Ameriprise Financial Inc

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Ameriprise-Financial-2011.svg

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:[2018]

  • 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.

Principal Brands

  • Ameriprise-Financial-2011.svg
    Ameriprise Financial: enterprise brand, as well as the name of Ameriprise's advisor network and certain retail products and services, including those provided through affiliated advisors (eg, financial planning, investment advisory accounts, retail brokerage services and banking products) and products and services that are marketed directly to consumers or through affinity groups (eg, personal auto and home).
  • Ameriprise-Columbia-Threadneedle.svg
    Columbia Threadneedle Investments is a global brand that represents the combined capabilities, resources and reach of Columbia Management and Threadneedle. The brand reinforces the strength of both firms in their established markets of the UK, Europe and the USA and helps grow Ameriprise's presence in key markets including Asia Pacific, Latin America, Africa and the Middle East. Website, Website.us
  • Ameriprise-RiverSource.svg
    RiverSource: used for annuities products, and for the protection products issued by the RiverSource Life companies, including life and disability income insurance products. Website

Company

Shareholders

Total float: 37.3%
Source: MarketScreener.svg, Mar.2020

Structure

ToDo: See AR-2018, p.24

Timelines

Ameriprise Financial

  • 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:
    Ameriprise-IPI-Investment-Professionals.svgDeals-Arrow-Left.svg
    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.[1] WebsiteArchive-org-sm.svg
  • Mar.2015:
    Ameriprise-Columbia-Threadneedle.svg
    Columbia Threadneedle Investments: Columbia Management and Threadneedle Asset Management were brought together as a new brand for the business.[2][3]
  • 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-horiz.svgDeals-Arrow-Right.svg
    Securities America Financial Corporation, including its subsidiary Brecek & Young, was sold to Ladenburg Thalmann Financial Services IncWikipedia-W.svg.[4][5] (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.[6] SecuritiesAmerican.comArchive-org-sm.svg
  • 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.[7][8]
  • May.2010:
    Ameriprise-Columbia-Management-2000.svgDeals-Arrow-Left.svg
    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.[9]
  • 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:
    Ameriprise-JW-Seligman-Investments.svgDeals-Arrow-Left.svg
    J & W Seligman & Co. Incorporated, an asset manager, was acquired by RiverSource Investments LLC.[10] Seligman was merged into RiverSource Investments, but continued operating as "Seligman Investments".[11] Seligman.comArchive-org-sm.svg JW Seligman.comArchive-org-sm.svg
  • 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. HistoryArchive-org-sm.svg
  • 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.[12][13]
  • Dec.2006:
    Ameriprise-RiverSource.svg
    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".[14]
  • 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-2005.svgDeals-All-Change.svg
    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.OpenCorporates-sm.svg Ameriprise Financial Inc then became an independently quoted company on the New York Stock Exchange.[15]
  • Oct.2003:
    Threadneedle-Investments-2002.svgDeals-Arrow-Left.svg
    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.[16][17]
  • 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.[18]
  • 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.OpenCorporates-sm.svg

Beginnings

  • 1979:
    Alleghany-Corporation.svgDeals-All-Change.svg
    Alleghany Corporation: IDS became a wholly owned subsidiary, pursuant to a merger. Alleghany renamed IDS as "IDS Financial Services".
  • 1973:
    Ameriprise-IDS-Life-Insurance-Company-1973.svg
    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.
Sources: AR-2011.arch, AR-2015, AR-2005, AR-2018

References

  1. ^ Ameriprise Financial Announces Agreement to Acquire Investment Professionals, Inc. Business Wire, Apr.24.2017.
  2. ^ New Columbia Threadneedle Investments brand unveiled. Press Release, Columbia Threadneedle, Mar.30.2015.
  3. ^ Ameriprise relaunches Columbia Management as Columbia Threadneedle Investments. Srividya Kalyanaraman, Investment News, Sept.28.2015.
  4. ^ Ladenburg Thalmann Completes Securities America Acquisition. Business Wire, Nov.07.2011.
  5. ^ Securities America Financial Corporation. Securities America Inc. Original archived on Aug.10.2019.
  6. ^ About us: Corporate History. Securities America. Original archived on Mar.25.2019.
  7. ^ Integration News for Columbia Investors Columbia Management. Original archived on Dec.19.2010.
  8. ^ About Us. Seligman Investments, Aug.30.2010. Original archived
  9. ^ Ameriprise buys Columbia. Jim Cracchiolo, Wealth Management, Sept.30.2009.
  10. ^ Seligman LaSalle, International Real Estate Fund, Inc: Annual Report. Seligman Investments, Dec.31.2008. Original archived
  11. ^ Annual Report 2008. Ameriprise Financial Inc, Dec.31.2008.
  12. ^ H&R Block Sells Brokerage Business to Ameriprise. DealB%k, New York Times, Aug.08.2008.
  13. ^ Ameriprise Buys H&R Block Reps. Wealth Management, Aug.13.2008.
  14. ^ Ameriprise Financial Renames Insurance Companies Under the RiverSource Brand. Business Wire, Jan.08.2007.
  15. ^ How American Express Financial Advisers Help Your Bottom Line. Business First Family, Sept.15.2017.
  16. ^ American Express pays £340m for Threadneedle Asset Management. Katherine Griffiths, the Independent, Jun.17.2003.
  17. ^ Zurich continues asset overhaul. SwissInfo.ch, Swiss Broadcasting Corporation, Jun.16.2003.
  18. ^ Our History. Alleghany Corporation. Accessed Dec.10.2019.