Ameriprise Financial Inc

Ameriprise Financial Inc

Ameriprise Financial Inc
Last update 2020-02-17 3428 Stocks (127 new)
Value $236.46 Bil Turnover 6 %
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Ameriprise Financial Inc Profile

Ameriprise Financial began as Investors Syndicate in 1894. It would see modest growth through its early years, introducing the Face Amount Certificate and surviving through the Panic of 1907. In 1925, John Ridgway would purchase Investors Syndicate and take over as president. In 1940, Investors Syndicate would introduce one of the first mutual funds, the Investors Mutual Fund, that allowed diversification and professional management, becoming the largest balanced mutual fund by the 1960s. The company would be renamed to Investors Diversified Services, founding its Insurance and Annuity Company in 1957. In 1970, IDS would institute the Four Cornerstone philosophy, composed of cash reserves, insurance protection, fixed-income investments and equity investments to provide greater stability and security for its clients. In 1984, American Express would acquire IDS, and, under American Express, it would reach $100 billion in assets by 1994. In 2000, James Cracchiolo would become the CEO. The company, now called AEFA, would acquire Dynamic Ideas and Threadneedle, becoming independent in 2005 and adopting the name it is now known as today. At the time of its independence, it would have over 12,000 advisors and over 2.7 million clients. Just two years later, it would be rank 297 on the Fortune 500 list. Ameriprise was not very affected by the financial crisis of 2008, acquiring H&R Block Financial Advisors and J & W Seligman & Co. for over $700 Million. With its acquisition of Columbia Asset Management Group’s long-term asset management business, Ameriprise Financial would become the eighth largest manager of long-term mutual fund assets. Some of the primary subsidiaries of Ameriprise include Ameriprise Financial Services, Columbia Management Investment Advisors, and RiverSource Life Insurance. Its notable mutual funds include Fidelity Advisor Biotechnology and Prudential Jennison Health Science and some of its notable ETFs include SPDR S&P 500 and Select Sector Financial SPDR

Ameriprise Financial Inc Investing Philosophy

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