History and structure of Ameriprise Financial
Ameriprise Financial is a major financial corporation from the U.S., which provides services in the field of insurance, asset management of companies and individuals. Its activities cover various countries, including the UK, Germany, Japan, France and others.
Ameriprise Financial shares are listed on the New York Stock Exchange with the ticker AMP. Quotations are fixed in American dollars. The main office of the holding is located in the state of Minnesota. Experienced specialists provide a wide range of services at stock and currency markets of Europe, Oceania, Asia and North America. The corporation is a respected player in the investment and brokerage business segment, it performs management and helps companies from various fields to conduct financial activities. Another area of Ameriprise Financial is operations with cash receipts into accounts of the fund and insurance of assets against possible risks.
Representative offices of the corporation are opened in many countries of the world, on different continents. Large offices are located in India, Australia and Great Britain. The total number of employees is 12 thousand people. The volume of assets managed by Ameriprise Financial is about 150 billion dollars. Interestingly, the company name is an abridged version of the word combination American prise, which means “American prize” in translation.
The holding company appeared in 1894. Its history began with the Investors Syndicate. This financial institution was located in Minneapolis, a large city in Minnesota. The company owes its emergence to a group of American entrepreneurs and financiers, whose head was John Tappan. In 1925, the firm merged with the Ridgway investment company. In 1937, the corporation expanded its range of services and began working in the field of mortgage lending. After 3 years, the first mutual fund was organized. In 1979 the company merged with Alleghany Corporation. In its modern form Ameriprise Financial appeared in 2005 after large-scale modernization. As a result, investment and brokerage divisions joined the holding, which had previously been part of American Express Financial Advisors.
The holding company has several directions:
- Advice & Wealth Management provides financial planning services, advises retail clients and works in the brokerage segment.
- The function of Asset Management is asset management, investment operations. The specialists of the division also sell various products: bonds, mutual funds and others.
- Annuities offers customers annuity products with different types of yield rates.
- Protection is responsible for risk management and retail client insurance services.
Trust management is carried out through a $350 billion subsidiary.
The holding shows excellent results. According to the annual income statement, Ameriprise Financial’s performance has been steadily increasing.