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At a Glance


"Opportunity is endless"

"We are unparalled in the industry"



"Pay system is confusing"

"Lack of communication between franchise owners"

"Too much overhead"

The Buzz

"Too big, will hire anyone"


"Main Street wealth managers"

About Ameriprise Financial


The big spin off

Minneapolis-based brokerage firm Ameriprise Financial, Inc. boasts one of the largest advisory networks in the country, with more than 12,400 financial advisors.  Formerly known as American Express Financial Corporation, Ameriprise offers asset accumulation and income solutions, insurance, personal trust services and retail brokerage services throughout the U.S.   The firm operates through three main units: advice and wealth management, asset management, annuities and protection (insurance).  Its main broker-dealer subsidiaries include Ameriprise Financial Services, Ameriprise Advisor Services, Securities America and RiverSource Distributors.  Asset management is mostly provided by RiverSource Investments and Threadneedle Investments, while insurance and annuities are provided through RiverSource Life Insurance Company and RiverSource Life Insurance Co. of NY.  Banking and deposits are handled by two subsidiaries: Ameriprise Bank and Ameriprise Certificate Company.

In addition to its headquarters in Minnesota, the firm has a New York City location (on the 39th floor at 7 World Trade Center), as well as other offices throughout the country.  In 2008, the firm was ranked No. 296 on the Fortune 500 and booked net revenue of $7 billion.  As of 2009, it had approximately $372 billion in assets under management and 2.8 million clients.

Although the firm was only spun off by American Express in September 2005, Ameriprise Financial was built on a rich history that goes back 110 years.  Founded in 1894 by John Tappan, the firm was originally called Investors' Syndicate.  In 1940, Investors' Syndicate got into the mutual fund market; nine years later, the firm changed its name to Investors Diversified Services (IDS).  In 1984, American Express bought IDS Financial Services.  Ten years into conducting business under the American Express brand, IDS reached $100 billion in assets.  In 2003, the firm (which was then called American Express Financial Corporation) expanded its reach across the pond, when it acquired London-based Threadneedle Asset Management Holdings Ltd.  In February 2005, American Express announced that it would spin off Ameriprise—in the sixth-largest spin-off in corporate history—"to create two distinct businesses and allow them to capitalize on their respective growth opportunities," said American Express CEO Ken Chenault at the time.  And by about a year into flying solo, Ameriprise was on the right track, accomplishing "in a matter of months what can take years of planning," Barron's reported in August 2006.  "Ameriprise Financial looks well on the way to securing a perch among the largest financial service providers serving baby boomers headed for retirement."  In September 2006, a year after being spun off, Ameriprise Financial took on a new challenge, launching Ameriprise Bank, FSB.  Headquartered in New York, the bank offers services to help clients with borrowing, cash management, personal trust needs and a home lending program, including mortgages, home equity loans and lines of credit.


Ameriprise Financial

707 2nd Avenue South
Minneapolis, MN 55402
Phone: (612) 671-3131

Firm Stats

Employer Type: Public
Stock Symbol: AMP
Stock Exchange: NYSE
James M. (Jim) Cracchiolo
2006 Employees (All Locations): 11,900