Ameriprise Financial Inc
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Ameriprise Financial is a diversified financial services company holding company, incorporated in Delaware, that primarily engages in business through its subsidiaries. The group operates through the following segments:
- 40.8%: Wealth Management: via a network of ~10,000 advisors.
- 23.1%: Asset Management: represented by the Columbia Threadneedle Investments brand. Offers a broad spectrum of investment advice and products to individual, institutional and high-net worth investors. Investment products are primarily provided through 3rd parties, with some asset management products also being provided through AFI's advisor channel.
- 33.2%: Insurance and Annuities;
- 2.9%: Corporate & Other.
Total float: 37.3%
- 10.5% Vanguard Group Inc
- 4.79% SSgA Funds Management Inc
- 4.46% Bain Capital Public Equity LP
- 3.64% Aristotle Capital Management LLC
- 3.07% JP Morgan Investment Management Inc
- 2.60% BlackRock Fund Advisors
- 2.42% Davis Selected Advisors LP
- 2.38% LSV Asset Management
- 2.22% UBS Asset Management (UK) Ltd
- 1.94% Geode Capital Management LLC
ToDo: See AR-2018, p.24
- 2018: Ameriprise National Trust Bank: Ameriprise decided to expand its banking products and services provided directly to its clients, and commenced the process of converting Ameriprise National Trust Bank into a federal savings bank with the capabilities to offer FDIC insured deposits and a range of lending products.
- Apr.2017: Investment Professionals Inc was acquired. IPI was an independent broker-dealer specialising in the on-site delivery of investment programs for financial institutions, including banks and credit unions. The deal gave Ameriprise scale entry into the bank channel.
- Mar.2015: Columbia Threadneedle Investments: Columbia Management and Threadneedle Asset Management were brought together as a new brand for the business.
- Jan.2013: Ameriprise National Trust Bank: Ameriprise Bank FSB was converted from a federal savings bank to a limited powers national trust bank.
- Nov.2011: Securities America Financial Corporation, including its subsidiary Brecek & Young, was sold to Ladenburg Thalmann Financial Services Inc. (Securities America was acquired by American Express in 1998; after Ameriprise Financial's spin-off, Securities America became a wholly-owned subsidiary of Ameriprise Financial.
- Sept.2010: Columbia Management Investment Advisers LLC: Ameriprise combined RiverSource Investments with Columbia Management, under the Columbia Management brand. It became the primary brand for the company's US asset management products and services, including retail and institutional asset management products.
- May.2010: Columbia Management Group LLC, the long-term asset management business of Bank of America, was acquired, enhancing the scale and performance of Ameriprise's retail mutual fund and institutional asset management businesses. The deal also brought Columbia Wanger Asset Management LLC, which continued as the investment adviser for the Columbia Acorn and Wanger Funds.
- Dec.2008: Custody business disposal: Ameriprise Trust Company's subsidiary’s institutional trust and asset custody business was disposed of to JP Morgan Chase Bank NA; the sale was completed in early 2009.
- Nov.2008: J & W Seligman & Co. Incorporated, an asset manager, was acquired by RiverSource Investments LLC. Seligman was merged into RiverSource Investments, but continued operating as "Seligman Investments".
- Oct.2008: Brecek & Young Advisors Inc: Securities America Financial Corporation purchased Brecek & Young, a California-based broker/dealer, and its subsidiary, Iron Point Capital Management, from Security Benefit Corporation of Topeka, Kansas.
- Aug.2008: Ameriprise Advisor Services Inc: H&R Block sold their full-service securities broker-dealer division "H&R Block Financial Advisors Inc", to Ameriprise Financial Inc.
- Dec.2006: RiverSource Life Insurance Company: Ameriprise's 5 life insurance subsidiaries were merged into two RiverSource-branded entities. (a) American Partners Life Insurance Company and American Enterprise Life Insurance Company merged into "IDS Life Insurance Company". (b) American Centurion Life Assurance Company merged with IDS Life Insurance Company of New York, which was then renamed "RiverSource Life Insurance Co. of New York".
- Sept.2006: Ameriprise Bank FSB commenced operations by purchasing customer loans and deposits of American Express Bank FSB, a subsidiary of American Express. Separately, secured loans from American Express Credit Corporation were purchased.
- 2006: Ameriprise sold its large-scale retirement plan record-keeping business to Wachovia Bank NA (now Wells Fargo Bank NA).
- Sept.2005: Ameriprise Financial Inc: American Express Company spun off its financial advisory business unit (American Express Financial Advisors), the holding company of which was Ameriprise Financial Inc. Ameriprise Financial Inc then became an independently quoted company on the New York Stock Exchange.
- Oct.2003: Threadneedle Asset Management Holdings Sarl, the Luxembourg-based holding company for the Threadneedle group of companies, was acquired by American Express from Zurich Financial Services Ltd for the firm's expanding international presence. Threadneedle provided investment management products and services in the UK, Europe, the Middle East and the Asia-Pacific regions.
- 1995: American Express Financial Advisors: the company changed its name.
- 1986: IDS Property Casualty Insurance Company: Wisconsin Employers Casualty Company was acquired and renamed.
- 1984: American Express completed the acquisition of IDS Financial Services from Alleghany Corporation.
- Oct.1983: American Express Financial Corporation was formed as a Delaware corporation in anticipation of American Express’ 1984 acquisition of IDS Financial Services from Alleghany Corporation.
- 1979: Alleghany Corporation: IDS became a wholly owned subsidiary, pursuant to a merger. Alleghany renamed IDS as "IDS Financial Services".
- 1973: IDS Life Insurance Company: Investors Syndicate Life Insurance and Annuity Company was renamed.
- 1972: Investment products: IDS expanded its network by delivering investment products directly to clients of unaffiliated financial institutions.
- 1957: Investors Syndicate Life Insurance and Annuity Company was established to offer life insurance products and, later, annuity products.
- 1949: Investors Diversified Services Inc: Investors Syndicate renamed itself.
- 1937: Investors Mutual was established to expand product offerings.
- 1894: Investors Syndicate was founded in Minneapolis, Minnesota, to provide Face Amount Certificates to consumers with a need for conservative investments.