service and customized financial planning services.

• Retirement Planning: Ameriprise offers a variety of tools and resources to help people plan for retirement, including investment advice, retirement income planning, and Social Security optimization.
• Investment Management: Ameriprise offers investment management services to help individuals and businesses build wealth and achieve their financial goals. These services include portfolio management, asset allocation, and investment research.
• Insurance: Ameriprise offers a range of insurance products to help individuals and businesses protect their assets and manage risk. These products include life insurance, long-term care insurance, disability insurance, and property and casualty insurance.
• Banking and Cash Management: Ameriprise offers a range of banking and cash management services to help individuals and businesses manage their money more effectively. These services include checking and savings accounts, credit cards, and online banking.
• Estate Planning: Ameriprise offers estate planning services to help individuals and businesses plan for the transfer of their assets and minimize their tax liabilities. These services include wills, trusts, and other estate-planning strategies.
• Small Business Services: Ameriprise offers a variety of services to help small business owners manage their finances and grow their businesses. These services include retirement plan administration, employee benefits, and succession planning.